United Laboratories Inc., the largest pharmaceutical company in Southeast Asia, is establishing another plant north of Manila for the production of oral medicines.
Unilab senior vice president for business development Jose Maria Ochave said an ongoing feasibility study would determine the needed capital for the expansion plan.
“This will be our seventh plant in the Philippines. We will be producing oral medicines from this plant, most likely in capsule preparation,” he said Tuesday at the sidelines of the Philippines-India Investment Forum in Makati City.
Ochave said investments in the seventh facility, which would serve the local market, were not likely to reach P1 billion.
Unilab generated sales of P43.7 billion in 2016, up 6 percent from 2015 sales. Ochave said the Philippine pharmaceutical industry “can grow more.”
“The prospects are good and it will address the problem of access to cheaper yet quality medicines by the poorest of the poor, which is what the government is doing now,” he said.