MANILA—Philippine pharmaceutical company Unilab on Saturday said it was not withholding stocks of certain medicines and increasing their prices amid a surge in demand.

In a statement, Unilab said there was no truth to what it called “rumors” that it hoarded stocks of Biogesic, Bioflu, Neozep, Solmux, and Decolgen drugs used to treat fever, coughing, and other symptoms of COVID-19.

Unilab said an "extraordinary high demand" caused supplies to temporarily run out "in certain areas of the country."

"We continue to manufacture and have in fact increased the manufacturing volume of these products to serve the extraordinary demand," the firm said.

It also urged all Filipinos to refrain from "relying upon and passing on false news" in order to not "cause public panic and anxiety."

Earlier this week, the government limited the purchase of paracetamol and several other flu treatment medicines to prevent "artificial shortages" and price hikes.

• Gov't sets cap on purchase of paracetamol, flu meds