Vietnam Aims for Collaborative Partnership with Pfizer Inc. to Enhance Medicine and Vaccine Supply, and Encourage Investment in Drug Production and Medical Biological Products
Storyline
- Vietnam's economic progress attracts Pfizer, leading to a partnership with Medochemie in the country's growing market.
- Pfizer shares advanced technology with Medochemie, enabling the production of around a dozen Pfizer medications, including sterile injectables.
- Medochemie, a Cyprus-based pharmaceutical company with established manufacturing sites in Vietnam, collaborates with Pfizer to tap into the country's expanding market.
- Through the alliance, Medochemie gains the capability to manufacture Pfizer medications, including sterile injectables, leveraging Vietnam's economic transformation.
Vietnam wishes to cooperate with Pfizer Inc., one of the world’s leading pharmaceutical and biotechnology companies, in medicine and vaccine supply, and hops it will invest in production of drugs, vaccines and medical biological products in the Southeast Asian nation in the near future, Deputy Minister of Health Do Xuan has said.
Introduction
Vietnam, a country that has made significant strides in its economic development, is now aiming for a collaborative partnership with Pfizer Inc., a renowned global pharmaceutical and biotechnology company. The objective is to enhance the supply of medicines and vaccines while encouraging Pfizer to invest in the production of drugs, vaccines, and medical biological products within the Southeast Asian nation.
1. Pfizer Teams Up with Medochemie to Expand Drug Manufacturing in Thriving Vietnamese Market.
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Medochemie, located in Cyprus, has three production locations in Vietnam and is acquiring Pfizer technology that will allow it to manufacture approximately a dozen Pfizer medications, including sterile injectables.
Vietnam's economy has progressed from one of the world’s lowest to one that is comfortably middle-income. Pfizer has taken notice and forged a collaboration to produce several of its products in the fast expanding Asian market.
The firm has reached an agreement with Medochemie, a Cyprus-based pharmaceutical company with three manufacturing facilities in Vietnam. Pfizer will transfer technology to Medochemie that will allow it to produce 11 Pfizer pharmaceuticals, including four sterile injectables and seven tablets.
Medochemie operates three factories in Vietnam:
- one for tablets and capsules,
- another for gels and creams,
- And a third for sterile injectables.
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Pfizer did not disclose the amount of money that will be invested in the business, but the Vietnam Economic Times claims that Medochemie has committed $100 Mn in Vietnam to grow its locations. They have a total area of around 63,500 square metres and manufacture approximately 100 pharmaceuticals in the nation.
2. Pfizer Joins the Race, Enters the Country Following Competitors.
- In 2016, Sanofi struck a deal with VinaPharm to invest $75 Mn in a Sanofi manufacturing facility in Ho Chi Minh City to make prescription, generic and over-the-counter drugs.
- The same year, Japan's Taisho paid $97 Mn for a minority stake in Vietnamese firm DHG Pharma.
- Abbott bought Vietnamese manufacturer Glommed for an undisclosed sum, adding two local manufacturing facilities.
According to Ken Research: As Vietnam continues to attract foreign investments in its pharmaceutical industry, Pfizer's collaboration with Medochemie marks another significant milestone. With a focus on expanding medicine and vaccine supply, as well as promoting local drug production and medical biological products, Vietnam demonstrates its commitment to advancing healthcare capabilities. The partnership between Pfizer and Medochemie aligns with the country's vision of becoming a thriving hub for pharmaceutical innovation and accessibility in the Southeast Asian region.
