MANILA - A group of drug makers on Sunday urged government to recall its price cap policy on several medicines as it claimed it could result in P28 billion revenue loss.
In February, President Rodrigo Duterte signed Executive Order No. 104, imposing a limit on the prices of 86 drug molecules or 133 drug formulas.
PHAP said government will also lose P17 billion in corporate taxes, P7 billion in value added taxes , and P4 billion in foregone customs duties. "Government should continue the practice of buying in bulk and price negotiation to assure both supply and price stability." "This will propel us toward Universal Health Care which will broaden our agenda to make comfortable lives for all Filipinos,” Health Secretary Francisco Duque III said in February.
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