Similar to other businesses operating in the country, the research-based pharmaceutical industry is seeking economic relief from the government to help them recover from the ill effects of the COVID-19 pandemic.
The Pharmaceutical and Healthcare Association of the Philippines (PHAP), representing the research-based providers of life-saving medicines, vaccines and diagnostics in the country, said the pharmaceutical industry is confronting the burden of providing quality medicines to Filipinos while battling market contractions.
“We have seen a significant contraction in the prescription market, and we expect it to continue to worsen in the coming months due to disruptions in the supply. We are confronting the twin burden of making available medicines needed by Filipinos every day as well as the need for us to recover from unexpected losses due to the pandemic,” PHAP Executive Director Mr. Teodoro Padilla said.
Market contractions are due to logistical challenges, unforeseen and unplanned expenses, as well as fluctuating forecasts and inventories. It is also struggling due to expenses related to credit delays, impairment of assets, and the need to manufacture and operate under the new normal in the Philippines and globally.
“The industry also needs economic relief to help keep the sector afloat. While we try to remain steadfast amid these trying times, we also need support because we are also hurting, and yet the role we play in this time is more important than ever. We do not only endeavor to find the treatment or vaccine for COVID-19, we are also exerting all efforts to ensure the uninterrupted supply of medicines and vaccines needed by our fellow Filipinos,” said Padilla.
He added, “If you may have noticed, reports of out-of-stocks for life-saving medicines are minimal despite global lockdowns due to the efforts our Members. Aside from that, there is conscious effort from our Members not to pass on the additional expenses we incur to keep prices steady."
Despite the challenges, PHAP Members continue to implement various corporate social responsibility initiatives to help support Government efforts in combating the pandemic.
PHAP Members and the PHAPCares Foundation have contributed about P120M monetary and in-kind donations to the country's COVID-19 response. The efforts were launched to help protect frontliners and support more than 1.5 million families and over 155 hospitals nationwide.
Beneficiaries include government and private hospitals, charitable institutions, government agencies, and nongovernmental organizations (NGOs), among others. In-kind donations of PHAP Members consist of Personal Protective Equipment sets, test kits, ventilators, medicines, vitamins, vaccines, personal hygiene items, disinfectants, food packs for frontline health workers, and transportation assistance for patients. Employees of PHAP Member companies are also volunteering in community efforts to support frontline health workers and patients impacted by the COVID-19 outbreak in the country.
“Our member companies have proactively helped in the battle against COVID-19. We will continue to support the efforts of both the public and the private sectors to mitigate the adverse effects of this pandemic and help our country recover once again,” said PHAPCares Foundation Executive Director Dr. Rosarita Quijano-Siasoco.
Since 2003, the PHAPCares Foundation has raised around P1 billion in medicine and financial assistance to Filipinos disadvantaged by sickness, poverty, conflicts and disasters. PHAPCares is accredited by the Philippine Council for NGO Certification as a donee institution and is a registered institution at the Department of Social Welfare and Development (DSWD).
Government and private hospitals, charitable institutions, government and nongovernment agencies have benefited from these social responsibility initiatives, as PHAP seeks to further collaborate and forge partnerships with both the public and private sectors.
“Our goal as an organization is to advance the research and development of medicines and life-saving therapies for Filipinos, and this has never been more pronounced as it is today,” Padilla said. “We are doing steps to contain and fight the pandemic but we also want to collaborate on pandemic preparedness because COVID-19 will not be the last health challenge that we will have to confront.”
Driven by the same commitment to advocate for improved health for Filipinos, PHAP is working with churchill Integrated Public Relations to advance their shared health objectives with utmost integrity during these unprecedented times.
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