THE Department of Trade and Industry (DTI) calls for a review of the pros and cons of an executive order (EO) lowering the prices of medicines in the light of the new coronavirus disease 2019 (COVID-19) pandemic.
DTI Secretary Ramon Lopez would not comment on calls to suspend or delay the implementation starting June 2 of EO 104 which lowers the prices of 135 medicines by 45 to 55 percent, saying he is yet to review the impact of COVID-19 on the directive.
“I suggested DOH (Department of Health) may need to review the pros and cons given a different situation now under COVID,” Lopez said in a text message to reporters.
In a virtual general membership meeting of the Philippine Chamber of Commerce and Industry on Tuesday, Lopez reacted to a businessman’s query how the EO could disincentivize the industry to bring in not only COVID-19 related medicines but other drugs.
While the move to lower medicine prices is under the purview of the DOH, Lopez agrees the pandemic has given rise to calls on “how we can adjust the executive order …what adjustments can be done… to address requirements under COVID-19.”
“(The EO ) is being pushed by the DOH. The DTI has a different view. We just need to discuss if it helps to revise that program (lowering prices of medicines) anew,” Lopez said.
While Lopez noted the importance of the program, he also cited its two opposing effects.
“On one hand it will help also stabilize prices of key medicine products. On the other hand, one industry is saying that (they) might not be able to enjoy the innovations that can be employed (by the sector) especially if a specific medicine is included in the list covered by the price control,” Lopez said.
“So, it’s better to have that discussion to reconsider the pros and cons of this EO,” he added.
Covered by the EO issued in February are medicines for hypertension, diabetes, anti-asthma, anti-coagulant, anti-depressant, and anti-viral medicines.
The Pharmaceutical Association of the Philippines appealed for the withdrawal of the measure be withdrawn until further studies especially at this time when the government needs funds to fight COVID-19.
PHAP said government stands to lose P28 billion in revenues while the industry projects its revenues to drop by P57 billion from P200 billion once the full price control plan of the DOH is fully implemented.
