The Department of Health (DOH) has listed a total of 120 high-cost medicines that will be recommended for price reduction under a maximum drug retail price (MDRP) scheme.
Under the scheme, which is in accordance to Republic Act No. 9502 or the Universally Accessible Cheaper and Quality Medicines Act of 2008, prices of selected medicines are expected to be reduced by an average of 56 percent from prevailing market prices.
The price reduction will commence once an executive order is issued.
Included in the list are medication for hypertension, diabetes, heart disease, chronic lung diseases and major cancers. Also included are high-cost medications for chronic renal disease, psoriasis and rheumatoid arthritis, among others.
“We need to impose the MDRP if we want better health and societal outcomes for Filipinos,” said Health Undersecretary Eric Domingo.
“Generic drugs are still sold up to four times the international reference prices whereas branded innovator products are sold up to 22 times higher, especially in private hospitals and pharmacies,” Domingo added.
Medicines due for price reduction were chosen based on the magnitude and severity of a disease, average prices in other countries, and the presence of limited competition, Drug Price Advisory Council chair John Wong said.
The DOH also released on Thursday online versions of the Philippine National Formulary (PNF) and new antibiotic guidelines.