Govt urged to promote local drug production
August 8, 2005 | 12:00am
Sen. Mar Roxas yesterday pressed for government action in promoting local drug production to help reduce the prices of medicines in the country.
Roxas cited a growing need for the government to examine ways to encourage local drug manufacturers to take advantage of the recent Department of Trade and Industry (DTI) report announcing the expiration of patents or exclusive ownership licensee of some 10,266 drugs.
In a statement, Roxas also saw it necessary to step up the production of off-patent drugs in a move to cut the cost of medicines.
Citing a study made by the Health Action International, the former trade secretary said medicines in the Philippines are expensive because imported raw materials are used in drug manufacturing.
"The prices of these products are heavily dependent on domestic inflation, tariffs, and other costs incurred in importation, which are then passed on to the consumers," Roxas explained.
Health Action International also noted that the prices of drugs in the Philippines are 740 percent higher compared to India.
Roxas said the government should place health concerns on its top priority list when it comes to public spending, citing further the latest Pulse Asia survey showing Filipinos consider the state of their health as an immediate concern.
Roxas also called on the Senate to investigate deeper into industry practices and find immediate solutions to the high cost of medicines.
As of July 2004, the Philippine pharmaceutical industry considered as one of the largest in Southeast Asia has an estimated $1.4 billion in value. In 1997, the Philippines spent approximately $1.042 billion on medical drugs compared to its neighboring countries like Thailand, which spent only an estimated $584 million for the same year. Christina Mendez
Roxas cited a growing need for the government to examine ways to encourage local drug manufacturers to take advantage of the recent Department of Trade and Industry (DTI) report announcing the expiration of patents or exclusive ownership licensee of some 10,266 drugs.
In a statement, Roxas also saw it necessary to step up the production of off-patent drugs in a move to cut the cost of medicines.
Citing a study made by the Health Action International, the former trade secretary said medicines in the Philippines are expensive because imported raw materials are used in drug manufacturing.
"The prices of these products are heavily dependent on domestic inflation, tariffs, and other costs incurred in importation, which are then passed on to the consumers," Roxas explained.
Health Action International also noted that the prices of drugs in the Philippines are 740 percent higher compared to India.
Roxas said the government should place health concerns on its top priority list when it comes to public spending, citing further the latest Pulse Asia survey showing Filipinos consider the state of their health as an immediate concern.
Roxas also called on the Senate to investigate deeper into industry practices and find immediate solutions to the high cost of medicines.
As of July 2004, the Philippine pharmaceutical industry considered as one of the largest in Southeast Asia has an estimated $1.4 billion in value. In 1997, the Philippines spent approximately $1.042 billion on medical drugs compared to its neighboring countries like Thailand, which spent only an estimated $584 million for the same year. Christina Mendez
BrandSpace Articles
<
>
- Latest
- Trending
Trending
Latest