Philippines Drug Market More Than Doubles In 10 Years

The Philippines' pharmaceuticals market probably has more than doubled in the past 10 years, from one worth about $976 million in 1999 to about $2.1 billion today. One of the reasons is the country remains one of the world's largest per capita buyers of medicines, equaling half of its health spending. Fewer than one-third of sales in the Philippines are generated by local drug makers, leading to drug prices two to 30 times higher for branded drugs than in surrounding Asian countries or in Canada. Generics account for 4 percent of total sales. (Click here for more