MANILA, Philippines – Senator Juan Edgardo Angara on Saturday, October 19, backed the imposition of a price ceiling on 120 medicines, as theThe list covered medicines for the following illnesses: hypertension, diabetes, cardiovascular disease, chronic lung diseases, neonatal diseases, and major cancers.chronic renal disease, psoriasis, and rheumatoid arthritis.," Angara said.
The DOH earlier said that the generic medicines in their list were being sold"up to 4 times" the international reference prices, while branded innovator products are sold"up to 22 times higher," particularly in private hospitals and pharmacies. The MRP of the medicine part of the list are expected to have a mean price reduction of 56% from prevailing market prices.
This would be the second batch of medicines that will be included in the MRP scheme, pursuant to Republic Act No. 9502 or the Cheaper Medicines Act of 2008.According to the 2017 Philippine Statistics Authority data, Filipinos spent P6,090 on health expenses per year per person. Household out-of-pocket health expenses, meanwhile, accounted for 54.5% or P373 billion of the current health expenditures in 2017. About half or P187 billion went directly to the purchase of medicines.
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