March 3, 2024
PiVOT, the leading contract research organization (CRO) in the Philippines, welcomes the recent approval of House Bill (HB) 9867, also known as the Pharmaceutical Innovation Act. This act seeks to accelerate the discovery and development of innovative medicines in the Philippines.
PiVOT believes that the act has the potential to significantly benefit the Philippine healthcare sector and the economy as a whole. By aiming to revitalize the Philippines as a center for clinical trials, the act could lead to:
Increased access to innovative medicines for Filipinos
This aligns with PiVOT’s core mission of bringing essential clinical research to the Philippines to improve patient access to new treatments.
A more robust clinical trial ecosystem: The act’s focus on addressing challenges in the current system, such as review timelines and infrastructure, could create a more efficient and attractive environment for conducting clinical trials.
Enhanced reputation and competitiveness of the Philippines in the global clinical trial landscape: This could position PiVOT to capture a larger share of the growing clinical trial market, both domestically and internationally.
(Read: Why The Philippines is an Attractive Clinical Research Destination)
PiVOT is optimistic about the potential of the Pharmaceutical Innovation Act to create a positive impact on the Philippine healthcare sector. As the leading CRO in the Philippines, PiVOT is well-positioned to play a key role in the growth and development of the clinical trial industry under this new legislation.
PiVOT remains committed to supporting clinical research efforts in the Philippines and looks forward to contributing to the success of the Pharmaceutical Innovation Act.
Source:
Panel approves Pharmaceutical Innovation Bill
House panel OKs bill boosting Philippine clinical trials
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