A partnership between Philippine firm Glovax Biotech Corporation and Korean pharmaceutical company, Eubiologics, will involve the building the Philippines’ first vaccine manufacturing facility. The investment is reportedly worth PHP 7.5 billion (USD 132 million) and will be operating under the name Glovax Lifescience Corporation.
The Department of Trade and Industry’s Undersecretary and Board Investments (BOI) Managing Head, Ceferino Rodolfo said that Glovax already had its groundbreaking ceremony in a 4 hectare facility in Taysan, Batangas for its vaccine manufacturing plant and is expected to be completed after 18 months. This project is being developed as part of the Philippines-Korea Free Trade Agreement. The Philippines’ state-owned investment firm, National Development Co. (NDC), is one of the investors responsible for the engineering design of the vaccine plant, land development, construction improvements, and office at the plant site.
The project will have three phases. Facilities will include a bulk filling plant for immediate vaccine production with local components of vaccine supplied to the government. The plant will have research and development capabilities as well as animal testing for clinical trials.
The vaccine plant will have an annual production capacity of 50 million doses and will be creating inoculations for diseases such as polio, cholera and even for Covid-19. Production will target the local market with a goal to export in the next 7 years.
(Source: Philippine News Agency)