AstraZeneca, PEZA eye P7B healthcare ecosystem investments

AstraZeneca Philippines is set to play a leading role in driving more than P7 billion in projected investments into the country’s healthcare ecosystem from 2026 to 2028 through the establishment of the first multi-stakeholder Health Innovation Hub in partnership with the Philippine Economic Zone Authority (PEZA).

The global biopharmaceutical company formalized the initiative through a memorandum of understanding (MOU) signed on 19 August at PEZA’s main office in Pasay City.

The project is positioned as a major driver of both healthcare modernization and economic growth, with the investment pipeline covering advanced medical research, AI-powered diagnostics, early screening for non-communicable diseases (NCDs), and digital health solutions.

Lotis Ramin, country president of AstraZeneca Philippines, said the partnership will place the Philippines at the center of regional innovation.

“With this signing, we officially launch the Philippines’ first multi-stakeholder Healthcare Innovation Hub, in partnership with PEZA,” Ramin said.

“This bold step positions the Philippines as a future leader and emerging center of healthcare innovation in the region.”

PEZA Director General Tereso Panga welcomed the entry of high-value investments, noting that AstraZeneca’s global model will not only bring capital inflows but also promote knowledge transfer.

“These initiatives will not only attract millions of pesos in investments, but will also generate knowledge-sharing opportunities and, most importantly, save countless Filipino lives,” Panga said.

The Department of Trade and Industry (DTI) added that the partnership reflects its push to attract investments in strategic industries.

“This partnership embodies our core belief: the government creates the enabling environment and the private sector provides the innovation and resources,” DTI Secretary Cristina Aldeguer-Roque said.

AstraZeneca Philippines has already screened nearly 4 million patients since 2021 and aims to expand its health programs under the hub, which will also connect the country to AstraZeneca’s global A. Catalyst Network spanning over 25 innovation centers worldwide.

Area vice president of AstraZeneca Asia Sylvia Varela said the hub will serve as an incubator for local healthcare innovation while leveraging global expertise.

“With the launch of the Health Innovation Hub, we can focus on co-creating solutions for urgent health issues, and serve as an incubator for local healthcare innovation by connecting the Philippines through AstraZeneca’s global A. Catalyst Network,” Varela said.