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Article: Foreign chambers clamor for repeal of medicine price cap
- Article from:
- The Manila Times
- Article date:
- July 4, 2009
- Author:
CopyrightCopyright Content Parnership Pty Ltd Jul 4, 2009. Provided by ProQuest LLC. (Hide copyright information)
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FOREIGN businessmen have called on the Philippine government to reconsider the imposition of a
maximum retail price (MRP) on medicines under Republic Act 9502, or the Act
Providing for Cheaper and Quality Medicines.
In a letter to President Gloria Arroyo dated June 23, 2009, the Joint Foreign Chambers of the Philippines said the government need not impose an MRP for medicines to lower the prices of these goods in the country.
"We believe that imposing an MRP may no longer be needed to achieve the goal of lowering prices of medicines in the Philippines. Market forces have already achieved a significant reduction in medicine prices," the group said.
"There is also a growing ...