Pharmaceutical industry offers large medicine discounts in the Philippines
In recent developments, the Pharmaceutical and Healthcare Association of the Philippines (PHAP) offered substantial price reductions (up to 75%) for over 150 medicines in 36 disease categories. Drugs covered by this reduction include several oncology medicines (for breast, lung, ovarian, lymphatic cancers and more) and treatments for heart disease, diabetes, asthma, neurologic disorders, HIV, among others.
The price reductions were made for medicines sold to the government (and consequently made available at public organisations such as hospitals pharmacies), however they are expected to be felt downstream the supply chain at private retail pharmacies.
This sudden move of PHAP is likely a response to recent Executive Order (EO) from Philippines’ Department of Health imposing maximum drug retail prices (MDRP) on at least 120 medicines. The EO mandates drug price reductions of up to 56 percent.
These events are part of recent discussions on medicines price levels in the Philippines and how they compare versus other countries in the region. While the government sees drug prices as disproportionately high compared to other east Asian countries such as China, the PHAP feels that government price controls are not a way forward and they ‘failed in other countries in the region, notably China’. Forthcoming months will witness further discussions between the pharmaceutical industry and the Philippines’ government on finding common ground on drug pricing reforms.
Global Pricing Innovations are industry-leading experts in pricing and market access. We can support you with comprehensive pharmaceutical pricing data in 90 markets worldwide, including Philippines, and with our consulting services. Please contact us to discuss how we can help you.
by Jack Ziomek – Project Manager Web Platforms