Speaker: Maria Cielo D. Magno
Date: 06 October 2023
Time: 4:00 PM
Venue: Judith R. Duavit-Vasquez & Class of 1984 Lecture Room
Other Details: None
Abstract:
One approach to reduce the cost of medicine is through generic drug competition. The Generics Act of 1988 (R.A. No. 6675) requires government health agencies and personnel to use generic names in purchasing, prescribing, dispensing, and administering medications. The law also requires all medical practitioners (public and private) to prescribe generic medication. We have seen an increase in generic prescribing in the Philippines. This is supported by the proliferation of generics-only drugstore chains in the country. Using IQVIA’s quarterly panel data from 2000 to 2020 of the therapeutic class statins, we examined whether the entry of branded and non-branded generic drugs can reduce the price of cholesterol-lowering medications.
