Philippines Seeks Price Reductions on More Medicines

Tuesday, January 19, 2010


Jan. 18 (Bloomberg) -- The Philippines is seeking price cuts on more medicines, asking drugmakers including Pfizer Inc. and GlaxoSmithKline Plc to halve prices of some top-selling products for the second time in five months.  Medicines in the Philippines can be two to three times higher than in neighboring Asian nations, the government has said.

The reductions may affect more than 21 drugs and could be introduced by the end of March, Alex Padilla, undersecretary at the nation’s health department, said in an interview in Manila today. Five “major” drug companies have submitted lists of medicines and the health department expects others to submit lists this week, Padilla said. The deadline for submission was extended to Jan. 22 from Jan. 14, he said.  Continue reading here http://www.businessweek.com/news/2010-01-18/philippines-seeks-second-round-of-50-percent-drug-price-cuts.html

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