|
The Senate on Wednesday approved on third and final
reading Senate Bill 2263, which seeks to amend specific provisions
of the Intellectual Property Code to make medicines more affordable
in the country.
The Senate voted 20-0 to approve
of the measure authored by Sen. Mar Roxas. After it becomes a law,
Roxas said the bill would herald an era when Filipinos would be able
to buy their medicines at more affordable prices.
“This is just a first step
toward promoting competition in the local pharmaceutical market that
would increase people’s access and lead to lower prices of
medicines to ensure our people’s health,” he said.
Senate Bill 2263 seeks to address
the three major obstacles to the people’s access to affordable,
quality medicines:
1. Structure of the
pharmaceutical industry. Roxas said that “unlike other countries,
the industry here is characterized by extreme concentration of
market power, in short, controlled by a handful of players. In
technical terms, what we now have is what’s known as an
uncontested market.”
2. Behavioral orientation of
consumers, doctors and public health institutions. “Our consumers
have yet to fully appreciate the value for money offered by generic
substitutes. Our doctors and public health institutions must not
negate the spirit of the (Generics) law by failing to live up to
their duty to inform their patients, particularly the poor, about
generic substitutes,” he said.
3. Protectionist provisions of
the existing law. “Certain provisions of the Intellectual Property
Code have been misused over time such that profit trumps public
interest. Because of the highly technical and abstruse nature of the
intellectual property system, the multinational pharmaceutical
companies have dominated the application of the intellectual
property law to the detriment of public welfare,” he said.
|
