The Manila Times
(UPDATE) THE Department of Health (DOH) said Friday that prices of medicines will not increase until June. Health Secretary Ted Herbosa said the government is closely monitoring the potential rise in medicine prices in the second half of the year resulting from higher logistics costs due to the ongoing conflict in the Middle East. “So, in medicine, we talked to the pharma industry. They promised that they won’t increase (prices)... but they said it’s only until June,” Herbosa said at the Kapihan sa Manila Hotel forum. He said most companies are operating on roughly a three-month inventory and that price increases may occur once new orders are placed, as suppliers could pass on higher transportation costs driven by rising fuel costs. “Logistics — whether by airplane or ship — will cost more due to higher fuel prices. Some (companies) can absorb it, but not all,” he noted. Herbosa said the government is strengthening its drug price monitoring efforts. He highlighted the drug price monitoring index, mandated under the Cheaper Medicines Act, which tracks retail and wholesale prices in coordination with the Department of Trade and Industry, local government units, and the Department of the Interior and Local Government. The public can access updated medicine prices through the government’s eGov platform, which features a “drug price watch” tool showing the lowest available prices in nearby pharmacies. Previously conducted on a quarterly basis, Herbosa said the monitoring system is being intensified, with 10 essential medicines now tracked weekly. These include drugs for hypertension, diabetes, cholesterol, and common infections. “We monitor weekly so we can ensure that no one is taking advantage,” he said. Despite concerns over rising costs, Herbosa said the pharmaceutical industry has so far expressed willingness to help stabilize prices. "The pharma industry themselves want to help. They're still absorbing. They're not affected yet,” he said.
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