VIETNAM’S PHARMACEUTICAL INDUSTRY SETS DEVELOPMENT TARGETS FOR THE NEXT DECADE

By 2030, Vietnam will become a center for manufacturing or processing of, and transfer of technologies for, brand-name medicines in the ASEAN region.

Under Prime Minister Decision 1165/QD-TTg, approving the National Strategy for development of the domestic pharmaceutical industry through 2030, with a vision toward 2045, it is expected that the domestic pharmaceutical industry’s production capacity will meet 80 percent of the domestic demand and its product value will account for 70 percent of the pharmaceutical market’s value.

Meanwhile, there will be sufficient drugs for timely disease prevention and treatment, national defense, security and disease prevention and control, remediation of consequences of disasters, crises and public health emergencies.

At the same time, domestically-manufactured vaccines will be enough to meet the whole country’s demand for the expanded immunization program and 30 percent of the demand for charged vaccination services.

The country also aims to become a high-value pharmaceutical production center in the ASEAN region, and receive transferred technologies for drug processing in order to manufacture at least 100 brand-name drugs, vaccines, biologicals and medicines which cannot be domestically manufactured.

As for drug manufacturing and management, it is targeted to ensure the monitoring of all drugs available on the market regarding their effects and safety as specified by the Ministry of Health. In addition, around 30 percent of domestically manufactured or imported generic drugs will obtain circulation registration certificates after being assessed as bioequivalent.

Regarding the digital transformation in the pharmaceutical sector, all information and data on drugs licensed for circulation that remain valid in Vietnam will be digitalized and updated onto the Pharmaceutical Industry Data Bank.

All drug manufacturers, wholesalers, importers-exporters, and retailers nationwide will be inter-connected, all level-4 online public services within the pharmaceutical sector will be provided constantly via the National Public Service Portal, and artificial intelligence tools will be applied to serve pharmaceutical activities.

Regarding the vision toward 2045, the pharmaceutical industry is expected to contribute over USD 20 billion to the country’s GDP, with the testing, drug distribution, clinical pharmacy, drug information and pharmacovigilance system reaching the level of the advanced countries.

Source: Vietnamlaw

About STELLAPHARM

Stellapharm is one of leading generics pharmaceutical companies and strong producer of anti-viral drugs in Vietnam. The company established in Vietnam in 2000; and focuses on both prescription drugs and non-prescription especially in cardiovascular diseases, antiviral drugs, anti-diabetics drugs, etc. and our products are now used by millions of patients in more than 50 countries worldwide.

The company is globally recognized for its quality through our facilities have been audited and approved by stringent authority like EMA, PMDA, Taiwan GMP, local WHO and others.

Additional information for this article: Stellapharm J.V. Co., Ltd. – Branch 1
A: 40 Tu Do Avenue, Vietnam – Singapore Industrial Park, An Phu Ward, Thuan An City, Binh Duong Province, Vietnam
T: +84 274 376 7470 | F: +84 274 376 7469 | E: info@stellapharm.com | W: www.stellapharm.com