Over half of brand name drugs in Vietnam with expired intellectual property rights are still being sold at exorbitant prices while authorities fail to update their patent status and allow the production of cheaper generic versions of the drug.

Deputy Prime Minister Vu Duc Dam has called for joint efforts from the Ministry of Health and Vietnam Social Insurance (VSI) to tackle the issue and lower drug prices, a move which would benefit both medical patients and the state welfare program.

Brand-name “privilege”

Brand-name drugs are medicines that have been patented by pharmaceutical companies, providing them with protection from copycats.

According to international conventions honored by Vietnam, patents for brand-name drugs are valid for 20 years, after which generic versions, equivalent to a brand-name product in dosage, strength, route of administration, quality, performance, and intended use, are allowed to be produced by other pharmaceutical companies. Tiếp tục đọc “Vietnam determined to lower prices on brand name drugs” →