In order to speed up the company pace to the ASEAN market, Chairman Huang WenLai led the company's core executives to visit the Philippines this month. On March 17, 2017, Philippine President Duterte held the meeting with Chairman Huang and his team, and the director of the State Drug Administration of the Philippines and the vice minister of Health Department also attended the meeting in Davao. Through this meeting, the Company learned from the Philippine authorities about the opportunities for investment in the Philippines. The Philippine government also extended a warm welcome and looked forward to close cooperation and win-win cooperation.
is understood that the population of the Philippines is more than 100 million
people, but there are only 5 LVP factories and no vaccine company all over the
country. Also, the production of LVP is mainly basic LVP in the country,
therefore, more than 80% of LVPs have to rely on imports. The vaccines are very
rare in the Philippines, whose economy is dominated by agriculture. We expect
that Pharmally will quickly enter the LVP market of the Philippines and achieve
a certain market share, relying on its long-term accumulation of technology and
experience in LVP industry. At the same time, we will also assess the feasibility
of establishing pig vaccine factory with Weike Company in the Philippines,
thereby enriching the Company's product mix.