The Philippines has been going through a minor shortage of a pharmaceutical group of medicine, paracetamol, also known by the trade name of “Tylenol”. The Pharmaceutical and Healthcare Association of the Philippines (PHAP) announced at the beginning of the year 2022 that the country is facing a shortage in the stock of paracetamol medicines.
Philippines pharmaceutical imports reached a whooping state of $3.60 billion for the end year of 2021. According to our Philippine import data records, pharmaceutical imports are in the top 10 imports of the Philippines for the year 2021 with an approximate share value of 2.98% in the overall imports of the Philippines.
Consumer Demand and Shortage
With the emergence of a new coronavirus variant, Omicron in the Philippines, consumers hoarded at the drug stores to buy medicines to treat the pains and fevers of the patients. Several consumers shared on social media on facing the difficulties to buy paracetamol. A few netizens also shared difficulties in finding the other various medicines at the drug store.
Below shown are the paracetamol imports by the Philippines in the year 2021, retrieved from our trade records. As per the evaluation of below represented Philippine import data 2021, the highest value of paracetamol imports in the Philippines is in October 2021. Further on, we can observe that the imports for Tylenol go downhill till December 2021.
Statements Claimed Otherwise
Although the pharma group announced the shortage of paracetamol in multiple locations of the Philippines, the group also added in their statement that there are different dosage forms, combination products, and strengths available under different brands’ names. The group also added that a medicine named “analgesics” is also available in their inventory.
Trade Secretary Mon Lopez clarified that there is no shortage of paracetamol. PHAP stated that since the beginning of the pandemic, PHAP members have made sure to stockpile both COVID-19 and non-COVID-19 medicines. Below represented Philippine pharmaceuticals import data 2021 shows the import values by month. December has the highest value.
Philippines pharma group and authorities are working together with the Philippine government to ensure the pharmaceutical inventory security and recommendations on maintaining the supply of medicines. According to our trade data experts, pharmaceutical imports are gradually increasing in the country since the introduction of Omicron in the country, which indicates high domestic demand coming up in the future. PHAP urged people to not panic-buy the medicines and pile up the medicines, along with the advice to buy alternatives for Tylenol.