Philippine drug compounding firm to grow amidst pandemic
Apotheca Integrative Pharmacy (Apotheca), a local specialty compounding pharmacy is set to pursue bigger growth potential during the COVID-19 pandemic due to the rising demand for patient-specific medications. Apotheca was licensed by the Philippine Food and Drug Administration since 2014 – it has most recently seen an uptick in sales from its combination vitamin, specifically composed of Vitamin C, D3, and zinc.
Apotheca Marketing Manager Benjamin Topacio believes that the company is the first in the country to formulate this combination vitamin during the pandemic.
Topacio said the company started conducting webinars in 2021 to inform doctors of the company’s custom offerings that would provide proper health care for their patients. The company has also started hiring members of its sales team to widen awareness on drug compounding and its many benefits.
[Drug compounding is a process of mixing ingredients to cater to a patient’s specific needs. The final product may be in the form of capsules, liquid, or lozenges, depending on the ease of drug administration.]
During a recent virtual briefing, Apotheca Managing Director Sophia Lista said the global compounded medication industry is growing and is seen to expand by around 6% in the next six years, after recording around US$10.3 billion revenues in the past six years. She said there are only four compounding pharmacies in the Philippines out of the around 40,000 drugstores registered with the US Food and Drug Administration.
“Parallel with the growth of the local industry, pharmacy industry, and the global compounding markets it really encourages us to continue striving for quality and improvements overall in any direction for us – there’s a lot of potential [for us],” said Lista.
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