MANILA, Philippines - The health business is unique among all other types of commerce. More than being driven by the lure of soaring profits, an ethical health-related enterprise aims to alleviate suffering and improve quality of life. In these cash-strapped times when every peso counts, the maxim “good health is wealth” holds even truer. Moreover, the news that reputable pharmaceutical companies have reduced the costs of their quality medicines is a happy development.
GlaxoSmithKline (GSK) Philippines president and managing director Roberto Taboada recently announced that the prices of the company’s major medicines have been reduced by 30 to 50 percent. “GSK recognizes the need to improve patient access to the best quality medicines, and have worked to help address this,” explains Taboada. “The price reduction is one of GSK’s biggest and boldest steps to make our trusted, quality medicines affordable to more Filipinos.”
Since March 1, GSK has cut the prices of medications for acute diseases like pneumonia and other bacterial infections, ulcer, bronchitis, hospital-acquired infections, nausea, vomiting, and others. Likewise, medications for chronic illnesses can be obtained at lower costs through GSK programs. By enrolling in the program through their physicians, patients with chronic illnesses such as hypertension, type 2 diabetes, asthma, chronic obstructive pulmonary disease (COPD), bipolar disorder and chronic hepatitis B infection will spend less for their maintenance drugs.
“This is our biggest commitment to Filipino patients yet,” said Taboada. “Our previous experience with ValueHealth makes us confident that we will be able to sustain our efforts to make our medicines affordable to more, with the continued support of patients and doctors.”
ValueHealth was started in 2004 as a GSK program to significantly reduce the prices of the company’s original and most widely prescribed treatments. In line with the initiative, a 60-percent reduction in the cost of the company’s cervical cancer vaccine was implemented in November last year.
Daisy Cembrano, GSK vice president for government and public affairs, shares that they continue to aspire further. “Despite many milestones, we never stopped to look for ways to help even more.” She says that apart from its promise of greater access to quality medicines by lowering costs, the GSK Foundation invests in health and education programs and partnerships that aim to bring sustainable improvements to underserved communities. Among these programs are: the Pinoy Health Pass in partnership with PhilHealth, where beneficiaries are educated about the importance of health insurance, and where GSK provided subsidies to pay for the annual premiums of indigent Filipinos; and the Lymphatic Filariasis (LF) Elimination Program, in partnership with the Department of Health and other private donors. To do its share in eradicating LF or elephantiasis, GSK has donated 99 million tablets, or P990 million worth of the drug albendazole as of last year.
“We cannot stop as long as cost stands in the way of good health. Society expects our industry to do something more to address important health challenges in the country,” continues Cembrano. Apart from big reductions on most major brands, GSK is keen to revive talks with PhilHealth on the matter of increasing health insurance enrolment among indigent Filipinos this year.
Dr. Rey Melchor Santos, president of the Philippine Medical Association, agrees that the steps taken by GSK to make healthcare more accessible are laudable. “Patient compliance is important to the doctor,” he shares. “When we make a prescription, we always wonder, Can the patient comply with the prescription? Will he be able to complete the course of medication? Or if it is a maintenance medication: Can he take it for life? With the price reduction of what we feel are quality drugs, doctors are more assured that there is a greater chance of compliance, cure and control of chronic ailments. We hope that all reputable companies in the Philippines — whether local or international — will do the same to contribute in bringing down the cost of medicine.”
GSK’s price reduction is not a limited promotion. Rather, it is a long-term commitment to Filipino patients.
Will lower prices result in smaller profit margins and eventually lead to eventual downsizing of operations in the Philippines? Roberto Taboada belies the concern. “GSK Philippines is expanding its presence this year,” he says. “We are adding 100 new medical representatives. We are increasing our clinical research programs because the Philippines is one of the centers of excellence in terms of clinical trials.” Aside from affordable medicines, Filipino patients will have access to new and innovative medicines early on.