THE pharmaceutical industry said further initiatives to streamline permit and approval processes and make regulation predictable will be key to inducing the industry to expand or attract investment.
PHILIPPINE STAR/ MICHAEL VARCAS
“When you talk about ease of doing business, it has to be expansive, going beyond the taxes. We need to prepare what the capabilities are needed so that when they invest in us, it is actually something that we can sustain,” Ms. Edralin said. “The average used to be two to three years; that’s long. But now, the FDA has made very significant progress. The FDA learned a lot during the pandemic with the approval of the vaccines. We managed to get a drug approval in 48 days with the reliance pathway,” Ms. Edralin said.
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