The Philippines’ government has accepted the price cuts offered by drugmakers for 14 of the country’s 21 most commonly-prescribed medicines, and will reduce the prices of the other seven by Executive Order (EO).
President Gloria Macapagal-Arroyo will sign the EO tomorrow (July 22) and the prices of all 21 drugs will be halved by August 15, say government officials.
Thirteen companies submitted voluntary price reductions, but only just over half of them fully complied with the government’s demand for price cuts of 50% or more.
For seven of the products, they offered reductions averaging 30%-35%, which the government has dismissed, and these medicines will now be subject to Maximum Retail Prices (MRP).
More
1 comment:
The people are Filipinos.
The country is the Philippines.
I know we can be confusing. ^_^
Post a Comment