FILIPINO pharmaceutical manufacturing firm United Laboratories Inc. (UniLab) expects sales to grow at a steady pace of 25 percent this year, a company official said.
“We’re projecting steady growth sales this year at 25 percent to P43 billion, that’s the same last year,” Jose Maria Ochave, senior vice president for Business Development Group of UniLab said on Tuesday.
Ochave noted that compared with other countries, the Philippine pharmaceutical industry is small and growing by about 5 percent, unlike the 10 percent in other countries.
“For some, they have reimbursable markets, they cover many products. Unlike here, basically we’re covering oncology, some of the in-patient products. We’re not covering the outpatient yet,” he said
“Because once we’re covering the outpatient medicines, PhilHealth will be very critical, that’s very big. Like Thailand they covered . . . Also prices would be lowered,” he added.
UniLab is eyeing a seventh manufacturing facility. “The company is planning to expand, another facility somewhere in the North of Manila, our seventh plant,” Ochave said.
For now the plan is going through a feasibility study, but it would a state-of-the-art facility.