Core Insights - The Philippine pharmaceutical market is projected to generate $2 billion in revenue this year, driven by the demand for generic drugs and the implementation of Universal Health Coverage (UHC) [2] - The market is expected to grow at a stable rate of 4.1% annually until 2029 [2] Industry Overview - The Philippine pharmaceutical industry remains reliant on imports, with a steady increase in drug imports from 2019 to 2024, while exports have been declining [2] - In the first half of 2025, exports decreased by 25%, whereas imports grew by 5% [2] Strategic Initiatives - The Philippine Board of Investments (BoI) has implemented a comprehensive roadmap for the pharmaceutical industry (IRPPI) since 2023, which includes the release of guidelines for pharmaceutical economic zones and the simplification of export processes [2] - Plans are underway to establish a Philippine Virology Research Institute, aimed at enhancing the flexibility and resilience of the industry’s value chain [2] - The goal is to increase domestic manufacturers' capacity to produce registered drugs to 60%, positioning the Philippines as a major producer of essential medicines and services [2]