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 proliferation of cheaper generic alternatives in the market, and selected companies have voluntarily reduced prices, either through patient care programs or outright price reductions. Thus, even prior to the enactment of R.A. 9502, market competition is healthy and moving towards lower-priced generics,” the group said.
“More importantly, the use of price controls in any industry can become counterproductive, discourage existing and future investors in all industries, and potentially lead to price controls over other industries and products which will no doubt send the wrong signals to potential investors outside the Philippines,” it added.
The Joint Foreign Chambers said revenues of local pharmaceutical firms recently posted double-digit growth, while those of multinational companies were growing at single digit rates.
The letter was signed by Austen Chamberlain, American Chamber of Commerce of the Philippines Inc. president; Richard Barclay, Australian-New Zealand Chamber of Commerce of the Philippines Inc. president; Richard Mills, Canadian Chamber of Commerce of the Philippines Inc. president; Hubert D’Aboville, European Chamber of Commerce of the Philippines Inc. president; Yasuhiko Arimitsu, Japanese Chamber of Commerce and Industry of the Philippines Inc. president; Eun Gap Chang, Korean Chamber of Commerce of the Philippines Inc. president; and Shameem Qurashi, Philippine Association of Multinational Companies Regional Headquarters Inc. president. –Ben Arnold O. de Vera, Reporter, Manila Times
July 2025
Nutrition Month
“Give us much more than P50 increase
for proper nutrition!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.
Accept National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideosturesVideos
July
3 July – International Day of Cooperatives
3 July – International Plastic Bag Free Day
5 July – World Youth Skills Day
7 July – Global Forgiveness Day
11 July – World Population Day
17 July – World Day for International Justice
28 July – World Nature Conservation Day
30 July – World Day against Trafficking in Persons
Monthly Observances:
Schools Safety Month
Nutrition Month
National Disaster Consciousness Month
Weekly Observances:
Week 2: Cultural Communities Week
Micro, Small, and Medium Enterprise
Development Week
Week 3: National Science and
Technology Week
National Disability Prevention and
Rehabilitation Week
July 1-7:
National Culture Consciousness Week
July 13-19:
Philippines Business Week
Week ending last Saturday of July:
Arbor Week
Daily Observances:
First Saturday of July:
International Cooperative Day
in the Philippines
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