Bell-Kenz Pharma Inc. Chairman and Chief Executive Officer Luis Go faces Senate probe on the alleged “multi-level” marketing schemes leveled against the company. (Screengrab from the Senate hearing)
MANILA, Philippines — There is no law forbidding physicians from owning or investing in private ventures like pharmaceutical and medical device companies, hospitals, and diagnostic centers, a professor of legal medicine said.
The pronouncement was made by doctor and lawyer, Atty. Antonio Rebosa, in relation to the ongoing Senate inquiry into the marketing practices of Bell-Kenz Pharmaceutical, Inc.
READ: Bell-Kenz Pharma admits giving incentives to doctors
“As long as doctors comply with all legal requirements, including disclosure of potential conflicts of interest – if specifically mandated – I hold the view that medical doctors are not prohibited from engaging in business,” Rebosa said, as quoted in a statement on Sunday.
He added that, just like any other individual, medical professionals also have the right to invest in any sector, including in healthcare.
“Such investments do not inherently violate any legal or ethical standards,” Rebosa added.
READ: Bell-Kenz Pharma eyeing raps vs detractors
He also explained that ethical medical practice is not compromised by owning related businesses.
He noted that patient’s welfare should always be the guiding principle for healthcare professionals.
“The key is managing potential conflicts of interest effectively,” he said.
“This can be achieved through transparency, proper disclosure, adherence to strict guidelines, continuous education, and robust monitoring by medical associations,” Rebosa noted.
Bell-Kenz is facing accusations that it is giving luxury gifts and substantial commissions to doctors who prescribe the company’s medicines.
Its Chairperson and Chief Executive Officer Luis Go denied the allegations hurled against the firm.
He said Bell-Kenz is a “law-abiding pharmaceutical entity” and it is “adhering” to all government regulations.