Retail prices of drugs, both local and imported, have risen by up to 22 percent in HCM City, with producers and importers blaming it on the dong’s depreciation and higher input costs.

A medical representative working for Zuellig Pharma told Tuoi Tre that the prices of five medicines imported from German firm Bayer rose by 11-22 percent on March 21.

The prices of several others have increased by 6-13 percent.

Tien Tien Co Ltd, the exclusive distributor of Plusssz in Vietnam, has put up prices of six kinds of medicines by 13 percent.

“Due to the stronger US dollar and euro against dong and increased transport, sales, and logistics expenses, Tien Tien has had to increase prices,” the company explained.

A company at the District 10 Pharmaceutical Center on To Hien Thanh Street, Ho Chi Minh City, said the prices of 90 percent of domestic and foreign drugs sold at the Center have increased by 5-7 percent this month.

However, almost all wholesalers have only informed customers verbally and did not announce it officially.

A source told Tuoi Tre that the Central Pharmaceutical Company II’s Pharmaceutical Distribution Center, also in District 10, has reported to relevant agencies that the retail prices of almost all locally-made and imported medicines have risen.

Most of the traders there blame the hike on the dong’s depreciation and higher costs of electricity, fuel, raw materials, and transport.

Health agency to stabilize prices

Dr Pham Khanh Phong Lan, deputy director of the City Department of Health, told Tuoi Tre that his agency is drafting a drug price-stabilization plan to submit to the People’s Committee for approval.

However, prices at hospital pharmacies remain stable since they select suppliers through bids, she said.

Meanwhile, the prices of medicine on the market have been affected by changes of the monetary market and increases in costs production of medicines in Vietnam as well as in the world.

The Department is also working with other relevant agencies to stabilize medicine prices and prevent unreasonable rises and shortages, she said.

Besides combating speculation in drugs and price hikes, the government should also ensure sufficient stocks of medicines, particularly specialty drugs, to supply hospitals and thus stabilize supply and prices.

Source: Tuoi Tre