PHAP for cheaper drugs, wants safeguards vs fakes

We write with regard to the news article titled, “Drug firms’ lobby fund to reach P1B, say solons.” (Inquirer, 7/30/07) The Pharmaceutical and Healthcare Association of the Philippines (PHAP), whose members include both local and multinational health care companies, is deeply concerned about the allegation that pharmaceutical companies have budgeted an estimated P1-billion lobby fund to stop the passage of the bill that seeks to lower the prices of drugs.

PHAP categorically denies the existence of the alleged P1-billion lobby fund. The allegation is untrue and without factual basis. All our member-companies are bound by a stringent code of ethics that requires that all our activities must comply with all applicable laws and regulations.

9 August 2007

Read the full story at inquirer.net.

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