Pharmaceutical companies doing business in the Philippines offered to halve the prices of more than 80 best-selling drugst in order to dissuade President Gloria Macapagal Arroyo from imposing price controls on essential medicines. According to Alexander Padilla, a health department undersecretary, the Philippine operations of 14 global drug companies, including Pfizer, have made submissions regarding plans to cut drug prices. The collective action has been brought about by meetings between health officials and the president about how to make medicines more affordable to Filipinos of whom almost half live on less than $2 a day.
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