PITC eyes export of pharma products

The government is planning to embark on an aggressive promotion of  local pharmaceutical products in the international market in a bid to help boost the export capability and competitiveness of Philippine drug manufacturers in the global arena.

This was disclosed by Philippine International Trading Corp. (PITC) president and chief executive officer Anthony Abad who said the government is also planning to further expand the participation of the  local pharmaceutical sector in the program for affordable medicines.

The planned promotional support may benefit some 250 local drug manufacturers. The move may also encourage the expansion of pharmaceutical products derived from local plant materials and other locally-sourced raw materials. Abad said the export prospects could have significant downstream benefits, such as job-creation and the further reduction of the cost of medicines in the country.

In a radio interview, Abad also said PITC is now actively negotiating with local pharmaceutical companies and other international suppliers in a bid to source medicines at prices that can be passed on to end-users at costs significantly lower than local market levels. The move is in line with plans of the Department of Trade and Industry to shift from parallel importation of cheap medicines from India to sourcing said requirements from local manufacturers.

Abad said the expanded role of local drug manufacturers in the "Presyong Tama" program "is a recognition of the quality of their products and of their capability to produce them at reasonable costs". He pointed out that these capabilities "show that the local pharmaceutical  sector can compete in the international market if given the right promotional support". 

PITC has been implementing the "Presyong Tama" program since 2000. The move was initiated by then trade secretary, now senator-elect, Mar Roxas who resorted to the parallel importation of essential medicines from India in a bid to provide downward pressure to local prices of medicine.

The Arroyo administration adopted the program  and expanded its coverage and distribution, providing more Filipino consumers access to high quality, branded medicines for a wide range of common ailments.

Abad said millions of  Filipinos are estimated to have benefited from the Arroyo program, most of whom are based in the countryside. The cheaper priced medicines under the program are mostly channeled through government hospitals and local government units.

Medicines under the program can be purchased at prices as low as 80 percent less than the selling price of retail drugstores.