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Medicine prices in Vietnam in lower range in Asia-Pacific: conference

Medicine prices in Vietnam are in the lower range compared to those in other countries in the region, heard the Asian Federation for Pharmaceutical Sciences (AFPS) Conference 2023 that is taking place in Hanoi from November 8-10.
Medicine prices in Vietnam in lower range in Asia-Pacific: conference ảnh 1Illustrative image (Photo: VNA)

Hanoi (VNA)ꦚ – Medicine pricesin Vietnam are in the lower range compared to those in other countries in theregion, heard the Asian Federation for Pharmaceutical Sciences (AFPS)Conference 2023 that is taking place in Hanoi from November 8-10.

Themed “Collaboration for Breakthroughs inPharmaceutical Sciences", the event is co-hosted by the HanoiUniversity of Pharmacy, AFPS, and the Ho Chi Minh University of Medicine andPharmacy and held biennially among AFPS’s 24 member countries. As the largest pharmaceutical conference inthe Asia-Pacific, the event has attracted over 500 delegates in-person,including around 200 from 26 countries and territories, and 350 rapporteursdelivering oral and poster presentations.
Medicine prices in Vietnam in lower range in Asia-Pacific: conference ảnh 2Vice Health Minister Nguyen Thi Lien Huong speaks at the event (Photo: VNA)
In her opening speech, Vice Health Minister Nguyen Thi Lien Huong cited a report on the Vietnamese pharmaceuticalindustry as saying that as of 2022, the total value of the domestic pharmaceuticalmarket had reached nearly 7 billion USD, with an annual growth rate of10.6%. The average spending on medicines per capita hit 75 USD. In Vietnam, there are 228 pharmaceuticalcompanies that meet Good Manufacturing Practice (GMP) standards, including 17facilities that have been certified with EU-GMP, which is equivalent to EU-GMPand PIC/S-GMP. The industry is currently seeing 90% ofraw materials being imported and focusing on producing generic drugs and exportingseveral products, she said. To sustainably develop the industry, she saidthe Government has approved a national strategy till 2030 with a vision to2045. The conference and sideline events provide aplatform to share knowledge and experience among scientists, medical staff,pharmaceutical manufacturers and policymakers, toward a sustainable healthcaresystem. Participants are discussing topics in specific areas, including clinical and social pharmacy, pharmaceutical management, pharmacologyand biomedical science, drug research and development, medicine formulation anddistribution; natural compounds and traditional medicine; and pharmaceutical, biopharmaceuticaland biosimilar analysis./.
VNA

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