New drugs will soon be available to patients

Streamlining Drug Approval Processes: The Ministry of Health’s Proposed Amendments to Vietnam’s Pharmacy Law

The Ministry of Health is proposing a new reference mechanism for drug circulation registration to speed up access to advanced treatments while maintaining safety standards. This initiative is expected to be part of the draft Law amending and supplementing the Pharmacy Law, which will be reviewed and approved during the 8th National Assembly session in October 2024 and take effect in 2025.

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

Currently, Vietnamese patients face challenges in accessing new medicines compared to other countries, with only a small fraction of newly introduced drugs available locally. This limited access severely 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 to streamline drug approval processes without compromising safety standards. This model has already been successful in several countries and has shown positive results in reducing approval times.

The draft law also 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 earlier into Vietnam’s market.

In summary, 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 that can compete globally.

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