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Sunday, July 26, 2009

Government should be as decisive in dealing with other sectors

Pharma giants blink, slash prices in half

BY PAUL M. ICAMINA Special Report Editor

THE P100-billion pharmaceutical market has been breached, and drug giants blinked.

For the first time, a well-entrenched industry has given up its formidable clout in getting a say on how much medicines should cost.

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A huge pharmaceuticals market

THE pharmaceutical market is large—and growing. Worth P47 billion in 1999, it grew to P70 billion by 2003 and is probably worth P100 billion now.

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Medicines still costly year after cheaper drugs law put in place

IT’S business as usual. More than one year has elapsed and yet many medicines are still being sold at their usual price.

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When medical expenses lead to financial catastrophe

ACCESS to medicines is essential for health systems to function.
Access means having medicines continuously available and affordable that are within one hour’s walk from homes.

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Why maximum drug retail price must be imposed

GOVERNMENT intervention is needed to address market failures and inequities in the Philippine pharmaceuticals industry.

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