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Market Report, "Vietnam Pharmaceuticals & Healthcare Report Q2 2011", published

New Healthcare research report from Business Monitor International is now available from Fast Market Research

 
PRLog - Apr. 29, 2011 - Vietnam's pharmaceutical market was calculated to have been worth US$1.71bn in 2010 at consumer  prices. Over the forecast period to 2015, BMI expects pharmaceutical consumption to reach US$3.56bn,  equating to a compound annual growth rate (CAGR) of 14.6% in local currency, or 15.8% in US dollars.  According to the Drug Administration of Vietnam (DAV), drug expenditure in the country will top  US$2bn by 2012. Inflation, however, will be a major factor in these high nominal market growth rates.  BMI expects general inflation to spike at 11.5% in 2011, while higher production costs and the lack of a  strict government policy on pharmaceutical price controls make it likely that retail pharmaceutical prices  in Vietnam will rise over the forecast period.  In our latest Pharmaceuticals & Healthcare Business Environment Ratings (BER) matrix for the Asia  Pacific, Vietnam again remains ranked 13th of 17 key regional markets. Nevertheless, we expect Vietnam  to consolidate its place in the matrix as the country's market matures and as its economy strengthens.  Currently, though, the country remains a risky investment ground, partly due to its challenging rewards  profile - dragged down by low per-capita consumption and similar factors - but also partly due to the  risky operating environment, including the prevalence of counterfeiting and the lax application of  intellectual property rights (IPRs).  For example, in January 2011, domestic drugmaker Nanogen Biopharmaceutical launched Pegnano  (peginterferon alfa-2a) in Vietnam for the treatment of hepatitis C, which reportedly infringes on the IPRs  for Swiss Roche's Pegasys (peginterferon alfa-2a), specifically patent No. 2611. While Roche has  demanded the de-registration of Pegnano, as the Pegasys patent is effective until 2017, revisions of the  patent legislation stipulates that the government can ban or limit the application of IPRs in certain cases.  The DAV originally denied product registration to Nanogen's Pegnano in September 2010, but the drug  has been subsequently approved by Deputy Health Minister Cao Minh Quang.  Nevertheless, our positive longer-term outlook for Vietnam appears to be shared by a number of foreign  players. For example, in early 2011, global major Merck Sharp & Dohme (MSD) announced that it  would establish a 100% foreign-owned company in Vietnam, which will be charged with selling highmargin  patented drugs, such as the cervical cancer vaccine Gardasil. MSD is also increasingly involved  in providing corporate social responsibility (CSR) activities, giving part of their profits to the  development of community. China's largest pharmaceutical company, Sinopharm, has revealed that  construction of its first two manufacturing plants in Vietnam will start in March 2011. The 'medical  disposable' plant has investment capital of US$25mn and will produce 30mn packs annually. Completion  of construction is expected in 2013. Sinopharm's more advanced vaccine facility has more than double the  investment capital, but is not expected to start manufacturing until 2015.

For more information or to purchase this report, go to:
-  http://www.fastmr.com/prod/149703_vietnam_pharmaceuticals...

About Business Monitor International

Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets.  BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports.  Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports.  View more research from Business Monitor International at http://www.fastmr.com/catalog/publishers.aspx?pubid=1010

About Fast Market Research

Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.

For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

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Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.

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Industry:Health, Medical, Research
Tags:pharmaceutical, drug, pegnano, iprs, investment, patent, pegasys, vaccine, roche, dav
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