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Unilab develops and markets a wide range of ethical and consumer products
in the following therapeutic segments:
Anti-Allergy
Endometabolics
Anti-Asthma-COPD
Eye-Ear
Anti-Fibrinolytics
Gastrointestinal
Anti-Infectives
Genito-Urinary-Nephro
Anti-TB
Hospital Solutions
Cardiovascular
Medical Device
OB-Gyne
Cosmetics
Oncology
Cough-Cold
Oral Care
Dermatologicals
Somatics
Dietetics
Vitamins
4. What is the tone from the tone from the top regarding good corporate
governance
Unilab promotes good corporate governance which can be seen from the top
management and cascaded down to the rank and file employees. The
company has implemented strict policies and procedures, and set appropriate
standards to assure high quality throughout daily activities in the organization
from hiring employees to production up to production and distribution.
Customers need for the best medicine can surely be provided by Unilab.
The company is managed in a very Filipino way through their practice of
Bayanihan. Unilab does not only focus on improving and expanding
business, but they also want to uplift the lives of people. Unilab has also been
recognized as one of the companies who gives opportunities to persons with
disabilities (PWDs) and not only do they hire but they also encourage other
companies to follow suit.
Throughout the years, you can see how the company is very consistent in
fulfilling their organizational goal of producing high quality medicine at
affordable prices. Their products are used by many households and
prescribed by the doctors nationwide. They continuously conduct research
and development project to keep improve and innovate their products, and
better adapt to the ever changing market demands. Also, since 2012, Unilab
has launched Link-Up an open door program where people can share their
ideas to serve the health, wellness and personal care needs of our country
thus, creating more opportunities in the health care sector. Now, Unilab
positions itself as one of the top pharmaceutical companies not only in the
Philippines, but worldwide.
7. Tax Compliance are the companies tax compliant?
Yes, we believe that Unilab is tax compliant. In fact, they are listed as the 48 th
highest non-individual taxpayer as of March 6, 2015.
8. Employee relation how does the company treat its employees?
Unilab treats their employees as very essential assets to the organization.
Without a good combination of people in the workforce, operations will not run
smoothly, and business will never be a success. We believe that the company
takes good care of their employees and they are motivated.
First, the employees receive good salary, compensation and employee
benefits. The company makes sure that information is well received and
understood by the employees. Employee performance is periodically
assessed and evaluated. Unilab maintains work life balance where they even
promote family day activities for the employees. Excellent performances of
employees are recognized through programs such as The Outstanding
Performers (TOPs) of the Year.
9. What are the current issues you think the companies are dealing?
With the increase in the number of hospitals and health centers in the country,
the government is creating more ways for Filipinos to have access to better
healthcare services and better socio-civic programs, like the Pantawid
Pamilyang Pilipino Program, that gives conditional cash transfer to selected
families that are in extreme poverty. That would result to an increase in
demand for medicine in the Philippines, which would surely affect the industry.
Another issue would be R.A. 9502 or the Universally Accessible Cheaper and
Quality Medicines Act of 2008, which intends to enhance access to generic
medicines that are cheaper but are of quality. This law allows the parallel
importation of patented medicines from other countries where they are more
affordable. The president also imposed price ceiling on various drugs that
were recommended by the Department of Health. We consider this as an
issue as consumers are given more options, that are cheaper that their line.
Not only does Unilab battle it out with cheap generic medicines, Unilab also
has dozens of competitors as the industry continues to grow and the
emergence of more players in the field. Substitutes in the market which
encourage consumers to switch to the different alternatives offered. The
company must surely continue their commitment to excellence and quality, as
they rely deeply on their brand as a company that ensures the highest
reliability and quality of medicine in the country.
10. What are the future issues you think the companies should be preparing
for?
New innovations in the production of pills, syrup, capsules and others types of
medicines, such as new equipment and new procedures and even discovery
of new materials may affect Unilab and the industry. These new innovations
would require high costs but it would result to an increase in quality and would
eventually result to cost savings in the long run.
Laws and regulations can affect the practices in the pharmaceutical industry.
An example of this could be a regulation for a decrease in medicine prices
and amendments in medicine standards, can make pharmaceutical
companies to change current production methods to maintain their gross profit
ratio and comply to with the new standards.
Another issue we foresee Unilab would face is inflation. A general increase in
the prices of general commodities and the decrease of the purchasing power
of the peso, could affect the business sector including the pharmaceutical
industry. People would tend to prioritize their physiological needs, such as
food, water, and shelter for the family first before buying medicine, which
would opt consumers to buy a cheaper alternative.
Overall, we could say the biggest issue Unilab would face in the future would
be change. How fast they could adapt to change. How would they handle
change. How could Unilab grow with changes that could affect them
negatively.
11. Reasons for selecting the company
We considered Unilab as one of the three companies since they are one of
the prominent players in the pharmaceutical industry in the country. They are
also one of the most recognized pharmaceutical company here and in the
Southeast Asia. They also exhibit good corporate culture and a strong and
standing foundation as a family owned business. Their corporate social