Pharmaceutical firms expand business in Vietnam

Vietnam is emerging as one of the fastest growing economies in the Asia – Pacific region. Like in other emerging markets, the financial burden of falling ill in Vietnam is becoming larger as incomes increase and lifestyles change.

There are vast unmet medical needs in Vietnam, and with it come many challenges in terms of access, affordability and healthcare infrastructure. In that situation, more and more internal as well as external pharmaceutical firms are boosting their business in the market.

Satisfying the unmet healthcare needs

Satisfying vast unmet medical needs by the pharmaceutical firms receives warm responses from the patients. For example, research shows that about 3,000 Vietnamese women die of the cervical cancer annually, while Stephen Walter, Managing Director of MSD in Vietnam assumed that about 10% of Vietnamese women possibly have exposure to HPV virus (the major cause of cervical cancer).

Cervical cancer protection consequently is one of the firm’s largest concerns. Moreover, MSD is known as the first company here to launch a vaccine for cervical cancer. Besides, Walter added, MSD’s vaccine can currently prevent 4 types of HPV viruses. In future, the company expects to launch the vaccine which is able to prevent 9 types of HPV viruses independently. With those innovations, the company has made great contribution to the treatment of this dangerous disease.

In addition to the HPV virus’ prevention, researching of vaccine against Rotavirus (the main one causing diarrhea in children) is also one of the company’s focus points. The company’s study shows that about 97% of Vietnamese under two-year-old children have exposure to Rotavirus and by the time they are five, 100% of them have been already suffered from the diarrhea once at least.

According to many pediatric doctors, researching and upgrading the effectiveness of the vaccine is really necessary since the living standard increasingly improved but the awareness of children’s hygiene remains poor. Therefore, an effective vaccine against Rotavirus will significantly reduce the risk of children’s diarrhea.

In parallel with those above, in 2011, MSD expect to launch several new brands in Vietnam, contributing to the advancement of treatment in diabetes, besides the firm’s areas already established areas, including respiratory, hypertension, and women’s health.

Corporate social responsibility activities as foundation of business

In recent years, many internal and external enterprises have focused on corporate social responsibility (CSR) activities. They believe that after attaining profit from business, giving back for the community’s benefit is the sustainable development strategy and their end target. This is especially true for those in the pharmaceutical sector.

In 2009, MSD organized numerous CSR activities which have greatly contributed to the community development. For instance, in collaboration with PATH (Program for Appropriate Technology in Health) and NIHE (National Institute of Hygiene and Epidemiology), MSD donated more than 29,000 doses of its cervical cancer vaccine and conducted the largest single study on the prevention of the potentially deadly Rotavirus in children across Vietnam.

Besides, understanding of the obstacles Vietnam Government is facing in upgrading healthcare services for its people, MSD is always willing to cooperate with them in remedying the issue.

“MSD would like to forge a constructive dialogue and engagement with the government and key local partners in our industry and the healthcare community to promote improved health outcomes for patients,” said Mr. Walter.

“These could take the form of comprehensive patient and disease management programs, public and consumer education programs, as well as training and development to upgrade local medical and healthcare capabilities.”

The company recently launched its new office besides expressing the commitment that they will do long-term business and sustainably develop in Vietnam. The company will promote access to affordable, quality healthcare. It will thus create more opportunities for the people to access the high quality medication and treatment, Mr. Walter said. – Vietnamnet

Tags: Vietnam pharmaceutical market