President Arroyo on Friday enacted a law that will cut down high prices of medicines in the country.

Mrs. Arroyo signed into law the cheaper medicines bill, which will be called Republic Act 9502 or the Universally Accessible Cheaper and Quality Medicines Act of 2008, while visiting Sta. Cruz town in Laguna province.

The law aims to bring down medicine prices in the country. It encourages local medicine manufacturers to develop more effective and cheaper medicines by opening more imported brands into the country.