Philippines makes more medicine price cuts for pharma
This article was originally published in Scrip
The Philippines government has announced a second wave of price cuts in the medicines sector under the government-mediated access price (GMAP) programme. Most reductions will come into effect on March 31st, while others will be implemented at a later date when supply issues have been addressed.
The price reductions, affecting 97 medicines, are expected to generate around PHP 1 billion (about $22 million) in savings for the public. The price cuts relate to anti-cholesterol, anti-hypertensive, anti-depressant, anti-psychotic, anti-cancer, anti-asthma, anti-coagulant and anti-glaucoma drugs, as well as other medicines.
The new price cuts are on top of the reductions implemented last year, wherein the prices of several essential medicines were lowered by 50% – either voluntarily by the pharmaceutical industry (under GMAP) or through mandatory processes, like the maximum drug retail price (MDRP) system.
Compliance with the latest round of price reductions, however, is voluntary. In a statement issued on February 26th, the Department of Health said 11 companies had offered their medicines for price reduction, while others were being encouraged to follow suit.
Health secretary Esperanza I Cabral said the reduced prices of 103 pharmaceutical formulations, which were included in the first wave of the GMAP programme, would continue to apply, bringing the total number of medical products under the programme to 200.The Philippines Food and Drug Administration (formerly the Bureau of Food And Drugs), Ms Cabral said, would monitor compliance with the GMAP programme and penalise retail outlets not implementing the price reductions.
The Pharmaceutical and Healthcare Association of the Philippines, which represents the county’s leading research-based pharma companies, said while it was committed to providing greater access to medicines, it "still believes that the best way to drive down the price is through competition".
The association points out that prior to the implementation of the MDRP and the GMAP programmes, its member companies implemented price reductions in response to competitive challenges.
The association is calling for an impact assessment on the first round of price reductions to ascertain whether the government policy has achieved its intended objective of improving access to healthcare. The PHAP also called for wider healthcare reforms that would include, among other things, an improved health insurance system.
Process flow for handling adverse events
Separately, the Philippines FDA issued a circular in February asking all drug and medical device companies to submit details of their official protocols for handling adverse events reported to them.
The information, the agency said, was being requested in light of its plans to strengthen its vigilance programme. The companies had until March 2nd to provide this information, which could also be submitted in the form of flowcharts.