Drug Access Act Bringing Down Prices In The Philippines
This article was originally published in PharmAsia News
The Philippines' Universally Accessible Cheaper and Quality Medicine Act of 2008 will bring down local drug prices in the country by promoting a level playing field and free competition, the Philippine Chamber of the Pharmaceutical Industry said at a generics summit in Pasay City
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The Quality Affordable Medicines Act was among the eight bills passed by the Philippines Senate on Nov. 5. Proposed by Sen. Mar Roxas, the bill will make patent laws more liberal in an effort to reduce prescription drug prices. Additionally, the bill will bolster the Generics Drug Act and widen parallel imports of common medicines by the government. The bill is now being considered by the House. "The more time the House and the Senate have to discuss and reconcile the versions of the bill, the more responsive the bill could be [to] our countrymen's health needs, Roxas notes." (Click here for more
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