Expert: COVID-19 drug price 4x higher on black market

MANILA, Philippines — As daily cases of COVID-19 surge, a drug repurposed to treat the viral infection is reportedly being sold on the black market for four times its retail price, according to an infectious disease expert from San Lazaro Hospital (SLH).

Dr. Rontgene Solante, head of SLH’s Adult Infectious Disease and Tropical Medicine, said hospitals are running out of tocilizumab due to the high number of patients.

“The patients are telling us they could buy it from the black market. But it’s really (expensive), the price is four times higher than the original price,” he said in an interview.

The Department of Health (DOH), in a July 6 circular, set the maximum retail price for tocilizumab at P8,303.57 for an 80 milligram/four milliliter vial and P25,726.81 for a 400 mg/20 ml vial.

Solante said the government should strictly monitor the sale of the drug, originally used as an immunomodulator for rheumatoid arthritis.

Meanwhile, Senate President Pro Tempore Ralph Recto yesterday called on Malacañang to convene a task force, including diplomats and taipans, to solve the shortage of tocilizumab and other drugs made scarce by the surge in COVID patients.

“Tap those who can help, from diplomats to businessmen with excellent global connections,” he said.

As to funding, Recto said “there are billions in reserve in the P151.64-billion Unprogrammed Fund, whose release can be triggered by the ongoing government borrowings.” – Paolo Romero