Amid tensions in the Middle East that could affect global logistics and fuel costs, medicine prices in the Philippines are expected to remain stable in the coming months, with no increases seen at least until June, the Department of Health (DOH) said on Friday, April 10.

Health Secretary Teodoro Herbosa said pharmaceutical firms have committed to keep prices steady for now.

“Kinausap namin ang pharma industry. Ang promise nila hindi sila magtataas kasi hindi naman dumadaan sa Strait of Hormuz yung mga gamot. Pero ang sabi nila hanggang June lang ‘yan (We spoke with the pharmaceutical industry. Their promise is they will not increase prices because medicines do not pass through the Strait of Hormuz. But they said that is only until June),” he said during a media forum at The Manila Hotel.

Herbosa said pharmaceutical inventories are generally good for about three months, after which new orders may be affected by higher logistics costs.

“So it seems the inventory of our pharma industry is like a three-month inventory and then when they order, tataasan na sila ng supplier kasi logistics ‘yan (So it seems the inventory of our pharma industry is like a three-month inventory, and when they reorder, suppliers may increase prices because of logistics),” he said.

“Ang logistics, whether eroplano ‘yan o barko, gagastos ‘yan ng higher fuel cost. So ‘yun pwede nilang ipasa, at some pwede nila i-absorb. So ‘yun ang babantayan ko, ‘yung second half of the year (Logistics, whether by plane or ship, will incur higher fuel costs. That can be passed on, and some can be absorbed by the pharmaceutical company. That is what I will monitor in the second half of the year),” he added.

Herbosa said the matter was raised with President Ferdinand Marcos Jr. during a recent UPLIFT meeting, alongside updates on the government’s Drug Price Monitoring Index.

Under the Cheaper Medicines Act, the DOH, Department of Trade and Industry, and Department of the Interior and Local Government are mandated to monitor retail and wholesale prices of common medicines.

Herbosa said that while monitoring is currently done quarterly, the DOH has expanded surveillance to weekly tracking of 10 essential medicines, including drugs for hypertension, diabetes, high cholesterol, and antibiotics, to quickly detect any unusual price movements and prevent potential exploitation in the market.

He noted that the President has the authority to impose a medicine price cap upon DOH recommendation, if necessary.