The government has received a proposal from local firm Glovax Biotech Corp. in partnership with LG of Korea for a P7-billion project in the production of second-generation flu vaccines in the face of the new coronavirus disease 2019 pandemic.
Government sources said Glovax officials on Friday met with Trade Secretary Ramon Lopez for the possibility of the National Development Co. (NDC) to take an equity into the project.
Chaired by Lopez, NDC is the Department of Trade and Industry’s investment arm.
One of the sources said the project is purely exploratory for now and that
Glovax officials will meet today with Trade Undersecretary Ceferino Rodolfo, managing head of the Board of Investments.
Glovax is an integrated distributor and retailer of vaccines in the Philippines offering vaccines, mostly for influenza, directly to consumers through community health centers. – Irma Isip