Prices of 7,500 insured-covered drugs to be lowed

In a move that is likely to curb current growth prospects for the local pharmaceutical industry, the government said Monday that it plans to cut drug prices by an average of 14% starting in 2012 as part of its efforts to reduce excessive medical outlays that have become a social burden.

Some 87,500 items of the 14,000 available on the market here registered to the national health insurance ...