Wednesday, July 29, 2009

Countries creating laws to lower drug prices

The Wall Street Journal has an interesting look at how some countries are creating laws to combat the high prices of life saving medications. President Gloria Macapagal Arroyo of the Philippines reduced the drugs prices when the manufactures of several drugs failed to lower their prices to comply with a new law. The article states that drug companies have looked to emerging markets as a place to make up for the falling revenue in places such as the US, Europe and Japan. The Philippines new actions could cost large Pharma companies between $146 million and $208 million. Read the full article here.

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