DOH to release new list of drug price cuts soon
Manila (9 February) -- Health Secretary Esperanza Cabral said the Department of Health would release in about two weeks a list of "voluntary" price reductions made by pharmaceutical companies to avoid a government-ordered mandatory price cut.
Cabral said the new list covers about 20 molecules, or the basic drug ingredient, for medicines against cancer and hypertension, and antibiotics among others.
Last August, Malacaņang, upon the DOH's recommendation, imposed a maximum drug retail price (MDRP) equivalent to a 50-percent price reduction on five essential medicines.
Under pressure from the Palace, pharmaceutical companies agreed to cut by half the prices of 16 other essential medicines.
The Cheaper Medicines Law allows the government to impose the MDRP if market competition fails to bring down the cost of medicines. (PIA) [top]