Philippines Cheaper Medicines Act Sent To President
This article was originally published in PharmAsia News
The Philippines House of Representatives passed unanimously and sent to the president for signing the Cheaper Medicines Act to control pharmaceutical prices. The bill seeks to do so by amending two laws governing intellectual property and pharmacy and establishing price regulation. The bill, expected to become law in the fall, was promoted in part by a survey showing that only Japan had higher prices in Asia than the Philippines. The measure is designed to deal with patent, parallel import and compulsory licensing issues. (Click here for more
You may also be interested in...
Public Company Edition: Four health care special purpose acquisition vehicles went public and two others announced mergers, but only one biopharma firm priced an IPO during the week of 19-23 October. Replimune’s $250m offering led recent FOPOs.
Wholesalers are given three more years to set up electronic systems to verify saleable returns under another reprieve from the FDA. Yet the reprieve does not extend to manufacturers, who must respond within 24 hours to wholesalers’ requests to manually verify that a returned product is not suspect.
Agency explains how it will model vaccine authorization process on its licensing process for matters like inspections and lot release.