PH, US firms ink deals to build first cancer hospital, boost medicine production

Metro Manila (CNN Philippines, November 16) — Filipino companies have secured groundbreaking agreements with American firms that are seen to improve health services in the Philippines, and position the country as a key player in the global pharmaceutical industry.

Malacañang on Thursday said President Bongbong Marcos, during the sidelines of the Asia Pacific Economic Cooperation Summit in California, witnessed the signing of the partnership between AC Health and Varian Medical Systems to build the first dedicated oncology hospital in the Philippines.

According to the Palace, AC Health will establish the Healthway Cancer Care Hospital in the country, which will serve as a network of oncology clinics throughout Metro Manila, and utilize Varian's state-of-the-art and multi-modality cancer care technology.

"The initiative is a vital stride in the fight against cancer, and it reflects the Philippines' growing potential as a leading healthcare destination in Asia," Marcos said during the signing.

Malacañang also said Filipino firm Lloyd Laboratories and US-based DifGen Pharmaceutic have entered into a joint venture to magnify the local production of medicines in the Philippines.

An investment of up to $20 million will be undertaken by Lloyd Laboratories for the establishment and operation of the first US Food and Drug Administration-approved manufacturing facility in the country.

The Palace added that the joint venture will also cover mutual interest in collaborating on the filing of Abbreviated New Drug Application (ANDA) and the marketing of jointly developed pharmaceutical products within the United States.

Marcos hailed it as a significant step toward expanding the country's local production and promoting a robust local pharmaceutical industry.