Latest news with #P15
GMA Network
16-07-2025
- Health
- GMA Network
Up to P15B lost yearly due to weak PH vaccination program — PIDS expert
The Philippines loses as much as P15 billion every year due to its "under-prioritized" immunization program for adults, as Filipinos and government grapple with mounting healthcare costs and lost productivity, a researcher from the Philippine Institute for Development Studies (PIDS) said Wednesday. "If we try to balance the costs of vaccination that could be through administration, etc., the benefit really outweighs the cost," Valerie Ulep, a senior research fellow and program director for PIDS' health economic and finance program, said in a forum. Among the working age population, Ulep cited that the total hospitalization cost among Filipino adults because of flu is estimated at P1.6 billion. Meanwhile, foregone wages among adults due to flu-related hospitalizations costs around P64 million. Ulep also reported that the total hospitalization cost among adults due to flu is estimated at P5.5 billion. Further, data showed that the estimated average number of days lost during sickness is four days with productivity losses at nearly P6 billion. "The productivity losses due to sick days, there are a lot of empirical evidence saying, suggesting that around, on average, the number of days are four days. So when we try to compute that, you will arrive at P6 billion productivity losses," said Ulep. "So these are substantial losses around P14 to P15 billion every year. And almost all these are preventable with a functioning adult vaccination program." Among seniors Meanwhile, infectious disease specialist Rontgene Solante said research data show that most influenza-related deaths are recorded among Filipinos aged 60 years old and above. "Majority of the deaths here is not among the children, it's mostly among the 60 years old and above. So kapag tinitignan mo itong excess mortality rate, mataas talaga ito, 5.3 per 100,000 person. That tells a lot especially for our population, we have 107 million and we have like 10 to 14 million who are 60 years old and above. That's the reason why when we will be prioritizing flu vaccine, this should be the population na kailangan natin mabigyan agad," said Solante. Further, Ulep said there will be consequences if the country will not improve its adult immunization program. "With under-prioritized adult vaccination, health system costs will continuously rise. As our population ages, pneumonia and flu vaccines will increase simply because more people are at risk. Second is that because of non-communicable diseases, vaccine-preventable diseases will intersect, causing complications that are harder and more expensive to treat," he said. "Third is there is labor productivity reduction, labor productivity will decline. Especially in the context of the Philippines, where you have a high informal sector where workers do not have paid sick leaves or health protection. So that will have more negative impact," Ulep added. "And finally, it widens inequity, poor and working age adults are hit the hardest when public programs do not provide protection." The PIDS senior researcher said the government must invest in awareness campaigns for adult immunization. "The government might want to invest more in awareness and advocacy… Maybe the government may start regulatory and procurement reforms to reduce vaccine prices in the market… This could be a policy agenda that requires working with a private insurance and employers to cover adult vaccination as part of the supplemental benefit," said Ulep. — VDV, GMA Integrated News
GMA Network
09-07-2025
- Business
- GMA Network
SM unveils luxury property unit, sets P100-M entry level for residential lots
The SM Group on Wednesday unveiled Signature Development Corp., its new property unit that will focus on the luxury market, starting with its Susana Heights development which will have an entry level price of P100 million for residential lots. According to SM executive vice president and Signature Series Group head Jose Juan Jugo, the new corporate entity will be tasked to develop some 400 hectares of landbank of the SM Group across the country. 'It's a different company, a different market altogether, right, so we want to make sure that the thinking behind the development of the products is also something that's taken with a fresh insight,' he told reporters in a briefing in Makati. 'We thought it best to create a separate organization to be able to maximize the insights we can get from the outside, so we got people with experience in high-end development,' he added. Jugo said the company is looking to tap new and existing clients of SM Development Corp. (SMDC), that targets the middle-income market, who are looking to expand and have bigger needs. 'Really, the challenge we've had really, is that this gigantic market we've been part of creating, SMDC, they will not be in the market forever. They will eventually have bigger families that will have more disposable income, they will have an upgrade in requirements, but we have not been able to address those needs as they want. They have to go elsewhere,' he said. 'We want to be there for them, continue serving them when their needs evolve, bigger wealth, bigger families with floor space requirements. We want to be there when that time comes for them,' he added. Real estate consultants have earlier said that the high-end property market has so far been shielded from the real estate slump in Metro Manila. The Signature Series will have a range of residential products — entry-level premium at P15 million designed for property upgraders, young executives, and starter families; upscale at P25 million for established professionals and affluent families; and luxury and ultra-luxury at P65 million and above for high-net-worth individuals and legacy families. The pilot luxury project will be in Susana Heights in Muntinlupa City, which the company is looking to sell at an entry level of P100 million for residential lots that will be at least 700 to 750 square meters. 'We had a choice to do small cuts for this property, but why would you do that if you can maximize that to something very meaningful and impactful to create a really special project,' Jugo said. He did not give a definitive timeline for the project but said it will be launched 'soon,' and that residential projects historically take three to four years to develop before they are turned over. Aside from the Susana Heights development, Jugo said the company is already forging a strategic partnership with another firm for a vertical development in Makati City. It is also looking to develop properties in Batangas, Cavite, Cebu, Manila, Parañaque, Pasig, Tagaytay, Taguig. 'One very promising aspect in the organization is the raw material is there, the land is there, nationwide. It's just a matter of us selecting the best properties available in our portfolio to develop into high-end primary residential communities. The opportunities are immense,' he said.—AOL, GMA Integrated News
GMA Network
06-07-2025
- General
- GMA Network
No winners of major lotto draws as Ultra Lotto prize reaches P189.8 million
There were no winners of either of the major lotto prizes the Philippine Charity Sweepstakes Office (PCSO) drew for on Sunday, July 6, 2025. No bettor chose the winning combination of 23-35-04-14-15-16 for the Ultra Lotto 6/58 jackpot, which has risen to P189,803,483.20. There was also no pickers of the winning combination of 23-13-30-28-09-36 for the Superlotto 6/49 prize of P15,840,000.00. Click here for the complete lotto results for Sunday, July 6, 2025. — BM, GMA Integrated News
GMA Network
03-07-2025
- General
- GMA Network
No winners of major lotto draws on Thursday, July 3
There were no winners of the major lotto jackpots drawn Thursday, July 3, 2025, according to the Philippine Charity Sweepstakes Office. No Superlotto 6/49 bettor took the P15,840,000 prize after nobody guessed the winning combination of 27-42-48-46-45-44. There were also no winners for Lotto 6/42, with the numbers 34-02-17-35-20-05 left unpicked, resulting in the P20,386,720.80 jackpot being left untouched. Check out the complete lotto results here. —RF, GMA Integrated News
GMA Network
01-07-2025
- General
- GMA Network
No winners of major lotto draws as Ultra Lotto 6/58 jackpot now P173M
There were no winners of the three major lotto jackpots offered by the Philippine Charity Sweepstakes Office (PCSO) on Tuesday, July 1, 2025. No bettor chose the winning combination of 34-24-41-48-37-36 for the Ultra Lotto 6/58 jackpot, which now stands at P173,307,289.20. It was better luck next time for those who bet on the Superlotto 6/49 prize of P15,840,000, with nobody choosing the winning numbers 19-15-17-25-20-47. It was similar for Lotto 6/42 when no one picked the correct numbers of 34-22-28-11-37-17 that would have won the P16,089,613.80 jackpot. For the complete lotto results, click here. —RF, GMA Integrated News .
