Industry Trend Analysis - Business Environment Limits Multinational Drugmaker' Prospects - JUNE 2017
BMI View : Vietnam ' s business environment will remain highly challenging for innovative pharmaceutical firms. The country's designation as a ' Watch List' country in PhRMA's 2017 submission highlights low levels of data protection and delays in the drug approval process as ongoing concerns for multinational drugmakers. Key issues highlighted in the submission are consistent with previous years, with many of the shortcomings previously raised still unaddressed.
The regulatory environment in Vietnam will remain challenging for multinational pharmaceutical firms. In the Pharmaceutical Research and Manufacturers of America (PhRMA) Special 301 submission for 2017, Vietnam maintained its position on the 'Watch List' - a status shared by Australia and South Korea. This perpetuates the status accorded to Vietnam since 2015, with many of the shortcomings characteristic of an emerging market such as low levels of intellectual property protection and discriminatory market access.
Lack Of Transparency Surrounding New Law