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TGP Wins Best Health Market Innovation Award

For its trailblazing accomplishment in bringing the benefits of generic medicines on a nationwide scale, The Generics Pharmacy® (TGP) recently obtained the “Galing Likha-Kalusugan Award” from the Philippine Institute for Development Studies (PIDS) and the Center for Health Market Innovations (CHMI). According to PIDS independent consultant Oscar F. Picazo, the Galing Likha-Kalusugan Award is part of a global effort to search for highly innovative private sector-led programs and projects and promising health market innovations in developing countries. PIDS and CHMI continue to conduct this program through a grant from The Rockefeller Foundation, the US-based global philanthropy organization that promotes the well-being of humanity.Picazo further said that TGP’s franchising feat could very well be the largest of its kind in the world. “The panel of experts that examined all the entries agreed that it’s the first generics pharmacy franchise of that scale in the world. It’s the best way we’ve seen of distributing inexpensive medicines to a wide market.” The award of excellence recognizes the unique innovation, significant impact, and high sustainability of TGP’s extensive franchise network. It also acknowledges TGP as a pioneering drug retail distribution company and the largest of its kind in the Philippines, with a business model that is worth replicating in the developing world. It also takes cognizance of TGP’s clear demonstration that a for-profit business can achieve the social goal of bringing affordable, safe and effective medicines to poor Filipinos. “The growth of our company is simply our response to the unstoppable demand to continually bring down the price of medicines and help a lot of Filipino families,” said TGP President and CEO Benjamin I. Liuson as he accepted the award. He was joined by Enrique T. Ona, Secretary of the Department of Health Secretary; Reiner Gloor, the president of the Pharmaceutical Healthcare Association of the Philippines; Dr. Alejandro Herrin, chair of the Project Steering Committee for the Galing Likha-Kalusugan Award; Presidential sister Aurora Corazon Aquino-Abellada; and Ann Hirschey, Chief of the Office of Health of USAID. The Generics Pharmacy® set up its franchising model in 2007 and consequently opened the market for generics medicines, allowing millions of Filipinos to benefit from high quality, safe and effective medicines at affordable prices. It has grown to be the country’s largest drug store chain, with more than 1,245 branches nationwide.