expressed doubts that the group can guarantee lower prices at drug stores and private hospitals, which comprise “at least 90 percent of the total pharmaceutical market.”
In an effort to thwart the government’s plan to impose a price cap on more than a hundred medicines, the PHAP on Wednesday offered to cut by as much as 75 percent the price of 155 medications across 36 disease categories.However, “given its voluntary nature,” the PHAP cannot guarantee price reduction, said Health Secretary Francisco Duque III in a statement.
He also pointed out that of the 155 drugs promised, only 107 would have prices cut across the pharmaceutical market. The remaining 43 would only be offered to DOH hospitals which cover less than 1 percent of the market.The DOH added that only 63 of the 122 drugs proposed for price reduction were included in the list, with no price reduction for other high-cost medicines.