Drug makers group offers price cuts

ABS-CBN News

Posted at Oct 24 2019 01:35 PM

MANILA -- Eighteen multinational drug makers under the Pharmaceutical and Healthcare Association of the Philippines offered to cut prices following a meeting with Health Secretary Francisco Duque, the group said Thursday.

The suggested price reductions will be for drugs that cure "major non-communicable diseases, infectious diseases and rare disorders," PHAP said without elaborating.

The PHAP said it also proposed a "holistic and comprehensive" assistance program, initially for cancer, that "may contain" free cancer medicine or discounts for laboratory tests and monitoring.

A breast cancer patient can avail of up to 54 percent off on a cancer drug or free medicine for certain treatment cycles, PHAP said.

Filipinos pay 54 percent of their own healthcare costs, compared to 12 percent in Thailand, 38 percent in Malaysia and 37 percent in Indonesia, it said.