A significant chunk in every hospital bill goes to medicine expenses, but a new partnership aims to cut medical costs of Filipino patients’ by providing more affordable and quality medicines in health institutions.
The country’s leading generics company RiteMed Philippines Inc. recently inked a memorandum of agreement with Euro-Med Laboratories Philippines Inc., an intravenous-fluid manufacturer, for the delivery of quality and affordable medicines to hospitals nationwide.
Under the MOA, Euro-Med will be carrying and distributing all RiteMed pharmaceutical products to hospitals and healthcare facilities within its network across the country, according to Unilab, Inc. senior vice president for the RiteMed, Inc. Group, Jose Maria Ochave.
“Our vision is to provide access, not just to medicines, but to healthcare in general,” said Ochave.
For Euro-Med’s part, its president, Georgiana Evidente said the partnership will advance both companies’ advocacy of providing quality but affordable healthcare products to Filipinos.
“We’re so glad to be here to mark this momentous occasion. Euro-Med is committed in growing the RiteMed business in the hospital sector and we look forward to a very long and fruitful partnership between the two companies,” shared Evidente.
Currently, RiteMed’s presence in hospitals, Ochave said, is very small. He estimates that the hospital segment accounts for around 15 percent of the total market of pharmaceutical products.
With this partnership, the brand sees that Filipino patients would be able to cut their hospital bills, as affordable and quality medicines are now within their reach.
“The objective of RiteMed is always focused on improving access by competing with the others to bring prices down. So, hopefully, this will be an opportunity for us to further advance our campaign for greater access to quality healthcare,” stressed Ochave.