Duterte vows to sign EO on medicine price caps

MANILA, Philippines — President Duterte has vowed to sign a proposed executive order (EO) that would lower the prices of more than 100 life-saving medicines, saying it would benefit the public.

The health department has been pushing for an EO that would cut the prices of 122 drugs by half, noting that Filipinos are spending more for medicines compared to their neighbors in the region.

Drugs that may be covered by the price regulation include those that treat cancer, diabetes, hypertension, cardiovascular disease, neonatal and chronic lung diseases.

“I will sign it. That’s good for the Filipino, reduced prices or maintaining a price, I will even sign the document twice over,” Duterte told broadcaster Ted Failon in an interview aired over radio dzMM yesterday.

Duterte said agencies are still studying the proposed order.

“Maybe they are reviewing it. If it’s on my table, I would read it at night. I have not come across any. I heard of it but hard facts are not yet there. But in principle, I will even sign it twice over,” he said. 

The pharmaceutical industry is opposed to the price regulation, saying it could lead to the closure of small and medium-sized drug stores. 

The proposed list of medicines to be covered by the price caps was recommended by the Drug Price Advisory Council.