Philippines Pharma Industry Forecasts Slower Growth This Year
This article was originally published in PharmAsia News
Executive SummaryThe Philippines' pharmaceutical industry expects the economic situation in the country to lead to slower sales growth this year at a time when the patents of some local companies also expire. The Pharmaceutical and Healthcare Association of the Philippines projects sales growth at no more than 6 percent, down from 10.2 percent last year. The expected 5-6 percent growth rate is expected to be supported in part by increased research and development by the industry. PHAP Executive Director Reiner Gloor said R&D is of greater importance as the local industry meets global competition. (Click here for more
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