THE Philippines-European Union Free Trade Agreement (EU FTA), long under negotiation and repeatedly pushed for conclusion within 2026, is being framed by industry leaders as a potential driver of faster access to medicines and more stable drug supply and pricing in the country.
Diana Edralin, European Chamber of Commerce of the Philippines president, said the agreement remains a key priority for stakeholders seeking more predictable market conditions, particularly for healthcare products.
For the healthcare sector, Edralin, also the general manager of Swiss healthcare company Roche Philippines, pointed to what she described as the most immediate impact: improved access timelines for medicines, vaccines, and medical devices.
‘So right now, because of multiple factors, the lag time is about one to three years before a drug or a medical device is approved in the Philippines,’ Edralin said in a televised interview on Monday.
‘And that’s a significant delay considering how many innovative and life-changing medicines there are already available globally, especially in Europe,’ she added.
Under a potential ‘reliance pathway’ framework discussed in trade negotiations, approvals already granted by regulators such as the European Medicines Agency could be used as a reference, potentially shortening local evaluation timelines.
This gap, she said, has practical consequences for patients, such as access to newer treatments that are already available abroad but reach the Philippine market later.
Beyond market access, Edralin said supply chain stability remains a persistent concern for pharmaceutical companies operating in the country.
‘We continue to absorb all of the increase in the jet fuel prices, even the local distribution costs. And actually, the third impact for us is the peso devaluation,’ she said.
While companies have so far absorbed some of the cost pressures, Edralin said sustained increases could eventually affect pricing dynamics if global conditions remain unstable.
To address these risks, the ECCP head said stakeholders have been discussing pooled procurement systems, which would allow forecasting of medicine and vaccine requirements over longer periods.
Better demand planning could help manufacturers and suppliers manage production and logistics more efficiently, potentially reducing cost fluctuations in the long term, she said.
However, she cautioned that the system remains sensitive to external disruptions, particularly in global shipping routes and geopolitical hotspots.
Any major interruption in supply chains, she said, could still translate into upward pressure on prices, especially in an import-dependent market like the Philippines.