New medications will be available to patients soon

Boosting Access to Medicine: The Pharmacy Law Revision in Vietnam

The proposed changes to the Pharmacy Law by the Ministry of Health aim to make medicine more accessible to the Vietnamese people. This initiative is part of a larger effort to remove barriers and expedite access to new and advanced drugs, while ensuring safety. The revised Pharmacy Law is expected to be reviewed and approved during the 8th National Assembly session in October 2024, with regulations taking effect in 2025.

According to a representative of the Ministry of Health, this proposal aims to streamline administrative procedures and create clear regulations for domestic and foreign enterprises. By doing so, it hopes to create a stable pharmaceutical market in Vietnam that offers innovative drugs at reasonable prices and high quality.

Data from IQVIA MIDAS in the first quarter of 2022 revealed that only 9% of new drugs introduced globally in the past decade were present in Vietnam. This slow availability of advanced drugs limits treatment options for patients, particularly those with serious illnesses like cancer. This often leads patients to seek treatment abroad, resulting in significant financial burdens.

By implementing a reference mechanism, the Ministry of Health aims to attract medical tourism to Vietnam and address current challenges faced by Vietnamese patients when accessing new and advanced drugs compared to other countries. The ministry believes that this approach will lead to quicker and sustainable access to medicine for people while maintaining safety standards.

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