MANILA - President Rodrigo Duterte on Monday signed an executive order imposing a limit on the prices of several medicines and drugs.
Executive Order No. 104, or the "Improving Access to Healthcare Through the Regulation of Prices in the Retail of Drugs and Medicines," set maximum retail and wholesale prices for 86 drug molecules or 133 drug formulas.
The list includes such medicines, based on classification, as:
- Antidiabetic drugs
- Antiasthmatic & Chronic Obstructive Pulmonary Disease (COPD) Preparation
- Agents affecting bone metabolism
- Psoriasis, Seborrhea & Ichthyosis Preparation
- Iron Chelating Agent
- Growth Hormone Inhibitor
- Hematopoietic Agent
- Parenteral Nutritional Product
- Phosphate Binder, and
A technical working group composed of representatives from the Department of Health and the Department of Trade and Industry will convene in 30 days to review the prices of another set of 36 drug molecules or 72 drug formulas.
The list of medicines and drugs specified in the order will be reviewed every 6 months.
According to the EO, the DOH has earlier proposed to regulate the retail prices of 122 drug molecules or 205 drug formulas.
In a statement, Presidential Spokesperson Salvador Panelo said that with Duterte's signing of EO 104, Filipinos can now live decently and comfortably.
"This measure is part of the real and lasting reform which President Rodrigo Roa Duterte has instituted in order that all Filipinos can live decent and comfortable lives that they deserve," Panelo said.