Manila to Lower Medicine Prices With Imports From China

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Tuesday, June 06, 2000, updated at 14:15(GMT+8)

Business

Manila to Lower Medicine Prices With Imports From China

The Philippine government said Monday that it expects medicine prices in the country to go even lower with the expected import of pharmaceutical products from China.

Trade Secretary Manuel Roxas said in a radio speech that the import of medicines should provide competition to the foreign pharmaceutical firms operating.

Roxas said this is in line with President Joseph Estrada's order to the concerned government agencies to pursue measures designed to bring down prices of medicines.

He also pointed out that the plan to import medicines from China came following the president's state visit to China in May.

Earlier, Estrada had noted that prices of medicines in the Philippines are 10 times those in other Asian countries.

The Department of Health had also noted that at least seven pharmaceutical firms were committed to lowering prices of some of their products.

Health Secretary Alberto Romualdez said that at least one firm has been carrying out programs to make less expensive versions of its products.


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	The Philippine government expects medicine prices in the country to go even lower with the expected import of pharmaceutical products from China.




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