The Philippine Competition Commission (PCC) highlighted the role of competition in driving innovation and affordability in the pharmaceutical sector.
In his speech at relaunch of the “I Stand for Integrity” campaign of the Pharmaceutical and Healthcare Association of the Philippines (PHAP) last July 29 in Taguig City, PCC chairperson Michael Aguinaldo said integrity in the pharmaceutical industry is paramount as it involves the safety and well-being of countless lives.
Aguinaldo said rigorous testing, high-quality manufacturing, and accessibility of medicines are fundamental to this commitment.
“Progress requires us to prioritize the long-term health and well-being of patients over short-term gains. That is, in essence, what competition aims to do–and that is also what integrity in the pharmaceutical industry is all about,” Aguinaldo said.
He added by fostering a competitive environment, the PCC seeks to ensure lower prices, a wider range of products, and improved quality of medicines for Filipino consumers.
“Working towards this ideal future requires collective effort. It demands collaboration across the industry, including the academe, healthcare providers, associations, private companies, and regulatory bodies alike,” Aguinaldo said.
