Pharmaceutical industry must be managed under market rules: Deputy PM

Deputy Prime Minister Tran Hong Ha addresses the meeting (Photo: VNA)

Hanoi – Deputy Prime Minister Tran Hong Ha underlined the need to manage the pharmaceutical industry under market rules, ensuring publicity, transparency, quality control, safety, and cheapest prices during a meeting in Hanoi on February 19 to discuss the law on amendments and supplementations to some articles of the Law on Pharmacy.

Ha asked the Ministry of Health (MoH) to collect ideas and fully clarify regulations in the bill, especially those related to the implementation of international commitments and agreements as well as laws on investment, price management, advertising, and rights of foreign-invested enterprises.

At the same time, the simplification of administrative procedures in the field should ensure close, scientific management and safety, he said.

The ministry was requested to design regulations on recognising and referring standards and quality of drugs that have been tested by the World Health Organisation (WHO) or national pharmaceutical management agencies recommended by WHO, and add some clinical pharmacological assessment criteria to ensure safety and suitability for Vietnamese people's physical condition.

Deputy PM Ha also asked the MoH to support foreign pharmaceutical firms to invest in drug production and transfer technologies in Vietnam, and effectively tap domestic herbal medicine potential.

According to MoH Deputy Minister Do Xuan Tuyen, three key pillars in the management of the pharmaceutical industry are circulation registration number granting, prices, and quality of drugs.

Minister of Health Dao Hong Lan said that the bill shortens the time for renewing drug circulation registration numbers from three months to 15 days, while applying automatic renewal.

At the meeting, participants gave ideas on various issues included in the bill. Deputy Minister of Justice Dang Hoang Oanh proposed that the bill should specify regulations on supporting and promoting the growth of the pharmaceutical industry.

Deputy Minister of Public Security Sen. Lieut. Gen. Nguyen Duy Ngoc suggested that it is necessary to design suitable management measures for toxic medicinal herbs used to make medicine, while ensuring a certain level of openness in importing medicine in urgent situations to serve national defence and security needs.

Pfizer Vietnam General Director Darrell Oh proposed the application of mechanisms to use assessment and inspection results of pharmaceutical management agencies recommended by WHO.

Deputy Minister of Planning and Investment Nguyen Thi Bich Ngoc said that the MoH should design regulations that are consistent with the definitions of the World Trade Organisation (WTO) and current laws, and compatible with other industries.

The game-changers in pharmaceuticals Innovative pharmaceuticals are emerging as a game-changer reshaping the industry, which is urging Vietnamese authorities to have supporting policies to tap into new potential.

Opening the domestic arena to pharma distribution Vietnam’s pharmaceutical market is one of the fastest growing markets in the world. However, although the market is growing rapidly, production capacity can only meet about half of domestic demand.