Global pharmaceutical and health care giant Johnson & Johnson is eyeing to expand its Philippine service center to serve countries outside the Asia Pacific, a ranking official said Tuesday.
In a press conference, Johnson & Johnson chief financial officer Dominic Caruso said the company's newly inaugurated $13.5-million Global Finance Services (GFS) Center in Parañaque City is being set up to handle financial transactions of subsidiaries outside the region — aside from its current functions.
At present, the GFS Center — with 700 seats — is being manned by about 100 employees, with 50 more soon to come on board by year-end, Caruso disclosed.
The 6,900-square meter facility is in the compound where Johnson & Johnson used to have its manufacturing operations.
The company also has a GFS Center in China which is also serving Asia, but Caruso said its local operations would be bigger.
Domestic sales of the company's consumer goods, meanwhile, are expected to rake higher revenues due to additional products soon to be infused into the market.
Caruso said Philippine sales of consumer goods as well as pharmaceutical products and medical devices reached about $260 million in 2010, up 7.5 percent from the previous year's sales.
The local subsidiary, however is but a small contributor to last year’s global sales of about $62 billion.
Zinnia Rivera, Johnson & Johnson Philippines Inc. president and managing director, said some Johnson & Johnson products sold locally are now being churned out by toll manufacturers, after the company’s plants were closed during the previous decade. — JMT/VS
