DoH tracks essential drugs to prevent overpricing

The Department of Health (DoH) is monitoring the prices of 10 essential medicines in high demand as the global oil crisis continues to drive up the cost of commodities.

Health Secretary Ted Herbosa said the agency is taking cautionary steps to cushion the public from potential price spikes. Herbosa said he has met with representatives of the pharmaceutical industry, who promised to maintain current prices for the time being.

“We spoke with the pharma industry and they promised not to raise prices because medicines do not pass through the Strait of Hormuz,” Herbosa said. “But the promise will only last until June.”

Herbosa explained that while current inventories are sufficient for about three months, future shipments will likely face higher costs. He cited that the transportation of medical supplies via sea and air is heavily dependent on fuel prices, which have surged recently.

The DoH will use its drug price monitoring index to track costs for antibiotics and treatments for hypertension, diabetes and high cholesterol. Under the Cheaper Medicines Act, the DoH, the Department of Trade and Industry, and the Department of the Interior and Local Government are mandated to monitor wholesale and retail prices.

“We are monitoring that, and suppliers, pharmacies and patients submit data which we then publish,” Herbosa said.

The secretary encouraged the public to use the e-gov platform, which lists the lowest available prices for specific medications and directs users to the nearest drugstore.

Herbosa cited that the President has the authority to impose price caps on essential drugs, similar to the DTI’s control over basic commodities, should the DoH recommend such action.

However, he stressed that pharmaceutical companies have expressed confidence they can absorb current costs without immediate increases to their product lines.