The goal is to tap into the country’s growing pharmaceutical market.
Japanese pharmaceutical company Eisai Co. Ltd. is has announced plans to establish a new pharma sales subsidiary in Ho Chi Minh City. The new Vietnam wing will be a wholly-owned subsidiary of the company, according to a press release.
Within ASEAN, the Vietnamese pharmaceutical market is surpassed only by those of Thailand and the Philippines. The market size reached $4,199m in 2019, and saw a compound annual growth rate (CAGR) of 10.6% over the preceeding five years. The company also expects this rate to grow to double digits in the near future.
In 1992, Eisai (Thailand) Marketing, a pharmaceutical sales subsidiary of Eisai, started business in Vietnam through a local agency. Eisai opened a representative office in Ho Chi Minh City in 1995, and mainly marketed the proton-pump inhibitor Pariet, muscle relaxant Myonal, peripheral neuropathy treatment Methycobal, and others.
In addition, regarding its global products in Vietnam, Eisai recently launched its antiepileptic drug Fycompa in October 2019, and obtained marketing approval for the anti-cancer agent Lenvima in June 2020. Eisai has also said to file for regulatory approval for the in-house developed anti-cancer agent Halaven. With the establishment of Eisai Vietnam, the company aims to enhance its own drug sales system in Vietnam, deliver innovative new drugs to more patients in Vietnam, and contribute to improving the benefits of patients and their families, the press release added
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