Abbott helps people live to the fullest with high quality medicines

Ngo Van Huy, general manager of Abbott’s pharmaceuticals business in Vietnam

What goals and expectations does Abbott have in Vietnam?

Abbott’s pharmaceutical business offers medicines and services to help treat some of the most pervasive health conditions around the world, setting the standards for high-quality and reliable medicine in developing countries. Our products cover several therapeutic areas, including gastroenterology, women’s health, cardiology, respiratory, central nervous system, pain, and over-the-counter portfolios.

In Vietnam, our pharmaceutical innovation and development team has been working on innovation in formulation, packaging, and new indications to enhance the care of patients via our market-specific product portfolio. It has also developed strong partnerships with key healthcare stakeholders in a common effort to improve the country’s general standard of care. As part of our commitment to providing better access to improved healthcare, we regularly partner with local medical associations, patient groups, and top scientific experts to share knowledge on current practices in prevention, diagnosis, and treatment, dedicated to making the world a healthier place.

The pharmaceutical sector in Vietnam has witnessed robust growth with the participation of new international players as well as the expansion of domestic and international players. What are your forecasts for the sector?

Along with changes to its economy, Vietnam’s healthcare needs have also advanced. A growing middle class, an aging population, and changes to the healthcare policy have increased the demand for quality care for all ages. With a steady growth over the past years, Vietnam is a promising market for foreign investors and multinational groups. It is for this reason that branded generics make up a significant part of the healthcare environment. We are doing our best to offer superior values to patients, doctors, and pharmacists over our competitors. Our strategy is focused on increasing access and being closer to patients and other customers by building a portfolio that best meets each country’s needs.

Unlike proprietary pharma companies that focus their innovation on the discovery of new molecules, in our medicines business we innovate everything but the molecule. We look at the best technology and science, new ways of using existing medicines, new delivery methods, new dosage combinations, new indications or digital solutions that improve patient adherence and make people’s lives better. Applying these incremental innovations to existing off-patent medicine provides added value to our patients. While this approach is common in other industries such as consumer goods, this insight-driven approach is less common in healthcare.

What are the key factors behind the success of Abbott’s pharmaceuticals business in Vietnam?

The pharmaceutical market in Vietnam is changing rapidly, in line with healthcare advancements and the rise of digital and social media. These changes have helped empower Vietnamese people who now take a more active role in managing their overall health – by asking more questions from their healthcare provider, but also by getting information through digital tools. At Abbott, we address this important need for reliable information and provide traditional and digital services that support people in managing their health, get more information on various health states, and shape the way physicians and doctors interact with their patients.

Additionally, we also focus on integrating the Glomed business, which Abbott acquired in 2016. This acquisition is an example of Abbott’s commitment to improving Vietnamese patients’ access to affordable and high-quality medicine. In the past two years, we have invested in the Glomed facility to upgrade our overall manufacturing capability, train talent, and increase overall throughput potential. These changes have been made based on Abbott’s 130-year reputation for quality, reliable supply chain, and world-class scientific culture, so that more and more people in Vietnam can enjoy the power of good health.

Can you share more about the future development orientation of Abbott’s pharmaceuticals business in Vietnam?

As a global healthcare company with life-changing technology, Abbott’s mission is to help people all across the world live their best possible life through the power of health. For nearly 130 years, Abbott has been devoted to improving the lives of people in over 150 countries around the globe, through the development of technologies and high-quality products that span the breadth of healthcare.

We have also been active in developing and nurturing strong partnerships with the government, medical associations, and healthcare experts to address local health priorities and improve the quality of healthcare solutions. In our pharmaceuticals business, staying true to our commitment means continuing to offer a wide variety of medicines that address several health stages, with our branded off-patent medicines, which are more accessible than original medicines, but equal in terms of quality, efficacy, and safety.

We are set up for future growth because we compete with value. By creating solutions that meet patient needs, we give people a reason to choose our medicines. Our global scale and local presence sets us up for long-term success in Vietnam. Our global scale provides a solid base to remain competitive, especially when it comes to manufacturing – we can leverage capabilities beyond our local manufacturing sites – and innovation. And our local decision-making means we can easily adapt to social, economic, and political changes in our market.

At Abbott, we believe that the access to high-quality, trusted treatment is essential to help people get better, and go back to the things they enjoy doing. We continue to create value by delivering meaningful innovation and improvement, driven by patient needs. This can be a new form of medicine, differentiated packaging or services based on consumer choice or preferences.