The Department of Health (DOH) lauded Friday Euro-Med Laboratories Philippines for joining the second wave of drug price cuts implemented recently by the agency.

"We are happy that another drug company has responded to our request for price reductions, and happier that their prices are lower than what we recommended,” Health Secretary Esperanza Cabral said.

“Thousands of Filipinos with chronic kidney disease and reliant on dialysis treatments for survival stand to benefit greatly from this move by Euro-Med,” she added.

Euro-Med Laboratories Philippines, Inc. has been in the drug manufacturing industry since 1988 and currently one of the largest intravenous fluid manufacturers in Asia, the DoH said.

The drug maker submitted its list of drugs and medicines for the latest round of Government Mediated Access Price (GMAP) reductions at prices lower than what the government had originally expected, a DoH statement said.

The company will impose price reductions on dialysates such as: hemodialysis acid concentrate 01-11, five liters (brand name: Solucid AC) and hemodialysis bicarbonate concentrate 01-02 five liters (brand name: Solucarb BC) that will be sold at P369.60 (lower than expected GMAP of P484), and their respective ten liter products at P705.60 (GMAP P924); sodium bicarbonate 840-gram pouch and sodium bicarbonate with sodium chloride 845-gram pouch to be sold at P218.40 each (GMAP P286); 5 percent liquid bicarbonate concentrate and 8.4 percent liquid bicarbonate concentrate, five liters (brand name: Solucarb BC 03-5 percent and Solucarb BC 03-8.4 percent) to be sold at P369.60 (GMAP P484) and their ten liter products at P705.60 (GMAP P924).

Other medicines from various drug makers have already been slashed by 50 percent when the first wave of price reductions took effect in August 2009 that covered 100 drugs.

The second wave of drug price cuts took effect last March 31, covering 98 medicines.