A news report today says 12 pharmaceutical companies from India are in the country to explore partnerships with local drug manufacturers, retailers and traders. The visit was facilitated by the Indian embassy in Manila, the Philippines-India Business Council (PIBC), and the Pharmaceuticals Export Promotion Council (Pharmexcil) of India.
The group reportedly met with the biggest local pharma, Unilab, and the biggest local drug retailer, Mercury Drug.
This is a welcome development. Let there be more players, more manufacturers, more traders, more competition, to serve the country’s consumers. Competition always favors consumers as there is a wider choice for them in terms of price, product and service quality.
Government moves that unnecessarily intervene in competition among players, like drug price regulation, will no longer be necessary when it is clear that competition is working well.