Forecasts for pharma accept systemic risks

While the local pharma industry is facing similar challenges to other fields due to current geopolitical waves, businesses are actively seeking new answers to ensure targets are met.

- By Bich Thuy

Many pharma businesses say the current geopolitical situation has a significant impact on their plans

According to a survey conducted by the Private Economic Development Research Board of the Advisory Council on Administrative Procedure Reform in late March, the impact of the conflict in the Middle East has transformed into real pressure on production and business activities.

Two-thirds of businesses assessed the conflict as having a significant or very significant impact; 55.3 per cent reported the impact. The sectors most strongly affected are directly related to supply chains, such as fuel, transportation, import and export, industrial production, and international supply chains, the survey said.

The Drug Administration of Vietnam (DAV) under the Ministry of Health admitted that the complex and tense international conflict in the Middle East poses a risk to the supply chain of medicines, pharmaceutical raw materials, and international transportation and trade activities.

In response, in late March, the DAV sent a document to provincial and municipal health departments, hospitals, and other relevant establishments, asking them to review the inventory of medicines and pharmaceutical ingredients; assess the supply capacity of suppliers and develop appropriate stockpiling plans, especially for essential medicines for emergency care and treatment, in order to ensure a stable supply of medicines and prevent shortages.