The Department of Health has announced that it has capped the prices on more medicines to reduce their costs and make them more accessible to Filipinos.
"The Department of Health is delighted to bring the good news to the Filipino people that they will now enjoy lower drug prices for more diseases amid the rising economic turmoil brought about by recent global events. The maximum drug retail prices (MDRP) will bring relief to the Filipinos all over the country as they can now better afford the medicines," said Health Secretary Francisco Duque III in a statement.
The MDRP is the highest amount a retailer can charge to a consumer for a medicine placed under price regulations.
Prices of medicines were reduced at a median of 40% from current retail prices, with reductions up as much as 93%.
The total number of drugs with the MDRP is now up to 121 molecules or 204 drug formulations, including medicines addressing top diseases such as hypertension, diabetes, high cholesterol, asthma and chronic obstructive pulmonary disease, and colorectal, lung, and breast cancers.
In addition, medicine recommended by patient groups and medical societies have also been included to benefit particular populations.
The implementation of the price caps is in accordance to the Executive Order No. 155, which was earlier signed by President Rodrigo Duterte.
