Multinational drug firms’
profits up 16 percent
MULTINATIONAL pharmaceutical companies raked in a combined
P6.96 billion in after-tax net profits from their Philippine operations in 2007,
up 16 percent or P970 million compared to the P5.99 billion they posted in 2006.
This was bared by Cebu Rep. Eduardo Gullas, one of the
authors of the Universally Accessible Cheaper and Quality Medicines Law, or
Republic Act 9502.
Citing data from the Securities and Exchange Commission,
Gullas said the 11 multinational pharmaceutical firms operating here generated
P62.1 billion in combined revenues in 2007, up P6.7 billion, or more than 12
percent versus the P55.4 billion they posted in 2006.
Gullas said Wyeth Philippines Inc. had a net profit of P1.87
billion on gross revenues of P14.37 billion; Bristol-Myers Squibb Philippines
Inc., a net profit of P2.04 billion on gross revenues of P11.64 billion;
GlaxoSmithkline Philippines Inc., P996 million net profit on gross revenues of
P8.37 billion; Abbott Laboratories, P625 million net profit on gross revenues of
P6.79 billion;
Pfizer Inc., P559 million net profit on gross revenues of
P6.68 billion; Roche Philippines Inc., P244 million net profit on gross revenues
of P3.38 billion; Boehringer Ingelheim Philippines Inc., P495 million net profit
on gross revenues of P3.04 billion; Bayer Philippines Inc., P139 million net
profit on gross revenues of P2.88 billion;
Novartis Healthcare Philippines Inc., P159 million net loss
on gross revenues of P2.83 billion; Schering-Plough Corp., P36 million net
profit on gross revenues of P1.07 billion; and Eli Lilly Philippines Inc., P120
million net profit on gross revenues of P1.04 billion.
Multinational pharmaceutical firms had tried but failed to
stop the passage of RA 9502 which took effect Nov. 22 following the release of
its implementing rules and regulations via a joint administrative order issued
by the Department of Health, Department of Trade and Industry, Bureau of Food
and Drugs and the Intellectual Property Office.
Gullas said DOH and DTI needs to ensure the rigorous
enforcement of the new law in order to quickly drive down medicine prices
nationwide.
Postal exec’s dismissal
immediately executory: CA
THE Court of Appeals has denied for lack of merit the
petition filed by assistant postmaster general Antonio de Guzman seeking to
annul the Ombudsman’s decision dismissing him from the service after he was
found guilty of graft.
The CA’s Third Division affirmed the Aug. 31, 2007 decision
of the Public Respondent Office of the Ombudsman, and declared it immediately
executory even pending the resolution of de Guzman’s motion for reconsideration
based on the Rules of Procedure.
"No vested right of the petitioner is violated by the
immediate execution of the decision even pending his motion for reconsideration
as he is considered preventively suspended while his case is on appeal," the
court said.
De Guzman was charged before the Ombudsman with grave
misconduct and dishonesty by the Philippine Postal Corp. (PPC) on Oct. 20, 2005
for illegally extending the contract of carriage of mail entered into by the PPC
with Aboitiz Air Transport Corp. without benefit of a public bidding.
De Guzman was then acting officer-in-charge of PPC.
Aside from extending the contract, de Guzman also unilaterally increased the
rate per kilogram of mail from P5 to P8 without prior approval of the PPC board
of directors. – Evangeline C. de Vera
