Vietnam's key policies on pharmaceutical industry-compiled by AMR Group Consultings (Marketing Research in Vietnam - Nghien cuu thi truong viet nam)

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Information about Vietnam's key policies on pharmaceutical industry-compiled by AMR Group...
Marketing

Published on March 13, 2014

Author: AMRGroup

Source: slideshare.net

Description

Pharmaceutical industry is a special industry that Vietnamese government is controlling strictly. Through well understanding how the the market is, and how consumers in Vietnam behave in specific situations, company forcasts market trends to identify and take its opportunity. VINAMR Marketing Research & Consultants provide world class lean, focused and reliable research through deep understanding of the brief, international quality field, professional data handling & decision-orientated analysis, action focused recommendation

Vietnam’s key policies on pharmaceutical industry Market overview: in 2012, total sales for the Vietnamese pharmaceutical industry were US$3 billion –, which is one-third of the recorded Indian market. This result is thanks to the increasing spending on pharmaceutical products per customer in Vietnam. Local producers play an important role in the success of market as they contribute to more than 50% of total sales of the pharmaceutical industry. However, most sales are from low priced generic medicine while high value medicine is coming from overseas. Pharmacy over view: In 2012, there were around 170 companies operating in the Vietnam pharmaceutical industry. Seventeen companies have foreign investment while some other producers are joint ventures with other companies. Some of the largest pharmaceutical producers in Vietnam are GlaxoSmithKline, Bristol Myer Squibb and Novartis. Current leaders in this industry are Savipharm and Imexpharm. Trends & developments: there are changes in Vietnam policy to encourage foreign participants. For example, the government allows 100% foreign invested company operating in the pharmaceutical industry. Firms are now also able to advertise and distribute products to Vietnamese customers through cooperation with local producers. However, the government is strict in registering pharmaceutical products in Vietnam. In order to distribute a foreign product, companies have to satisfy multiple requirements.  Foreign firms that are allowed to produce pharmaceutical products in Vietnam  Foreign firms that are allowed to distribute pharmaceutical products.  Some other requirements for pharmaceutical products:  Certification GMP quality at country of production.  Free Sale Certificate at country of production  Products at the same quality and quantity to other countries’ products  Consistency of products.  Certificate of analysis  Packaged products with Vietnamese note The AMR Group is an expert in Vietnam and its markets. The team is local but with international training and experience, operating to global standards. The AMR Group helps brands bloom in Vietnam through lean, focused & reliable marketing research from VINAMR Marketing Research & Consultants; marketing & brand strategy with AMR. VINAMR Marketing Research & Consultants provide world class lean, focused and reliable research through deep understanding of the brief, international quality field, professional data handling & decision- orientated analysis, action focused recommendation. AMR use insights from VINAMR Marketing Research & Consultants to deliver effective marketing & branding consulting, retail consulting & training, seminar & training: Brand War.

Compiled by AMR Group (Marketing Research in Vietnam-Nghien Cuu Thi Truong Viet Nam) on 2014 Source: Brands Vietnam For more articles, like us: www.amr.com.vn / www.vinamr.com.vn For enquiries, email us enquiry@amr.com.vn; research@vinamr.com.vn Connect us at:  LinkedIn: www.linkedin.com/company/vinamr---vietnam-marketing-research-&- consultants  Facebook: www.facebook.com/VINAMR.AMR  Wordpress: www.theamrgroup.wordpress.com/ This article is compiled by AMR Group to provide updated information on markets. AMR Group puts the best effort to obtain the most accurate and timely information available from various reliable sources. The article should be best considered a reference and indicative only. It is not an offer or advice for any actions related to any assets. AMR Group provides no warranty or undertaking of any kind in respect to the information and materials found with, or linked to the report and no obligation to update the information after the report was released. AMR Group does not bear any responsibility for the compiled information, or any consequences arising from its use.

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