- BMI says expanded VAT exemptions for essential medicines should boost demand and benefit drugmakers, especially local generic manufacturers.
- The government increased VAT-exempt chronic disease medicines to 2,263 in April, aiming to lower prices and raise sales volumes.
- Stronger national medicine reserves could provide a steadier demand source and encourage long-term investment in local production.
- Risks remain: high out-of-pocket costs, heavy reliance on imports, limited skilled labor, weak R&D, and financial constraints may slow industry growth.
Source: philstar.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
