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Tuesday, March 21, 2006
Drugstores selling medicines at exorbitant prices: health
* Secretary Duque warns erring drugstores of sanctions
HEALTH Secretary Francisco Duque III revealed Monday that many drugstores in the country, particularly in Metro Manila, sell medical products by more than 50 percent of the supposed retail price.
Thus, Duque warned such establishments of sanctions if they are found overpricing their medicines.
He said that while the government has imposed a 12-percent expanded value-added tax (e-VAT), the prices of medicines should not go up that much as drugs are not covered by the e-VAT Law.
Duque said he will instruct the Bureau of Food and Drugs (Bfad) to investigate reports that pharmaceutical firms charging high for generic and branded medicines sold in the drugstores.
But Duque admitted that the Department of Health (DOH) has no authority to cancel or revoke the license of pharmaceutical companies drugstores found overpricing their medicines.
"Our powers our limited and we don't have power to charge the companies found overpricing but we can endorse them to the Department of Trade and Industry (DTI) who has the direct jurisdiction for proper action," Duque said.
He explained that the DOH is concerned primarily with health matters and the department does not have the authority to cancel or revoke the accreditation and permits issued to pharmaceutical companies proven to be overpricing. (MSN/Sunnex)
(March 21, 2006 issue)
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