PHARMACEUTICAL companies are proposing to cut prices of 150 medicines for 36 disease categories by up to 75%, if the government buys the medicine in bulk and sells them through state hospitals.
“It is actually at these levels of prices which we have been selling to the government in bulk in the past years. Several of our members are prepared to extend these same price reductions to the public, if the Department of Health (DoH) will agree,” Pharmaceutical and Healthcare Association of the Philippines (PHAP) Executive Director Teodoro Padilla said in a statement on Wednesday.
Mr. Padilla said the government hospitals offer the cheapest medicines since they make bulk purchases directly from pharmaceutical firms. He noted an anti-cholesterol tablet can be sold for only P0.35 each at a government hospital.
Citing data from the DoH-Drug Price Reference Index, PHAP said the agency acquired medicine for breast cancer that was 74% lower than the market price.
PHAP said the price reduction will cover 150 medicines for heart disease, diabetes, kidney disease, asthma, psoriasis, neurologic disorders, HIV, infectious diseases, as well as various types of cancer.
The DoH has already submitted to Malacañang a list of proposed maximum retail drug prices for 120 medicines covering the Top 40 health concerns. If given the President’s go signal, an executive order will be issued.
PHAP reiterated that price controls over drugs are not beneficial.
“In addition, price control, based on experience worldwide, cannot be sustained mainly because the people have no money to buy to begin with. It also leads to market inefficiencies that will hurt the public in the end,” Mr. Padilla said.
“The proposal to impose price control needs further study and consultation with the stakeholders. We are willing to help the Department and at the same clarify any misimpressions about medicine pricing in the country,” he added. — G.M.Cortez
