Moderna executives visit PH to finalize solutions hub details

By Othel V. Campos

BIOTECHNOLOGY and pharmaceutical giant Moderna Inc. seeks to bring in advanced vaccine sciences to the Philippines to counter, if not prevent diseases associated with tropical countries in partnership with the government.

Moderna senior vice president and general manager Patrick Bergstedt said in a news briefing Wednesday the company also aimed to bring in bivalent COVID-19 vaccines to stem the surge of infections in the Philippines.

“Moderna has various vaccines in various developments including the RCV [respiratory syncytial virus]. That could be vaccine 2. The area we are very interested in and very excited about is the potential to develop combination vaccine that could provide broad protection across a number of respiratory diseases, and another vaccine that will prevent birth defects,” he said.

Bergstedt said Moderna was also looking at developing vaccines to address tropical diseases like dengue.

The biotech firm is actively seeking regulatory approval for the use of bi- valent COVID-19 vaccine for the Philippine population.

Bergstedt is in the Philippines , together with Moderna Enterprise Solution head in Poland Łukasz Wielochowski, for a couple of days to finalize a proposal to build the Moderna Enterprise Solutions Hub Philippines, its third in the world after those in Warsaw, Poland and Atlanta in the US.

Wielochowski said Moderna was engaging all parties interested to team up with the company for the Philippine hub, but the investments were still being finalized pending the selection of local partners.

Both executives underscored the rigid process of choosing the country of choice to house the third enterprise solutions hub, before agreeing on the Philippines as the next hub.

“We went through a robust process of looking at various countries in the region that provide shared services or call centers and outsourcing capabilities. We are here for the longterm commitment, and we hope to build upon that for the future,” Bergstedt said.

He said the Philippines’ growing population is a sizable market for their vaccine products and serves as a huge pool of talent from the medical profession who are capable of sustaining Moderna’s presence across the Asia Pacific.

The first phase of Moderna’s operations in the Philippines will involve the establishment of the Enterprise Solutions Hub that will open 40 to 50 new positions. The hub will be staffed by Filipinos and run by Filipinos.

Moderna expects the new facility to be up and running by September 2023. The company is also setting up a commercial office that will work very closely with the government to ensure that the biotech firm is providing access to muchneeded vaccines.

In Brief

Chevron renews lease with Batangas Land Co.

TRADE Secretary Alfredo Pascual commended the renewal of partnership between Chevron Philippines Inc. and Batangas Land Company Inc. that aims to extend energy firm’s lease of BLI’s land until 2050.

“We are delighted to know that there is this intent on the part of Chevron Philippines and Batangas Land, as documented in this MOU to renew the lease on Batangas Land’s assets. This is a testament to continued investor confidence in the Philippines. And it signifies the country’s ability to provide a long-term enabling environment for growth of global companies that choose to do business in the country,” said Pascual.

BLCI, a government-owned and controlled corporation, is a subsidiary of the National Development Company. Pascual, as chairman of NDC, said the agreement would strengthen the Philippines-United States economic relations, while fulfilling one of the country’s most important objectives—pursuing energy security. Othel V. Campos

AIA Philippines bullish on insurance prospects

INSURANCE provider AIA Philippines continued to deliver on its mission as it stays focused on its objective of saving lives, fulfilling dreams, securing the futures of countless Filipinos.

Among the accomplishments disclosed for 2022 are those related to the launch and acquisition of its subsidiaries, AIA Investment Management and Trust Corporation Philippines (and MediCard Philippines, key pieces that will be instrumental in establishing AIA Philippines as the leading brand for Filipinos’ protection, long-term savings and healthcare needs.

“2022 was a big year for AIA Philippines, as we continued to take on major initiatives, ensuring that we are well-positioned to capture the opportunities ahead. At the same time, we are happy to have kept the course in terms of our save lives commitment, where we achieved almost 90 percent of our target number of Filipinos with insurance protection, with over 90 percent achievement of our sum assured targets,” said AIA Philippines chief executive Kelvin Ang.

Newly-appointed MediCard Philippines chief executive Julian Mengual expressed excitement to take the health maintenance organization to even greater heights in collaboration with AIA Philippines. The AIA Philippines and MediCard Philippines collaboration will drive business results for both companies by offering a complete suite of innovative products across distribution channels. With the combined strength of the two companies, customers can expect improved service levels, supported by technology, digital and analytics, with better health outcomes.

SEC commissioner named Thought Leader of the Year

THE work of the Securities and Exchange Commission led by commissioner Kelvin Lester Lee to grow financial technology in the Philippines has brought pride to the country after he was recognized as the top winner in the category of “Thought Leader of the Year” by the Asia Pacific Stevies Award. Lee’s exceptional contributions to the field of fintech garnered recognition from the international community and cemented his position as a leading authority in the Asia-Pacific region, triumphing over other winners from the Philippines, Australia, Indonesia and India.

Apart from the gold prize, Lee also won the coveted Grand Stevie Award for the Philippines, a recognition presented to the highest-scoring nomination from each of the four nations that submitted the most nominations to the competition, after getting an impressive score of 8.83/10 from international jurors.

As an incumbent commissioner of the SEC, Lee has been instrumental in spearheading groundbreaking initiatives within the realm of fintech. His noteworthy accomplishments include his involvement in the pioneer cohort of the University of Cambridge’s Fintech and Regulatory Innovation Programme, which significantly influenced his drive for a meticulous and balanced policy approach to fintech regulation.