return icon

Drug price hikes in US threaten the same in Vietnam?

Pfizer, Sanofi, and GlaxoSmithKline are reported to plan increasing drug prices in the US in 2020, triggering public concerns over a similar hike in Vietnam.


Most price increases are said to be announced later this week, but most will be less than 10 per cent and about half of them is said to be in the range of 4-6 per cent.

Pfizer, Sanofi, and GlaxoSmithKline are among the leaders in the Vietnamese pharmaceutical market with strong expansion plans in the country. In particular, Sanofi Vietnam has three factories in the country, supplying 80 per cent of its products locally.

The companies' price hikes in the US have triggered concerns over possible hikes in Vietnam, which could put a burden on local patients.

Vietnam still heavily relies on medicine imports with, on average, 55 per cent of drugs imported every year. Data from Vietnam’s Ministry of Health showed that the country’s drug imports last year increased by 8.8 per cent on-year to $3.7 billion, reflecting growing local demands. Taken together, the number of imported pharmaceuticals granted with marketing authorisation rose from 771 in 2016 to 758 in the 11 months of 2018.

According to the Vietnam Drug Administration (VDA), the pharmaceutical industry will continue to enjoy double-digit growth in the next five years, with the market scale reaching $7.7 billion in 2021. VIR

Bich Thuy

VN's pharmaceutical import turnover may reach $3 billion by end of year

VN's pharmaceutical import turnover may reach $3 billion by end of year

With the average pharmaceutical import turnover of $245 million per month, the figure of the whole year of 2019 may reach $3 billion, equaling 50 per cent of the whole scale of the market.  

Usage of Vietnam-made pharmaceuticals rising across the country: health ministry

Usage of Vietnam-made pharmaceuticals rising across the country: health ministry

Domestically-made drugs have met nearly half the demand of Vietnamese people in treatment and prevention of diseases, while the country has successfully produced 12 out of 13 types of vaccines used nationwide.


Experts warn Vietnamese banks of risks following US banks’ collapse

If bond issuers fall into insolvency, the price of bonds could fall to zero, creating a high risk for banks.

Hanoi to resume tourism services on West Lake

Hanoi may resume 12 tourism services on the West Lake including boat transportation, after six years of suspension.

Car imports from Thailand still hold largest market share in Vietnam

Thailand once again led the market in terms of value and the number of CBU (complete built unit) cars imported to Vietnam in February 2023.

Deputy PM holds bilateral meetings on sidelines of UN 2023 Water Conference

Deputy Prime Minister Tran Hong Ha had bilateral meetings with many foreign leaders on the sidelines of the UN 2023 Water Conference, which is taking place in New York from March 22-24.

Vietnam temporarily suspends import, circulation of 15 types of medicines

The Drug Administration of Vietnam (DAV) under the Ministry of Health (MoH) has just issued an official dispatch on suspending the import, distribution, circulation and use of 15 types of medicines produced by Arena Group S.A. of Romania.

EVN urged to negotiate with renewable energy investors to fix electricity price

The Ministry of Industry and Trade has urged the Electricity of Vietnam (EVN) and investors of transitional solar and wind plants to negotiate and agree to fix electricity prices before March 31.

Two arrested in 11kg drug transport from France to HCM City case

The Ho Chi Minh City Department of Public Security has just arrested two people involved in the case of transporting over 11 kilograms of narcotics and ecstasy from France to Tan Son Nhat International Airport, Vietnam.


Renowned Vietnamese artists collaborate on unique porcelain artworks


Dragon fruit export turnover reaches 47 million USD

Boxer beats Spainish rival to advance to World Championship’s semifinals

Vietnamese boxer Nguyen Thi Tam trounced Spanish rival Laura Fuertes 5-0 in the women's light flyweight category to advance to the semifinals of the IBA Women’s World Boxing Championships in New Delhi.

Ministry of Health warns of possible outbreaks of dangerous diseases

In its yesterday’s official dispatch to people's committees of provinces and cities on organizing the implementation of the 2023 epidemic prevention plan, the Ministry of Health warned of possible outbreaks of dangerous diseases.

Another enterprise issues bonds, real estate bonds increase in value

A real estate firm has successfully raised funds by issuing VND4.7 trillion worth of corporate bonds. Just days before, another real estate firm also successfully issued VND2.3 trillion worth of bonds.

Stock market violations to face stricter sanctions

The State Securities Commission (SSC) will review the Law on Securities and related decrees to complete the legal framework, and strengthen sanctions for violations to protect the legitimate rights and interests of investors.

Association calls for pilot implementation of battery-powered taxis

The Hanoi Taxi Association is urging for the pilot implementation of battery-powered cabs to reduce environmental impact and stay abreast of global trends.

Vietnam strives to eliminate malaria once and for all

The Ministry of Health has announced plans to review, amend, and supplement professional guidelines to ensure nationwide implementation and assess the National Strategy for Malaria Prevention, Control, and Elimination by 2020.