Seven foreign pharmaceutical companies forced to stop their business
Seven foreign pharmaceutical companies forced to stop their business
Seven foreign pharmaceutical firms’ business registrations and drug importing licenses were suspended for 12 months starting January 2015 due to violations in their drug registration dossiers, according to Nguyen Viet Hung, deputy director of the Drug Administration of Vietnam (DAV), reported by local newswires.
Accordingly, the DAV will suspend the reception of drug import documents as well as documents about patented medicines and generic drugs which had been announced or undersigned by the above firms.
The seven companies committing drug registration violations include six international companies and one domestic one. They are M/s Bio-Labs (Pvt) Ltd., Pakistan; Yash Pharma Laboratories Pvt. Ltd India; Austin Pharma Specialties Co., HongKong; Healthecare Pvt Ltd, India; Lien Hop Pharma Co., Ltd; Biodeal Pharmaceutical Pvt Ltd., India and Miracle Labs (P) Ltd. India.
According to the statistics of the DAV, there are currently many cases amounting to malpractice in foreign drug import activities, especially of Indian firms.
Previously, circulation licences of a series of Indian enterprises were revoked when they were found importing and distributing bad medicines, including Umedica Laboratories Pvt., Ltd.; Marksans Pharma Ltd.; Yeva Therapeutics Pvt., Ltd.; Cure Medicines (I) Pvt., Ltd.; Medley Pharmaceuticals Ltd.
Apart from them, the business licences of other Indian leading pharmaceutical companies such as Marksans Pharma Ldt, India and Medley Pharmaceutical Ltd have also been revoked, following the firms being fined on numerous occasions due to violations of drug quality regulations in a number of their products.
In August 2014, the DAV carried out an investigation at five leading domestic pharmaceutical companies: Central Pharmaceutical Company No1’s (CPC1) Ho Chi Minh City Branch, National Phytopharma Joint Stock Company, Danang Pharma Medical Equipment Joint Stock Company, Central Pharmaceutical Company No3 (CPC3) and Sohaco Trading and Pharmaceutical Group JSC (Sohaco).
At the end of the investigations, the above firms were imposed a fine of VND100 million (mỏe than $4,700) each for their failure to meet the drug standards registered in their firms’ circulation dossiers.
The administration has also stopped receiving and considering Sohaco’s, Phytopharma’s, CPC3’s and Dapharco’s dossiers requesting import licences for the next six months. The DAV has also issued a ban on CPC1 from importing medicines for one month.
