PHAP Guarantees No Drug Price Hikes Until June Amid Rising Costs
The Pharmaceutical and Healthcare Association of the Philippines (PHAP) has assured the public that there will be no price adjustments for drugs and medicines in the country until the end of June. This commitment comes amid surging prices of basic commodities and services, driven by recent economic pressures.
DOH Spokesman Confirms Commitment
In a radio interview, Department of Health (DOH) Spokesman Albert Domingo revealed that PHAP has pledged to maintain stable prices over the next three months. "We met PHAP and they, themselves, committed that they won't raise prices until the end of June," said Domingo. He emphasized that this assurance is a proactive measure to alleviate concerns over healthcare affordability during a period of widespread inflation.
Ongoing Monitoring and Market Uncertainties
Despite the commitment, Domingo stated that the DOH will continue to closely monitor drug prices in the market to ensure compliance. "Even though they have a commitment, we will still have our monitoring to make sure there will be no increases in the prices of the medicines," he explained. However, beyond June, uncertainties loom. Domingo admitted that it is unclear whether prices will rise, citing changing market dynamics. "We can't say for sure if all or just a few will increase prices because the market dynamics will change," he noted.
He highlighted that while medicine supply is not an issue, transportation costs pose a potential challenge. "For sure, the supply of medicine won't be a problem because there are medicines available. But the problem is that the medicines are transported on ships and planes that use fuel," Domingo added. This concern is particularly relevant given recent surges in fuel prices, attributed to the ongoing crisis in the Middle East, which has also impacted other basic commodities and services nationwide.
The DOH's vigilance aims to protect consumers from unexpected price hikes, ensuring access to essential medications remains stable during these turbulent economic times.
