Drug prices to soar this month
By Hien Nguyen - The Saigon Times Daily
HCMC – The cost of imported drugs soared early this month after many pharmaceutical manufacturers increased their prices.
Nguyen Thi Phuong, a pharmacy owner on Nguyen Thai Binh Street in District 1, told the Daily that her shop had already received price increases from pharmaceutical companies and distributors.
According to Phuong, about 17 drugs, manufactured by Merck, increased in price by 3% to 5%. These drugs are distributed by Zuellig Pharma.
National Day Pharmaceutical Joint Stock Company (Nadyphar) also increased prices by 5% to 9%. In addition, 28 imported drugs distributed by Vimedimex Pharma Joint Stock Company have increased in price from 3% to 12%.
Although drug prices are on the rise, the National Drug Administration said the market remained stable.
Truong Quoc Cuong, head of the Vietnam Drug Administration said, “The recent Vietnam Pharmaceutical Companies Association’s price report proved that prices still remain stable.”
The association surveyed 11,817 locally made drugs, and found that 129 kinds had increased in price at a rate of 1% to 5.2%. According to the report, only 22 drug varieties soared in price, which Cuong said “is an acceptable number.”
He added that as drugs were a commodity they were subject to price adjustments under the economic rule. As such, increased prices are normal.
“However, when increasing price, enterprises must ask for permission from the National Drug Administration. If they increase price without permission, we will check and can revoke their import visa,” he said.
The administration has examined drug prices and trading activities in Hanoi and HCMC since mid-March. However, results are yet to be publicized as the inspection is still in progress.