Republic Act (RA) No. 9502, otherwise known as the “Universally Accessible Cheaper and Quality Medicines Act of 2008.” Chapter 5, Rule 28, states that the Secretary of Health (SOH) may form advisory bodies and consultative councils from which advice may be sought in the implementation of a drug or medicine price monitoring and regulation policy, hence, the Advisory Council for Price Regulation was created. The discussions later focused on the overall implementation of the law, consequently renaming the body as Advisory Council for the Implementation of RA 9502.

The members of the council meet at least once a year or more frequently (quarterly) as the need arises.

The Chair of the body is the Cluster Head (Undersecretary or Assistant Secretary) in charge of the Pharmaceutical Division, Department of Health, and the Co-Chair is the Undersecretary or Assistant Secretary of the Department of Trade & Industry

Current Chairperson:​    

• OIC – Usec.  Maria Rosario S. Vergeire, DOH – Health Regulation Team

Past Chairpersons:​         

• Asec. Charade B. Mercado-Grande
• Usec. Rolando Enrique Domingo
• Asec. Enrique A. Tayag
• Asec. Agnette P. Peralta
• Usec. Dave M. Almarinez
• Usec. Kenneth Y. Hartigan-Go
• Usec. Ma. Lourdes Baua

1. Intellectual Property – TRIPS Flexibilities including parallel importation
2. Drug price monitoring and regulation – DPRI, Electronic Drug Price Monitoring System (EDPMS), Senior Citizens/Persons with Disabilities (PWDs) discounts, Maximum Retail Price
3. Financing – PhilHealth packages and DOH budget for essential medicines
4. Strengthening of the Food and Drug Administration
5. Rational Use of Medicines – Philippine National Formulary, Antimicrobial Resistance, ethical marketing practices
6. Pharmacy and healthcare professional practice
7. Pharmaceutical supply chain