AstraZeneca Vietnam obtains license to import pharmaceuticals

pharmafile | December 19, 2019 | News story | Business Services AstraZeneca, AstraZeneca Vietnam, Vietnamese, vietnam 

AstraZeneca Vietnam Co. Ltd becomes only the second multinational company in the country to obtain a license to import pharmaceuticals.

This follows a decree in May 2017 by the Vietnamese government, which allowed foreign pharmaceutical corporations to join the medicine import sector.

This meant medication could be imported and managed directly by these companies to help stabilise supply, ensure quality and quicken distribution.

Nitin Kapoor, Chairman of AstraZeneca Vietnam, said: “The license allows us to take a significant step towards transforming our business model to provide patients faster access to innovative medicines and contribute to the development of the Vietnamese healthcare sector.”

Vietnam heavily relies on imports of medicines with, on average, 55 percent imported every year, mainly from China and India. In 2018, Vietnam spent $2.8 billion on imported medication while its exports only totalled $113 million.

However Vietnam is experiencing strong growth in its pharmaceutical industry, with its market worth being valued at $4.6 billion in 2017, according to Pacific Bridge Medical.

Conor Kavanagh

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