Exodus of drug companies

Healthbeat 1999 No. 10.jpgHealthbeat 1999 No. 10.jpg

All fingers pointed at the DOH as the main culprit for the pullout of multinational Pharmaceutical companies in the country due to its plans of scrapping the use of brand names of drugs in favor of generic names. The health department snapped back that stiff competition, and not the promotion of generic drugs, triggered the plight of foreign drug companies out of the country.

Romualdez said in March that some multinationals are closing their operations because they prefer to operate in countries where production costs are lower. The health chief added that the whole issue was fabricated by people who are not convinced about the generics law and by drug companies that do not want to be regulated.