AMID the coronavirus disease (COVID-19) pandemic, the Department of Health (DOH) yesterday reminded the public that the executive order (EO) on the Maximum Drug Retail Price (MDRP) is now in effect.
Health Secretary Francisco Duque III said Executive Order No. 104, which sets price caps for 87 medicines or 133 formulations, is already effective after it was signed back in February by President Duterte.
“The DOH has always prioritized the health of every Filipino in all its policies and decisions. EO 104 provides economic relief to Filipinos by making life-saving medicines more affordable,” Duque said as he stressed the importance of making medicines affordable as the country continues to battle the health and economic impacts of COVID-19.
The EO mandates a 50 percent reduction on the prices of medicines for top burden diseases, totaling to 87 medicines or 133 formulations.
Among the drugs and medicines included in the program are those for anti-hypertensive, anti-diabetic, anti-cancer, immunosuppressant, analgesics, anti-asthma and COPD, anticoagulant, anti-angina, agents affecting bone metabolism, anti-emetic, and psoriasis, seborrhea, and ichthyosis preparations.
Also listed are antidepressants, iron chelating agents, growth hormone inhibitor, antiviral, fibrinolytic, hematopoietic agent, mucolytic, parenteral nutritional product, phospate binder, and surfactant.
Citing as an example, the health chief said a diabetic patient on daily insulin glulisine spending P818.75 per pre-filled pen, can now purchase his medication at P435.18.
If he is a senior citizen, Duque said the law grants him a mandated 20 percent discount resulting in a final purchase price of just P336.14, which is almost a 60 percent deduction in the original price of the insulin.
Also yesterday, the Pharmaceutical and Healthcare Association of the Philippines (PHAP) reiterated its opposition to the drug price cap imposition.
PHAP, in a statement, said price control imposition has not been found effective as seen in other countries.
The umbrella group for pharmaceutical firms added that the measure will also lead to P28 billion losses in revenues for the government, including P4 billion in foregone customs duties; P7 billion in lost VAT; and P17 billion in corporate taxes.