PITC chairman urges swift OK of bill that will lower drug prices
 

Manila Bulletin – February 6, 2007

Secretary Roberto M. Pagdanganan, chairman and president of government­ owned Philippine International Trading Corp. (PITC), has urged Congress to im­mediately pass House Bill (HB) 6035, the proposed measure that will help bring down the cost of medicines in the country.

Pagdanganan said that the passage of Senate Bill (SB) 2263, which seeks to amend specific provisions of the Intellectual Prop­erty Code to make medicines more afford­able, will mean nothing if its counterpart bill in the House of Representative will not be passed before the 13th Congress adjourns this month for the May elections.

HB 6035, according to Pagdanganan, will promote market competition in the pharma­ceutical industry and the PITC can better serve the public by opening up more Botika ng Bayan and providing more products for the public to choose from.

"We should not deny our people especially the poor access to affordable and quality medicines," Pagdanganan said, adding, "If it can be done in Argentina, Thailand, America, and Europe, why can't it be done here?"                     

The PITC was tasked by President Ar­royo to reduce the prices of commonly bought medicines by one half in year 2010. The cost of these medicines today is five to six times higher than those sold in other countries.

Under the program, the Botika ng Bayan will serve as the outlets of the pharrmaceuti­cal products sourced locally and abroad by the PITC. This program is a pro-poor prior­ity project in the President's Medium-Term Development Plan which aims to make essential medicines commonly bought in the country 'today available, accessible, and affordable to the people.

The parallel importation being under­taken by PITC is the government's strate­gic response to a regime of high prices of medicines in the country.

The PITC launched-in December 2004 the Botika ng Bayan project to set up a nationwide network of privately owned and operated accredited pharmacies that sell low-priced drugs in competition with com­mercially priced medicines in the market.

 
summary of archives
 
 
PHILIPPINE INTERNATIONAL TRADING CORPORATION
National Development Company Bldg.,
116 Tordesillas Street, Salcedo Village, 1227 Makati City
Trunk Line (632) 818 98 01 Fax Nos.: (632) 892 20 54 892 07 82
E-mail Address: pitc@pitc.gov.ph
 
Vision Statement
PITC is a dynamic and self-sustaining government corporation engaged in trading and marketing activities aimed at uplifting the quality of life of the Filipino people and promoting equitable
national progress
 
Mission Statement
As the lead government trading and marketing institution, PITC shall:
1
Make quality essential medicines available, accessible and affordable to the greater masses of our people;
2
Promote countertrade and exports thus creating job opportunities and improving the country's balance of payment;
3
Be the most efficient and cost-effective procurement institution for government entities;
4
Help stabilize prices and ensure supply of basic goods and services; and
5
Develop core competency and progressive career path for its employees.