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The Pharmaceutical Market: Philippines
Espicom Business Intelligence Ltd, Feb 2008, Pages: 80
The Philippines is a relatively poor country where only a small majority of the population has access to adequate healthcare provision and even fewer can afford the high drug prices. The government has been actively promoting the use of generics in recent years, as branded pharmaceuticals are expensive in a country with very low GDP per capita. There is a large potential market for generics, but sales have been low. The government has been criticised in the past for not doing enough to promote generics and has recently stepped up its efforts, launching Project 100 in 2008 for example, which promises to offer cheap generics at 100 public hospitals around the country.
Changes to be brought by the controversial Cheaper Medicine Bill will impact the Philippines pharmaceutical market in a number of areas, including IP laws, competition and drug price control mechanisms. The market is expected to be especially volatile in the 2008-2010 period.
Domestic manufacturing is limited and imports make up a large proportion of the market. The parallel importation of drugs and the wrangling of intellectual property right issues between the multinational pharmaceutical industry and the government have been contentious issues in recent times. Administration of the health sector is highly devolved to local government units. This can make planning and co-ordination difficult. Between 50% and 60% of healthcare expenditure and provision is in the private sector.
Much of the market is based in and around Manila in southern Luzon. It is here where disposable incomes are highest, and where the majority of the country's high class medical facilities and staff are located. An exodus of medical staff overseas in pursuit of better wages and working conditions has put severe pressure on healthcare services. The Philippines has around 1.2 doctors per thousand population.
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The Pharmaceutical Market- Philippines - Table of Contents
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