Government urged to soon amend pharmacy law to address drug price management
(VOVWORLD) -Deputy Prime Minister Vu Duc Dam on Wednesday worked with the Ministry of Health, domestic and foreign associations and businesses on implementing the domestic pharmaceutical industry strategy. Participants suggested that the Government soon submit amendments to the pharmacy law according to the shortened process in 2023 to resolve difficulties in drug renewal and drug price management.
 Deputy Prime Minister Vu Duc Dam works with the Ministry of Health, domestic and foreign associations and businesses on implementing the domestic pharmaceutical industry strategy, September 21, 2022, Hanoi. Photo: VGP/Dinh Nam
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A report by the Drug Administration of Vietnam said the average growth rate of the pharmaceutical industry is currently 10-12%. Domestic drug production accounts for 46% of the total value of therapeutic drugs. Vietnam now has 228 pharmaceutical factories that meet GMP-WHO standards of good manufacturing practice and the factories mainly focus on producing drugs equivalent to invented drugs (generic drugs). Invented drugs account for only 3% of the total.
Participants urged the pharmaceutical industry to focus on attracting investment in production technology and improving product quality; raw material production; building centers for research on vaccines, biological products and technology transfer of vaccines; developing domestic sources of medicinal herbs; and improving pharmaceutical research and testing capacity.