Unpacking the Ethics of Philippine Doctors' Ownership in Pharmaceutical Companies

Strategic Insights -

A recent controversy has highlighted allegations of unethical practices by some Filipino doctors, including owning shares in pharmaceutical companies and prescribing branded medicines. However, Senator Raffy Tulfo pointed out that these practices are not explicitly prohibited by law. The Food and Drug Administration (FDA) requires doctors who own shares in pharmaceutical companies to disclose their ownership, and the Revised Code of Ethics for the Medical Profession of the Philippine Medical Association sets standards for professional compensation and marketing strategies. Various medical professional groups have condemned the public shaming of doctors on social media, emphasizing the importance of resolving disputes through proper channels and upholding the reputation and integrity of the medical profession.

Key Takeaways:

  • There is no law that prohibits doctors from owning shares in pharmaceutical companies.
  • The Food and Drug Administration (FDA) requires doctors who own shares in pharmaceutical companies to disclose their ownership.
  • The Revised Code of Ethics for the Medical Profession of the Philippine Medical Association sets standards for professional compensation, including reasonable fees and no participation in marketing strategies.
  • Medical professional groups, including the Philippine College of Surgeons and the Philippine Medical Association, have condemned the public shaming of doctors on social media, emphasizing the importance of resolving disputes through proper channels.
  • The Philippine Wound Care Society has a mechanism for holding its members accountable for unethical practices.

Statistics:

  • 85,000 pesos: the amount reportedly charged by a Philippine Heart Center doctor for professional fees, which some groups have claimed is excessive.
  • 20 days: the duration of treatment for the patient whose mother was charged the reported 85,000 pesos.
  • 30 percent: the reduction in price of Bell Kenz medicines compared to comparable brands.

Sources:

  • Sen. Raffy Tulfo
  • Food and Drug Administration (FDA)
  • Philippine Medical Association
  • Revised Code of Ethics for the Medical Profession of the Philippine Medical Association, 2022
  • Philippine College of Surgeons
  • Philippine College of Physicians
  • Philippine Wound Care Society
  • Bell Kenz Pharma
  • Mon Tulfo