Up to 58% cut in prices of medicines expected this May through EO 104

CEBU CITY, Philippines – The public can expect cheaper prices of some branded drugs and medicines in May this year with the signing last February 17, 2020, of President Rodrigo Duterte’s Executive Order (E.O.) No. 104 which aims to improve access to healthcare through the regulation of prices in the retail of drugs and medicines.

The E.O. will regulate around 87 generics of drugs or 122 drug molecules and 205 drug formulations, said Lourdes Maratas, pharmacist III of the Department of Health (DOH)-7.

Maratas said that the E.O. covers medicines for antihypertensives; antidiabetic drugs; anti-neoplastic/anti-cancer; antiasthmatic and chronic obstructive pulmonary disease (COPD) drugs; anticoagulant; anti-angina; agents affecting bone metabolism; antiemetic, psoriasis, seborrhea and ichthyosis preparations; antidepressant; iron-chelating agent; growth hormone inhibitors; antiviral; fibrinolytic; hematopoietic agents; mucolytic; parenteral nutritional products; phosphate binders; and surfactants.

Maratas said that the cut in the price of these medicines will reach up to 58 percent.

The E.O. is expected to take effect on May 18 or 90 days after its approval. The order was based on Republic Act no. 9502 or the “Universally Accessible Cheaper and Quality Medicines Act of 2008.

Maratas bared that they are now coordinating with the Food and Drugs Administration (FDA) and the Department of Trade and Industry (DTI) for the full implementation of E.O. 104.

She said that the order will help a lot, especially for senior citizens who can also avail of a 20 percent discount from the regulated prices of these medicines.

Maratas said that the price adjustment covered by the E.O. is on top of the discount accorded to senior citizens and the Persons With Disabilities.

Upon its effectivity, Maratas said that pharmacies who will violate the E.O. will face monetary penalties and closure. /rcg