Vietnam will force drugmakers to price transparency

The Vietnam Pharmaceutical Management Department has ordered all drug companies to post their import, wholesale and retail prices for public scrutiny on a web site by the end of March this year. The regulation is intended to empower patients to buy their medications at the best price, and encourage drug companies to keep their prices competitive and under review.

Truong Quoc Cuong, deputy head of the VPMD, was reported by the state-controlled Vietnam News Agency to be considering requests by pharmaceutical firms to raise their prices, although many have gone ahead already, with most increases in the 5%-10% range, over the past week. Becberin, a locally-produced antidiarretic, now costs 1,300 Vietnamese dong ($0.08) per container, up from 900 VND.

Of Vietnam's 175 drug companies, 58 that meet Good Manufacturing Practice standards have asked for permission to raise prices, citing spending on manufacturing facilities and the increased cost of imported raw materials. At present, Vietnamese pharmaceutical firms import more than 90% of their material.