By Hannah Torregoza  President Rodrigo Duterte’s signing of an executive order (EO) that sets a maximum retail price on selected medicines was a laudable move and a healthy exercise of regulatory powers, Sen. Risa Hontiveros said on Wednesday. Sen. Risa Hontiveros (Senator Risa Hontiveros / Facebook / File Photo / MANILA BULLETIN) She welcomed Duterte’s signing of EO 104 last Monday (Feb. 17), noting that the Executive’s regulatory powers under the Cheaper Medicines Act have not been exercised for more than a decade. “The President was given authority by the law to act on recommendations by the Department of Health (DOH),” Hontiveros said. “It’s been more than a decade since we last used this mandate. The signing of this EO prioritized people’s welfare over the lobbying of big pharma.” The senator also hailed Malacañang’s EO as “a step in the right direction to realize universal healthcare.” “It will improve access of Filipinos to essential medicines and reduce the cost of out-of-pocket expenses,” Hontiveros said. She noted that nearly half or 41 percent of all healthcare spending in the Philippines goes to pharmaceutical products, compared to other low-income countries. “Kapag abot-kaya ang gamot, mas maaalagaan ang mga mahal natin sa buhay (When medicines are affordable, we can easily take care of our loved ones),” she said. The EO covers essential medicines for hypertension, diabetes, cardiovascular diseases, and other illnesses. Sen. Christopher “Bong” Go, chair of the Senate committee on health and demography, confirmed the signing of the EO in a radio interview. This was later confirmed by Presidential Spokesperson Salvador Panelo, who said the President signed on Feb. 17 EO 104 entitled “Improving Access to Healthcare through the Regulation of Prices in the Retail of Drugs and Medicines.” READ MORE: President orders price cap on more than 100 medicines