Medicine prices slashed by half, It can be done on a global scale
MANILA -- President Gloria Macapagal-Arroyo signed Monday an executive order imposing a 50-percent price cut on five commonly used medicines whose prices the pharmaceutical companies refused to bring down.
Arroyo said Executive Order (EO) 821, which she signed before delivering the State of the Nation Address (Sona) on Monday, takes effect on August 15 but she gave the drug firms one month, or until September 15, to fully comply with it.
This is a very good move because the poor can not afford to buy medicine at his present time. The pharmaceutical companies are making Hugh profits. Perhaps this methodology should be introduced in other nations even in the USA?
Her critic's say she does nothing much for the people of the Philippines, this action is a big piece of social awareness and reform.
Governments of the world take note, its time to step in and control the greedy Pharmaceuticals the world needs cheaper medicine it will save millions of lives each year if imposed.