News Release

PBBM: Prices of basic medicines decreased by 40%

Committed to working towards a more direct and efficient delivery of medical services, President Ferdinand R. Marcos Jr. reported on Monday that the price of basic medicine in the Philippines has already decreased by 40 percent.

“Ang presyo ng mga mahahalaga at pangunahing gamot ay bumaba nang humigit-kumulang na apat-napung porsyento. Mayroon ding iba na bumaba hanggang siyam-napung porsyento,” President Marcos said in his second State of the Nation Address (SONA).

The President said the efforts to reduce the price of basic medicine were made possible through the integrated primary care providers and networks, in partnership with the local government units and private stakeholders.

The President added that efforts were also supported by what is now “a better and more efficient” Philippine Health Insurance Corporation (PhilHealth).

“Aside from the maximum retail price regulation being implemented, strategic VAT exemption also lowered the prices of 59 essential medications, such as those for cancer, diabetes, hypertension, kidney disease, and mental illness,” he added.

The chief executive added the Philippine government is now closer to its dream of providing quality healthcare as he emphasized that 93 percent of the Filipino people are now members of PhilHealth.

Under the “Konsulta Package of PhilHealth,” President Marcos said 21 types of medicines and 13 laboratory services are now given for free as he emphasized that there are already 2,000 ‘Konsulta’ centers around the country, which is 35 percent higher than last year’s data. [PND]