Workers manufacture tablets at a pharmaceutical factory in Long An Province. — VNA/VNS Photo

HÀ NỘI — A draft version of the revised Pharmacy Law will be presented to the ongoing National Assembly session to enhance public access to new medicines.

Only nine per cent of new medicines have been introduced in Việt Nam over the past decade, far lower than that in other Asia-Pacific countries (20 per cent).

The Head of Legal and Integration Department at the Drug Administration of Vietnam, Chu Đăng Trung, explained that the version will focus on improving the efficiency of administrative processes.

Key changes include streamlining the approval procedures for drug circulation and introducing a reliance mechanism to facilitate pharmaceutical recognition.

Experts expect the legal proposal will enable Vietnamese patients to access new medicines as quickly as or faster than their regional counterparts.

Countries like Singapore and the Philippines have adopted similar mechanisms to allow new medicines to reach their markets within four and ten months, while Việt Nam currently faces delays of up to two years.

The draft version is also expected to incentivise pharmaceutical companies to prioritise the Vietnamese market for new drug launches. Additionally, it will help prevent supply shortages caused by bottlenecks in drug registration.

Pharmaceutical specialist Trung also notes that the version aims to promote the development of Việt Nam’s pharmaceutical industry, focusing on research and technological advancement in innovative drugs, vaccines, and high-tech pharmaceuticals.

It will grant foreign-invested enterprises (FIEs) greater freedom to directly distribute their medicines in Việt Nam, a move aimed at attracting more investment in the sector.

Experts have urged the Ministry of Health to implement a plan to ensure no legal gaps occur after December 31, 2024, when current drug circulation registrations expire.

Việt Nam aims to position itself as a regional hub for high-value pharmaceutical production, with goals to reach USD$1 billion in pharmaceutical exports by 2030 and $20 billion by 2045. — VNS