Vietnam’s pharmaceutical market is opening up and foreign-invested enterprises are beginning to play a larger role in the country, now contributing over 60% of the total prescription drugs available in Vietnam. However, conducting business in Vietnam is difficult, especially in the pharmaceutical... Read More
On January 1, 2005, the 2 nd phase of Mainland China and Hong Kong’s Closer Economic Partnership Arrangement (CEPA) was launched. CEPA was established to remove barriers to trade between Hong Kong and the Mainland and to promote investment and cooperation. Under... Read More
Since the middle of December, China’s medicine retailing market has been fully open to foreign companies. Predictions that foreign medicine retailers would take this opportunity to pour investment into the country have proven to be overly optimistic. Low profit margins and a... Read More
To strengthen the supervision of pharmaceutical companies in China, the State Food and Drug Administration (SFDA) issued the Interim Provisions for Drug Safety Credit Classification on September 13, 2004. The new regulation will categorize domestic and foreign drug companies, including manufactures, distributors,... Read More
One of the largest industries in the Philippines is its pharmaceutical market, which earns an estimated P70 billion (US$1.2 billion) per year. The market is dominated by brand name medicines, comprising about 97% of the market. Thus, generic drugs make up only... Read More
Beginning June 7, 2004, the China National Development and Reform Commission (NDRC) implemented new price caps on over 400 domestic and foreign made pharmaceuticals, reducing drug prices by as much as 50%. This is the government’s latest effort to reduce irregularities in... Read More
In June of this year, the Korean government released a plan to develop an industrial zone in Wonju, Korea, specializing in medical equipment. Even though the project does not officially begin until 2005, Wonju has already established a medical equipment development center,... Read More
In an effort to ensure that Singaporeans receive quality healthcare at reasonable prices, Singapore’s Ministry of Health introduced the Medical Service Package (MSP) on July 2, 2004. The MSP, which took effect in all public institutions on July 5, 2004, will allow... Read More
In a move to address antibiotic abuse in China, the Ministry of Health and the State Food and Drug Administration (SDFA) issued a new regulation, effective July 1, 2004, limiting the purchase of antibiotics to patients who have received a doctor’s prescription.... Read More
In order to attract more foreign companies to collaborate with domestic companies and develop advanced technologies in Taiwan, the Taiwanese government has launched several programs to lure foreign investors into the country’s biotechnology sector. Additionally, the Taiwanese government also hopes to expand... Read More