Hefty fine for violating medicine price regulations

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SaiGon GP English - 34 month(s) ago 7 readings

Hefty fine for violating medicine price regulations

The Drug Administration of Vietnam has announced that effective June 2012 relevant authorities will implement heavy fines on organisations breaching medicine price regulations that have been set by an inter-department circular of the Ministries of Health, Finance, Industry and Trade.

The Drug Administration of Vietnam publicise its decision to disapprove the registration and circulation of Turifaton, manufactured and registered by Ba Dinh Biotech Pharmaceutical Joint Stock Company (registration No.QLĐB-307-11)

To avoid conflicts in pricing, the Ministry of Health decided against approving any document forwarded by a medical trader if found to violate price regulations.

The new circular states that medical traders will from now on be fully responsible for the original price, listed price, and selling price of their products, henceforth monitored strictly by medical price management authorities.

Medicine manufacturers have been asked to register import prices of foreign medicines, original prices of domestic medicines, and wholesale and retail prices offered to the Drug Administration of Vietnam, the Ministry of Health and local health centres.

The Drug Administration of Vietnam has also publicised its decision to disapprove the registration and circulation of the following drugs in the market: Turifaton, manufactured and registered by Ba Dinh Biotech Pharmaceutical Joint Stock Company (registration No.QLĐB-307-11); Sedo-Euvi, manufactured and registered by Euvipharm Pharmaceutical Joint-Stock Company (registration No VD-11574-10); Kimer, manufactured by Incepta Pharmaceutical Limited, Bangladesh, and registered by Venus Pharma Joint Stock Company (registration No.VN-9021-09); Kimporim injection 40mg, manufactured by Myungmoon Pharmaceutical Limited, Korea, and registered by Venus Pharma Joint Stock Company (registration No.VN-9485-10).

The drug named Cendocold, lot no. 01/17/2011, expiry date February 17, 2014, registration no. VN 2625-07 and manufactured by Central Pharmaceutical Company No.3, meant for pain relief, fever as well as to treat gout and arthritis diseases, was recalled because it could not meet the solubility requirement for paracetamol active ingredient.

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