Photo: Lao Dong

Pharmaceutical companies that raise drug prices unlawfully during Tet (Lunar New Year) holiday will be strictly punished, according to the Pharmaceutical Management Agency.

The agency has asked health departments nationwide to work with localities to inspect pharmaceutical companies from now through the holiday.

Some drug companies are cheating artificial scarcity in order to raise prices, according to the agency.

The Vietnam Pharmaceutical Manufacturing and Trading Association said its survey of 5,760 imported drugs this month showed that prices of 32 drugs had on average increased by 5.1 percent compared to the end of last year.

The prices of domestic drugs, as well as some imported dorugs in HCM City , have also increased.

For example, a box of Coversy1 5mg, which is used to treat high blood pressure, rose from 132,000 VND to 142,000 VND, and a box of Duxil, from 102,500 VND to 110,500 VND.

Pham Van Quan, deputy permanent chairman of the association, said the prices of some kinds of drugs were expected to increase next month due to the appreciation of the greenback and the euro.

Source: VNA