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New medications will be available to patients soon

Byeditor

Apr 2, 2024

The Ministry of Health is proposing to implement a reference mechanism in drug circulation registration to expedite access to new and advanced drugs while ensuring safety. This proposal is part of the draft Law that seeks to amend and supplement certain articles of the Pharmacy Law. The revised Pharmacy Law is expected to be reviewed and approved during the 8th National Assembly session in October 2024, with the regulations taking effect in 2025.

According to a representative of the Ministry of Health, the proposed changes in the bill aim to remove barriers and facilitate quicker and sustainable access to medicine for the people. This initiative also presents the opportunity to attract medical tourism to Vietnam, addressing the current challenges Vietnamese patients face in accessing new and advanced drugs compared to other countries.

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. The slow availability of advanced drugs in the country 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.

The Ministry of Health’s proposal to implement a reference mechanism aligns with global trends and has been successful in expediting the approval process for new drugs in other countries. By streamlining administrative procedures and ensuring clear regulations for domestic and foreign enterprises, the Ministry aims to create a stable pharmaceutical market in Vietnam that offers innovative drugs at reasonable prices and high quality.

By editor

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