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
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
September –
5 Sept – Intl Day of Charity
7 Sept – Intl Day of Clean Air for Blue Skies
8 Sept – International Literacy Day
12 Sept – United Nations Day for South-South Cooperation
15 Sept – International Day of Democracy
16 Sept – International Day for the Preservation of the Ozone Layer
17 Sept – World Patient Safety Day
18 Sept – International Equal Pay Day
21 Sept – International Day of Peace
26 Sept – International Day for the Total Elimination of Nuclear Weapons
27 Sept – World Tourism Day
28 Sept – International Day for Universal Access to Information
29 Sept – International Day of Awareness of Food Loss and Waste
30 Sept – World Maritime Day
Monthly Observances:
Health, Safety and Sanitation Month
National Clean-up Month
Civil Service Month
National Peace Consciousness Month
Social Security Month
Rule of Law Month
National Teachers’ Month (Sept 5-Oct 4)
Weekly Observances:
Sept 17 – 23:
World Clean and Green Week
Week 2: Education Week
Week 4: Medicine Week
Last Week: National Family Week
Daily Observances:
Third Saturday:
International Coastal Clean-up Day
Third Monday: World Health Day
Last Friday: National Maritime Day
Sept 8: National Literacy Day
Sept 15: Philippine Medicine Day
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
