The Department of Health (DOH) has formally received the consolidated undertaking of various pharmaceutical companies to bring down prices of a list of medicines in the Republic of the Philippines. However, the mark down in the prices only includes those that address major public health concerns such as hypertension, diabetes, common infections, and cancer, among others.
Based on the recent report .The list was transmitted by the Executive Director Reiner Gloor of the Pharmaceutical Healthcare Association of the Philippines (PHAP) where it contained a summary of the medicines being offered and their respective price reductions. It carried the proposals of both PHAP member companies and some non-PHAP members.
The DOH with the Department of Trade and Industry (DTI) are urgentlyreviewing the said list, validating the prices, identifying any possible
inconsistencies, and assessing the practicability of the said undertaking. After the said review and consultation, the DOH and DTI shall jointly make their recommendations to the President whether to accept or reject said submission.
“We take note of the timely submission of the pharmaceutical companies and their commitment to lower medicines prices of their common products by at least 50%,” said Health Secretary Francisco T. Duque III.
“It is good that they met the deadline of the President and that they did not ask for extensions or engaged in any dilatory tactics,” Duque elaborated.
“We are making sure that the 21 molecules are reflected in their proposal and that the price reductions are consistent with the 50% price reduction policy that has been adopted,” stressed Trade Secretary Peter Favila.
“We take note of the timely submission of the pharmaceutical companies and their commitment to lower medicines prices of their common products by at least 50%,” said Health Secretary Francisco T. Duque III.
“It is good that they met the deadline of the President and that they did not ask for extensions or engaged in any dilatory tactics,” Duque elaborated.
“We are making sure that the 21 molecules are reflected in their proposal and that the price reductions are consistent with the 50% price reduction policy that has been adopted,” stressed Trade Secretary Peter Favila.
In addition to the 21 molecules, the consolidated summary in the letter of undertaking also contained a list of other products offered for voluntary price reductions.
On the left is an image of the President with the Botika ng Bayan at the background showing hopes of cheaper medicines in the Philippines.
