October 4, 2023

Philippines' first vaccine facility to include animal vaccines production

The National Development Co (NDC), the investment arm of the Philippines government, has disclosed plans for the country's inaugural vaccine manufacturing facility, which will also produce vaccines aimed at combatting animal diseases, including African swine fever (ASF), Malaya Business Insight reported.

This state-of-the-art facility, valued at PHP 7.5 billion (US$132 million), will be operated by Glovax Lifescience Corp.

Glovax Lifescience Corp is actively engaged in negotiations to secure funding for this ambitious project. Funding discussions are underway with prominent entities such as the International Finance Corp, the Asian Development Bank, and the Impact Investment Exchange of Singapore.

Notably, the project has garnered interest from the renowned San Miguel Corp, which views it as a valuable complement to its existing hog and poultry business operations. Glovax Lifescience Corp operates as a collaborative effort between local firm Glovax Biotech and a leading Korean pharmaceutical company. NDC maintains a 2.5% to 3% ownership stake in this dynamic enterprise.

According to Saturnino Mejia, assistant general manager at NDC, the implications of this project extend beyond vaccine production. By reducing the Philippines' reliance on imported vaccines, this initiative is expected to generate significant cost savings for the nation.

-      Malaya Business Insight