Indian generic drugmakers have a huge potential for growth in Vietnam, says Fitch Solutions Country Risk and Industry Research in its latest report. Vietnam’s domestic pharmaceutical industry is currently able to meet just 53 per cent of the country’s demand. And this is an excellent opportunity for Indian drugmakers as it is among the leading global producers of generic medicines.
India is Vietnam’s third largest supplier of pharmaceutical products, with an export turnover of US$198 million in the first nine months of 2020. It also provides raw pharmaceutical materials and generic medicines for the Vietnamese market. Fitch Solutions said the medicines and raw materials imported from India are reasonably priced and meet the diverse needs of Vietnamese.