The Philippine Competition Commission , in compliance with President Ferdinand “Bongbong” R. Marcos Jr.’s directive, has vowed to ensure fair competition in the pharmaceutical market.
It is worth noting that the Philippines is known to have one of the highest costs of medicines in Asia. The competition watchdog stressed that the production of unbranded generic medicines lags behind, even relative to other developing countries. Moreover, Bernabe said, “the Commission has been consistently monitoring and looking into curtailing possible anti-competitive situations, including cartels, that may exist in the different segments of the supply chain of pharmaceutical products.”
With this, he said that as the country continues to face the challenges of the pandemic and rebuild, the PCC commits to the removal of anticompetitive practices that derail the recovery process.
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