Price cap of more medicines, drugs takes full effect on March 22
MANILA, Philippines — The price cap for more medicines and drugs will take full effect on March 22 next year, Health Undersecretary Maria Rosario Vergeire said on Saturday.
The health official was referring to President Rodrigo Duterte’s recent executive order, setting the maximum retail price of 34 drug molecules and 71 drug formulas.
“This will provide benefit to our population especially na kailangan nating mas maging [when we need to make] affordable ang ating mga gamot lalong-lalo na [our medicines] in this time of the pandemic,” Vergeire said during the Laging Handa briefing.
“So, ito po ay binigyan ng 90 days para po magkaroon ng effectivity. So, ang kanyang full effect will be on March 22, 2022,” she added.
(So, it was given 90 days to be effective. So, it’s full effect will be on March 22, 2022.)
According to Vergeire, the leeway will give “drug establishments to consume their existing inventories.”
Violators of Executive Order No. 155 will face fines and administrative sanctions under the Cheaper Medicines Act. Penalties will range from P50,000 to P5 million for every violation that they will incur.
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