Pharmaceutical Prices Increase 2-13 per cent in Jan-Feb

Pharmaceutical Prices Increase 2-13 per cent in Jan-Feb

Vietnam's pharmaceutical prices rose between 2 per cent and 13 per cent in the first two months of this year, accounting for 6 per cent of the total 10,000 price-increased products in the market.

The Health Ministry confirmed that medicine price fluctuations were as a result of the slow and asynchronous price management system.

There were many negative manifestations in hospitals and lack of close cooperation among ministries and branches, the ministry said.

Early this month, the government instructed the ministry to set out measures to stabilize pharmaceutical prices. Accordingly, the ministry proposed to examine all pharmaceutical traders and businesses nationwide to prevent illegal speculations that hike medicine prices.

The ministry is now waiting for the Government’s approval of a long-term strategy to combat price fluctuations. Accordingly, there will be big changes in the models organizing state management organizations and the medicine supply system.

Vietnam allowed circulation of more than 12,000 pharmaceutical products by December 2004, said Deputy Health Minister Le Ngoc Trong. Domestic pharmaceutical production gained revenues of VND4,700 billion (US$299.3 million) in 2004, up 18 per cent against 2003, meeting 44 per cent of medicine using demand.
Labour