Wholly or Partly Nationalized Activity; Anti-Dummy Law

November 26, 2019SEC-OGC OPINION NO. 57-19WHOLLY OR PARTLY NATIONALIZED ACTIVITY; ANTI-DUMMY LAWAtty. Gener C. SansaetLegal CounselAmbicare Pharmaceuticals, Inc.#9 Amsterdam Extension, Merville Park Subd.,Parañaque City, Metro ManilaDear Atty. Sansaet :This refers to your letter dated 02 October 2019 requesting the Commission's opinion on whether Ambicare Pharmaceuticals, Inc. ("Ambicare") is an enterprise engaged in a wholly or partially nationalized activity under existing laws. In your letter, you stated that Ambicare is a corporation primarily engaged in the importation and trading of pharmaceutical, cosmetic and food products having a paid-up capital of P14,000,000.00. You further disclosed that Ambicare is engaged in the distribution, marketing and wholesaling (except retailing) of branded generic pharmaceutical, nutraceutical and cosmetic products.You also described Ambicare's business model as follows: (1) Business Development (Product Sourcing); (2) Purchasing and Importation; (3) Quality Control; (4) Warehousing/Storage; (5) Sales and Marketing; (6) Distribution and Logistics; and (7) Channels (Customers) — Distributors, Chain Drugstores, Hospitals, Wholesalers, Independent Drugstores, and Private and Government Institutions.Hence, the instant query.To determine whether Ambicare is engaged in a wholly or partly nationalized activity, the...