Herb-based meds makers seek government support

CEBU, Philippines - With the country’s rich resources of herbs, the Philippine government is urged to fully support companies that are developing herbal-based medicines for small players to survive.

International Pharmaceutical Inc. (IPI) chief operating officer (COO) Dennis B. Wong said that at present, despite the existence of the Philippine Institute for Traditional and Alternative Center (PITAC), only very few Filipino-owned companies have the approval of the Bureau of Food and Drugs (BFAD), as an official therapeutic medicinal product.

IPI for instance, only few of their products have been able to get BFAD approval as therapeutic medicine, although the company had developed several herbal-based and alternative products.

According to Wong, only very few if not one of two pharmaceutical companies in the Philippines that have been able to take advantage of PITAC, the others remained small because most of their products are not recognized and if not, even if it has good quality, it lack support from concerned authorities.

“I think the government should support herbal products so smaller entrepreneurs should survive,” Wong said.

IPI is one of the country’s largest health care and fast moving consumer goods (FMCG) makers.

Wong said the government should seriously put their attention to encouraging small players to provide BFAD approved herbal-based medicinal products, so that Filipinos will be able to compete with the international brands, which prices are not affordable for the mainstream market.

Despite the entry of herbal-base pharmaceutical products developed locally and abroad, Wong said IPI continues to dominate the Southern Philippine market, led by its four banner products—Casino Rubbing Alcohol, Omega Pain Killer, Efficascent Oil, and Bioderm soap.

These products registered a 70 percent growth this year, although other over 100 products developed by IPI are also getting good share in the highly competitive market.

IPI’s export trade has grown about 100 percent this year, this is a good indication that the company’s product has big potential abroad, specifically in Japan, Middle East, India, Australia, US and Europe.

IPI, a Cebuano-owned company, which also maintains its manufacturing plant here, is ready to conquer the global market, as it is currently processing its application with the Food and Drug Administration (FDA) in the US, and similar requirement in the European Union (EU) member countries.

Wong believes that there are a lot of Filipino-owned pharmaceutical companies that have good herbal-based products, but they have difficulty to market, because of lack of support and financial capacity.