AYALA Healthcare Holdings, Inc. emphasized the significant role of local manufacturing at scale in reducing the overall cost of medicine, while also stressing the need to digitalize the drug regulatory process. Paolo Maximo F. Borromeo, President and CEO of Ayala Healthcare, referred to recommendations put forth by the Private Sector Advisory Council (PSAC) to support these assertions.
According to the PSAC, one of the key proposals is the digitalization of the Food and Drug Administration (FDA) to streamline and modernize its operations. This move would leverage technology to enhance efficiency and expedite the approval process for pharmaceutical products. By embracing digital solutions, the drug regulator could potentially shorten the time it takes to evaluate and authorize drugs, ultimately benefiting patients and healthcare providers alike.
Furthermore, Ayala Healthcare stressed the importance of fostering local manufacturing capabilities on a large scale. By ramping up production within the country, the company believes that the cost of medicine can be significantly reduced. Local manufacturing eliminates the need for costly imports and transportation, resulting in more affordable medications for consumers. This strategy aligns with broader efforts to promote self-sufficiency and resilience within the local pharmaceutical industry.
The COVID-19 pandemic has underscored the vulnerabilities associated with relying heavily on global supply chains. Ayala Healthcare recognizes the value of building robust domestic manufacturing capacity to ensure uninterrupted access to essential medicines, even during times of crisis. By strengthening the local pharmaceutical ecosystem, the company aims to enhance the nation’s ability to respond effectively to future healthcare challenges.
Moreover, Ayala Healthcare’s emphasis on digitalizing the drug regulator aligns with broader trends towards digitization and automation in various industries. The integration of advanced technology systems can optimize regulatory processes, minimize paperwork, and improve data management. By leveraging digital platforms, the FDA can streamline its operations, promote transparency, and enable more efficient communication and collaboration with stakeholders.
Ayala Healthcare’s endorsement of the PSAC’s recommendations highlights its commitment to driving innovation and catalyzing positive change in the healthcare sector. The company recognizes that by embracing technology and local manufacturing, significant strides can be made in making medicines more accessible and affordable for all Filipinos. Furthermore, these initiatives have the potential to stimulate economic growth, generate employment opportunities, and contribute to the overall development of the local pharmaceutical industry.
In conclusion, Ayala Healthcare Holdings, Inc. supports the digitalization of the drug regulatory process and emphasizes the importance of local manufacturing at scale. These strategies, as recommended by the PSAC, aim to lower the cost of medicine, enhance regulatory efficiency, and strengthen the resilience of the local pharmaceutical ecosystem. By embracing technology and fostering domestic production capabilities, Ayala Healthcare seeks to create a more sustainable and inclusive healthcare system for the benefit of the Filipino population.
