The Board of Investments (BOI) said it registered the first pharmaceutical services project in the country through Glenwood Services Philippines, Inc. (GSPI), a subsidiary of Germany-based Glenwood GmbH.
In a statement on Tuesday, the BOI said GSPI has opened its new facility in Taguig, offering quality regulatory affairs and pharmacovigilance services to help pharmaceutical companies ensure drug safety, manage risks, and maintain global compliance.
Glenwood GmbH, based in southern Germany, is a pharmaceutical marketing authorization holder specializing in regulatory affairs, quality, and pharmacovigilance. The company also distributes and markets niche products in various countries worldwide.
The BOI said the project is qualified for registration under the Strategic Investment Priorities Plan’s preferred activities under Tier I on healthcare.
GSPI has created high-level jobs in the Philippines, tapping into the country’s pool of professionals, including pharmacists, chemists, and medical science graduates.
The BOI manages incentives under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) and the CREATE to Maximize Opportunities for Reinvigorating the Economy (MORE) including special corporate income tax rates, income tax holidays, value-added tax exemptions, and enhanced expense deductions under simplified tax regimes for registered businesses.
In a related development, the BOI said its acting director Ronaldo Buluran presented to the Philippine Pharmaceutical Manufacturers Association (PPMA) during its 1st General Membership Meeting and Manufacturing Summit for 2025 at the World Trade Center on February 12 the significant tax incentives of CREATE MORE.
Buluran, the BOI said, noted the incentives are not only for large but also for micro, small, and medium enterprises (MSMEs), enabling smaller pharmaceutical companies and suppliers to scale up their operations.
Additionally, he noted that businesses engaged in health-related activities and addressing supply chain gaps could receive better incentives, further promoting sustainable and responsible pharmaceutical manufacturing in the country.
