Two fined by Drug Administration of Vietnam for trading violations.
The Drug Administration of Vietnam under the Ministry of Health (MoH) uncovered serious violations by two foreign pharmaceutical companies in trading and imposed fines totaling VND320 million ($14,800).
The two companies are the Austin Pharma Specialties Company, headquartered in Hong Kong, and the CSPC Innovation Pharmaceutical Company from China. They were fined after trading omeprazole and pantoprazole with ingredients lacking a clear origin.
Austin Pharma was fined VND160 million ($7,400) and forced to return $30,625 in profits, while CSPC Innovation was also fined VND160 million ($7,400) and forced to return $29,750 in profits.
Imports of pharmaceutical products by the two companies have been suspended for 24 months because they were found to not meet the quality standards found within MoH regulations. Distribution of their products has also been suspended nationwide for 24 months.
- Austin Pharma Specialties Company
- CSPC Innovation Pharmaceutical