DOH Says Price Cap for Medicines & Drugs to Take Effect on March 22

Price Cap for Medicines and Drugs to Take Effect on March 22 Next Year, According to DOH

The Department of Health reported that the price cap for more medicines and drugs will start on March 22, 2022.

On Saturday (December 11, 2021), the Health Undersecretary Maria Rosario Vergeire said that starting March next year, the price capping for more drugs and medicines will be implemented in the country.

Vergeire is citing the recent executive order signed by President Rodrigo Duterte. The EO sets the maximum retail price for 34 drug molecules and around 71 drug formulas. The measure aims to make medicines affordable for the Filipino people.

Price Cap

“This will provide benefit to our population especially na kailangan nating mas maging [when we need to make] affordable ang ating mga gamot lalong-lalo na [our medicines] in this time of the pandemic,” Vergeire said.

Vergeire said that the new measure has been given 90 days before it takes effect so drug establishments including pharmacies can consume their existing inventories. The bill also aims to cut the other health –related expenses of the Filipinos.

“So, ito po ay binigyan ng 90 days para po magkaroon ng effectivity. So, ang kanyang full effect will be on March 22, 2022,” the Health Department executive added.

Price Cap

Under the Executive Order No. 155, violators will face corresponding penalties and administrative sanctions for violating the bill. The Cheaper Medicines Act. Penalties mandate violator to pay a fine worth P50, 000 to P5 million for every violation.

What can you say about this new measure? Just feel free to leave your comments and reactions to this article.

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Read Also: President Duterte Approves EO Regulating Prices of More Medicines & Drugs

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