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Pharma industry pushes back on drug price control board


March 10, 2021 | 7:28 pm
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DRUGMAKERS said further price controls on their products will hinder the industry in recovering from the economic downturn triggered by the pandemic.
Responding Wednesday to a legislative proposal to establish a price board for drugs, Pharmaceutical and Healthcare Association of the Philippines (PHAP) Trustee Jannette Alcantara Jakosalem said price controls will be an added burden to the industry on top of the difficult economic environment.
“Like many industries, the pharmaceutical industry has not recovered from the pandemic. The contraction of the market reached up to minus 18% in 2020. This is evidence of our struggles. On top of our struggles, the government imposed mandatory price reductions of up to 50% for 133 pharmaceutical products,” she said at a hearing of the House Committee on Trade and Industry. ....

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