Filipino-owned Pharmawealth Laboratories Inc. is expanding into the production of inhalation anesthesia, the third phase of the firm’s development of a multi-specialty pharmaceutical plant, for both local and export market.

With an investment of P39.204 million, the company has proposed to produce 50,000 bottles of anesthetics such as Sevoflurane, Enflurane and Isoflurane in the form of liquid formulation.

Aside from the local market, the products would be exported to Vietnam, Malaysia and Pakistan.

The Board of Investments has approved the project with non-pioneer incentives.

This phase is already the third of the firm’s development of a multi-specialty pharmaceutical plant.

The first phase involved the establishment of the Penicillin plant to serve the local market while the second phase involved the setting-up of the Caphalosporin plant intended for both local and export markets. The latter project was granted registration on a pioneer status by the BoI.

According to its BOI application, the multi-specialty pharmaceutical plant is intended to meet the growing requirement for cost effective life-saving drugs that will be marketed in their generic formulations.

The project is consistent with the Generics Act of 1988, which aims to provide the public with the right to choose quality drugs and medicines at the most economical cost possible.

With the BoI approval, Pharmawealth said it would be selling its products at a price lower than the currently available brands in the market.