European pharmaceuticals increase presence in Vietnam

With strong growth potential, the Vietnamese pharmaceutical market is attracting the attention of many European businesses.

Mr. Gregoris Charitonos, Chairman of the European Standard Medicines (ESM) Subcommittee, EuroCham, said that ESM member companies in Vietnam have demonstrated their resilience and adaptability in today's rapidly changing business context.

Specifically, a number of companies have successfully registered new products, ensuring a more diverse European standard drug portfolio for Vietnamese patients. Many ESM member companies have increased their presence in Vietnam, strengthened partnerships with local distributors, hospitals and pharmacy chains; and expanded investment in research and clinical trials.

In particular, ESM member companies have been actively implementing digital transformation and green growth initiatives in Vietnam, ensuring sustainable and effective operations.

Many companies are partnering with hospitals to integrate digital prescriptions and telehealth services, improving patient access to medicines. ESM member companies are investing in green energy solutions, carbon offset programs, and environmentally friendly manufacturing facilities to align with global sustainability standards.

Vietnam is considered an important pharmaceutical growth market in Southeast Asia. ESM member companies will continue to promote innovation, sustainability and patient-centric healthcare solutions in Vietnam to enhance access to patents for high-quality generic medicines.

ESM member companies are optimistic about the long-term potential in Vietnam. Key trends include the expansion of research and clinical trial capabilities in Vietnam, in line with global standards; the development of biologics and specialty drugs...

While Vietnam is not yet a major pharmaceutical manufacturing hub, interest in local partnerships and technology transfer is growing. Several companies are relocating or expanding operations to Vietnam due to its favorable investment climate, compared to markets with tighter price controls or regulatory barriers.

Vietnam has taken positive steps to improve its business environment, with significant progress in streamlining administrative procedures, digitizing regulatory processes and increasing transparency in pharmaceutical regulations. These efforts have facilitated faster market access for European medicines and improved the overall ease of doing business.

Mr. Gregoris Charitonos assessed that with a fast-growing economy and a strong focus on healthcare development, Vietnam is an increasingly attractive market for long-term pharmaceutical investment. Although competition is fierce, Vietnam's potential to become a leading pharmaceutical hub in Southeast Asia remains strong.

“Going forward, ESM member companies expect greater harmonization with international standards, faster approvals for new registrations and a more stable regulatory framework to sustain long-term sustainable growth,” Mr. Gregoris Charitonos expects.

Source: https://baodautu.vn/duoc-pham-chau-au-tang-hien-dien-tai-viet-nam-d250717.html