A business mission led by Anil Argilla, president of Emerging Markets Asia at Pfizer, worked with Deputy Minister of Health Do Xuan Tuyen and the heads of other departments on May 25 to discuss business opportunities in Vietnam.
At the meeting, the two sides discussed issues of mutual concern such as institutions and policies related to the development strategy of Vietnam's pharmaceutical industry, the supply of Comirnaty vaccine, and innovative and biosimilar drugs, among others.
|The meeting between Vietnam’s Ministry of Health and Pfizer |
According to Tuyen, the Ministry of Health (MoH) is reviewing and amending the Pharmacy Law to attract foreign investment in the manufacturing of patented drugs, specialised drugs, generic drugs in high-tech dosage forms, vaccines, reference biological products, and biosimilar products for submission to the National Assembly for consideration.
The above orientation also echoes the perspective of the national programme on the development of the pharmaceutical industry over the 2030-2045 period that was approved by the Prime Minister in Decision No.376/QD-TTg dated March 17, 2021.
Accordingly, the goal by 2030 is to have transfer technology for producing at least 100 patented drugs, vaccines, and biomedical products that Vietnam has not yet been able to produce.
The current general policies and specialised regulations are very favourable, providing incentives for investment attraction in the manufacturing of drugs.
In line with the guidelines of the Party and government of Vietnam, the MoH is ready and wishes to create advantages for the export, import, and investment activities of pharmaceutical corporations in Vietnam, especially those that facilitate technology transfer.
"Through the information exchange, I hope Pfizer Group gained an overview of the orientation of Vietnam's pharmaceutical industry and wishes to cooperate in investment and technology transfer to promote the production of both generic and specialised drugs such as monoclonal antibodies for cancer treatment, biosimilar drugs, and biological vaccines in Vietnam," said the Deputy Minister.
|Anil Argilla, president of Emerging Markets Asia at Pfizer |
Argilla expressed his thanks to the MoH, related ministries, and other units for supporting Pfizer to bring the COVID-19 vaccine to Vietnam quickly, allowing it to make an important contribution to the success in the fight against the pandemic. He emphasised Pfizer's commitment to continuing to be a reliable partner in the future with long-term cooperation with the MoH in the fields of pharmaceuticals, vaccines, and biomedical products.
On May 24, Pfizer (Vietnam) Co., Ltd. and Vietnam Vaccine JSC signed an MoU to partner on the protection of public health by increasing the prevention of dangerous infections over the 2023-2025 period.
| ||Pfizer focused on expanding vaccine capabilities |
While being accused of pandemic profiteering as profits double, US pharma giant Pfizer is running ahead with strong moves to support vulnerable populations, while seemingly attempting to hold onto the secrets of its COVID-19 vaccine recipe.
| ||US pharma giants commit to Vietnam |
As Vietnam is striving to attract more private and foreign investment in the healthcare sector, US pharma giants are continuing to reinforce moves to expand in Vietnam to tap into the growing healthcare demand in the country.
| ||Singapore authorises use of Pfizer’s COVID-19 vaccine on under-five children |
Singapore has recently approved Pfizer's Comirnaty COVID-19 vaccine for use on children aged six months to four years.
| ||Pfizer lifts 2022 forecast for Covid-19 vaccine sales as profits rise |
Pfizer reported higher quarterly profits Tuesday as it lifted its full-year forecast for coronavirus vaccine sales and predicted Covid-19 would yield billions more in revenues for the forseeable future.
| ||Multinational pharma groups keen on robust partnerships |
After making gains in 2022, multinational corporations will prioritise strengthening local partnerships to support their ambition of transforming the treatment landscape – but they are also pleading for further legal clarity.