• Sat. Apr 13th, 2024

Revolutionizing Vietnam’s Pharmaceutical Industry: Expediting Access to Advanced Drugs with a New Reference Mechanism

BySamantha Jones

Apr 2, 2024
New drugs will soon be available to patients

The Ministry of Health has proposed a reference mechanism in the drug circulation registration process to expedite access to new and advanced drugs while maintaining safety standards. This initiative is part of the draft Law amending and supplementing the Pharmacy Law, which is expected to be reviewed and approved during the 8th National Assembly session in October 2024, taking effect in 2025.

The Ministry of Health believes that this amendment will pave the way for positive changes, removing barriers and facilitating rapid and sustainable access to medicine for the population. Additionally, it aims to attract medical tourism to Vietnam by enhancing the availability of advanced treatments.

Currently, Vietnamese patients face challenges in accessing new medicines compared to other countries, with only a fraction of newly introduced drugs available in the local market. This limited access hampers treatment options, particularly for severe conditions like cancer, where only a few approved therapies are available.

To address this issue, the Ministry of Health is proposing a reference mechanism that will expedite the approval process for new drugs without compromising safety standards. This model recommended by the World Health Organization is already in practice in several countries and has shown positive results in reducing approval times.

Furthermore, the draft law includes provisions to streamline administrative procedures and regulate the operations of domestic and foreign enterprises in the pharmaceutical sector. These measures aim to ensure stable drug supply, reasonable prices, and quality standards while incentivizing businesses to introduce innovative medications to Vietnam sooner.

Overall, the Ministry of Health’s proposed amendments seek to enhance access to advanced medicines, reduce treatment costs, and promote a robust pharmaceutical market in Vietnam.

By Samantha Jones

As a dedicated content writer at newszxcv.com, I bring a passion for storytelling and a keen eye for detail to every piece I create. With a background in journalism and a love for crafting engaging narratives, I strive to deliver informative and captivating content that resonates with our readers. Whether I'm covering breaking news or delving into in-depth features, my goal is to inform, entertain, and inspire through the power of words. Join me on this journey as we explore the ever-evolving world of news together.

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