MANILA, Philippines ? United Kingdom-based pharmaceutical giant GlaxoSmithKline Philippines cut the price of its drugs by as much as 50 percent, becoming the first in the world to do so under a worldwide program that targets 50 least developed countries.

GSK is the largest multinational pharmaceutical and healthcare company in the Philippines.

Branded drug products included in the price slash are those for acute diseases such as pneumonia and other bacterial infections, ulcer, bronchitis, hospital-acquired infection, nausea and vomiting.

The price reduction also included GSK?s drugs used to manage chronic diseases such as hypertension, type-2 diabetes, asthma and chronic obstructive pulmonary disease (COPD), bipolar disorder and chronic hepatitis B infection.

More affordable price

The company?s cervical cancer vaccine continues to be available at a more affordable price, after it was reduced by as much as 60 percent last November.

?The price reduction is one of GSK?s biggest and boldest steps to make its branded and patented drug products affordable to more Filipinos. We believe that as a global pharmaceutical company, we have an obligation to help the poor get treatment,? said Roberto Taboada, GSK Philippines president and managing director.

Taboada explained that the price reduction is not a limited promotion.

?Rather, it is our long-term commitment to Filipino patients. GSK Philippines? previous experience with our ValueHealth program plus the continued support and feedback from patients and doctors made us confident that we will be able to sustain this program,? he explained.

Started in 2004, the ValueHealth program significantly reduced the prices of select GSK original and most widely prescribed products that included the company?s cervical cancer vaccine.

Do the same

With GSK Philippines setting itself as role model, Taboada is hoping that more drug firms, whether locally based or multinational, will do a similar step to bring down the cost of medicine here in the Philippines.

?Pharmaceutical companies are always being criticized for their products? high prices. With this move, GSK is one of the few who stood up and addressed the issue,? Taboada said.

He also explained that the lowering of prices will not have an effect in GSK?s operation in the Philippines.

?GSK Philippines is, in fact, increasing its clinical research programs here. This is because the country has become one of the centers of excellence in terms of clinical trials that will allow a number of Filipino patients to have access to new and innovative medicines being studied,? Taboada said.