Vietnam discusses amendments to Law on Pharmacy 2016

June 20, 2024 | 10:55

(0) user say

The National Assembly is discussing amendments to the Law on Pharmacy 2016 after months of proposals from the business community.

Minister of Health Dao Hong Lan presented the draft amendments to the law at the ongoing session of the National Assembly (NA) on June 18.

The minister said, “The amendments to the Law on Pharmacy 2016 aim to ensure people’s accessibility to quality drugs in a timely manner and at reasonable prices, deal with legal problems in drug management, and further facilitate business activities.”

Vietnam discusses amendments to Law on Pharmacy 2016

The draft amendments to the law were discussed at the National Assembly session on June 18

Accordingly, the amendments focus on five policy groups: further strengthening the sufficient and timely supply of quality drugs for disease prevention and treatment needs; ensuring sufficient and timely supply of drugs to meet the requirements of security, national defence, overcoming the consequences of natural disasters, and preventing epidemics; improving the management of imports and exports of drugs and medicinal ingredients in accordance with national socioeconomic development and international practices; promoting the development of the pharmaceutical industry by prioritising research, technology transfer, and production of innovative drugs, high-tech drugs, biological drugs/medicinal ingredients, standardised medicinal herbs, and medicinal ingredients available in the country; reorganising the business and distribution system of drugs and medicinal ingredients to meet the country’s socioeconomic development and international integration needs.

In particular, it amends and supplements a number of regulations on incentives and investment support policies to promote the development of the pharmaceutical industry to attract investment and promote the production of drugs and medicinal ingredients. This in turn will promote research and technology transfer and the production of medicinal ingredients, high-tech drugs, and biotechnology drugs in accordance with the development orientation of Vietnam's pharmaceutical industry.

Moreover, it amends regulations focusing on administrative reform in pharmaceutical activities, thus increasing access to medicines for people and creating more favourable conditions for individuals and businesses.

The Law on Pharmacy 2016 was passed by the National Assembly (NA) on April 6, 2016, replacing the 2005 Pharmacy Law, marking an important development step in completing the pharmaceutical legal system in Vietnam, and basically in accordance with international integration.

Under the 2016 law, Vietnam's pharmaceutical industry has developed strongly, with a market value among the top three in ASEAN.

However, practical implementation has shown that some contents of the Law on Pharmacy 2016 are no longer consistent with management requirements, thus causing difficulties for pharmaceutical production and business activities, affecting the supply of drugs, especially in urgent conditions such as the recent pandemic.

Besides, a number of new laws passed by the National Assembly such as the Law on Public Procurement, the Law on Prices, the Law on Electronic Transactions and others have direct impacts on the pharmaceutical industry.

Robust growth trends projected for investment in healthcare

Vietnam’s healthcare and pharmacy chains are increasingly getting new funds to expand their operations in local market, thereby securing access and availability of medical supplies and drugs for locals. However, concerns over adequate human resources in the sector dampen the bright prospects and could cause supply issues.

Modern pharmacy retail chains ramp up expansion

Modern pharmacy retailers are aggressively expanding their chains and embracing digital transformation solutions to conquer the promising market.

Pharmacity celebrates unprecedented breakthrough year

Vietnam's modern retail pharmacy chain Pharmacity has just announced the outstanding business results of 2021, eyeing a sharp growth in diverse business metrics.

Overseas touch lends to pharma gains

Vietnam’s pharma giants are growing with new strategies from foreign leadership, easing local doubts over the possible disappearance of local strong brands.

Vietnam's pharma sector shows potential

Prof. Nguyen Hai Nam, rector of the Hanoi University of Pharmacy, recently asserted the potential strength of human resources in Vietnam's pharmaceutical sector, suggesting it could be the underpinning element for attracting global investment.

By Bich Thuy

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional