An estimated 36,000 local species and biochemicals that could yield wonder drugs against cancer and other incurable diseases are threatened by "biopiracy" and the continued denudation of natural habitats.
The Philippine Institute of Traditional and Alternative Health Care (PITAHC) of the Department of Health (DOH) reported that the Philippines has been identified as an environmental "hot spot," meaning that rare species and biochemicals face possible extinction.
Dr. Elesio Banaynal, acting chief of PITAHC, said about 12,000 rare species and biochemicals have been recorded in the country, but the figure is expected to triple if other species are identified.
Banaynal said the country has been identified as one of 17 "megadiversity countries" which account for three-fourths of an estimated three to 30 million terrestrial, freshwater and marine species on earth.
Of the total species, only about 1.4 million have been identified and recorded, leaving an enormous potential to find rare biochemicals which may eventually be used as cure against deadly diseases like AIDS and cancer.
"The Philippines has an enormous volume of rare species but we are in danger of losing them because of massive deforestation and other man-made problems," Banaynal said.
Massive deforestation, agricultural expansion, industrial pollution and increasingly unpredictable climate swings threaten the sustainability of the country's existing rare species, he added.
Government authorities have admitted that many of the country's biochemicals are also being threatened by foreign companies in search of plants and other organisms for the cure of fatal diseases.
Banaynal said many foreign scientists are conducting studies on some of the country's rare biochemicals, often leading to biopiracy in the absence of appropriate laws.
Congress is now investigating reports that bio-prospectors have secured patents on some of the country's indigenous species.