Novartis establishes its new legal entity in Vietnam
pharmafile | January 22, 2020 | News story | Research and Development | Novartis, Novartis Vietnam, oncology, pharma
Novartis has inaugurated its new legal entity in Vietnam, Novartis Vietnam Co Ltd, and has become one of the first multinational companies in the country to transform from a representative office to a foreign-invested enterprise importer.
During the inauguration ceremony, Novartis announced the arrival of the first import shipment of its medicines in the port of Ho Chi Minh City. Upon customs clearance, the imported medicines will be delivered to registered domestic wholesalers in compliance with local regulations.
Roeland Roelofs, President of Novartis Vietnam, said: “We strive to enhance the Vietnamese people’s access to high-quality, innovative medicines. In support of that, we invest in strengthening local research and development capabilities. And as a committed partner of the government, we are supporting healthcare system strengthening initiatives. Collectively these commitments contribute to the socio-economic progress of Vietnam.”
The value of Novartis in Vietnam reached more than $120 million in 2019, and as of this month 475 highly skilled Vietnamese associates are working at the Vietnamese branch.
Novartis has been operating in Vietnam since the 1950’s, through its predecessors Ciba-Geigy and Sandoz. In the modern era, Novartis’s office was established in 2008, and in February 2019 Novartis Vietnam Co Ltd was created.
Novartis has already been a leader in conducting clinical trials in the country across a wide range of disease areas, including dermatology, ophthalmology, oncology, respiratory, urology, neuroscience, and cardiology. To date, the company has conducted 43 clinical trials involving more than 900 patients, 500 healthcare professionals, at over 50 sites.
Conor Kavanagh
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