- In 2022, Novartis contributed PHP 7.5 billion to the Gross Domestic Product (GDP). Nineteen percent (19%) of our total GDP contribution in the Philippines stems from innovation (R&D)
- The full Novartis portfolio of medicines reached 800,000 Filipino patients across 50 Novartis innovative medicine brands
- Filipino patients who took Novartis medicines gained a total of 5,361 quality-adjusted life-years
Novartis continued to make substantial contributions to support the rebuilding of the Philippine post-pandemic economy and strengthening of the country’s health care system in 2022.
“Our latest Social, Environmental and Economic [SEE] impact valuation reflects our commitment to support the government and business sector in accelerating and sustaining the country' economic recovery post-COVID, as well as in fostering a stronger and resilient health care system to improve Filipinos' health. This report helps stakeholders see and appreciate the impact Novartis has created in a measurable, quantifiable manner.” said Mr. Joel Chong, Country President, Novartis Healthcare Philippines, Inc.
The SEE is the Novartis approach to measuring the social and environmental impact our business activities have on society, in addition to our economic value
In 2022, Novartis contributed PHP 7.5 billion to the Gross Domestic Product (GDP). Nineteen percent (19%) of our total GDP contribution in the Philippines stems from innovation (R&D). Our company generated an indirect GDP contribution of PHP 1.8 billion through goods and services bought from vendors in the Philippines by Novartis entities outside of the country. Our business operations created a total of 6,951 local jobs, including the employment of 203 Filipino associates.
In 2022, the full Novartis portfolio of medicines reached 800,000 Filipino patients across 50 Novartis innovative medicine brands.
The total impact of Novartis medicines on Filipino patients amounted to nearly PHP 1.1 billion. This is broken down to PHP 912.9 million in paid work and PHP 180 million in unpaid work.
Filipino patients who took Novartis medicines gained a total of 5,361 quality-adjusted life-years (QALYs). QALY is a generic measure of disease burden, including both the quality and the quantity of life lived. It is used in economic evaluation to assess the value of medical interventions. One QALY equates to one year in perfect health.