The Drug Administration of Vietnam, Ministry of Health has decided to impose an administrative fine of 25 million VND on CPC1 Hanoi Pharmaceutical Joint Stock Company for incorrectly declaring drug prices.
According to the decision, CPC1 Hanoi, headquartered in Ha Binh Phuong Industrial Cluster, Thuong Tin commune, Hanoi City, has committed acts of incorrectly declaring the selling price or not declaring the price to competent state agencies for 2 drugs including Timo Drop (Register: VD-35510-21) and Plastic Pipe Distilled Water (Register: 893110151624).
The violation is determined according to point a, clause 2, Article 12 of Decree 87/2024/ND-CP on sanctioning administrative violations in price management, amended and supplemented in Decree 114/2026/ND-CP.
The Drug Administration of Vietnam decided to fine CPC1 Hanoi 25 million VND. According to regulations, the fine for individuals in this case is 12.5 million VND; because the enterprise is an organization, the fine is applied double.
In addition to the fine, CPC1 Hanoi is forced to declare the prices already implemented related to the violation. The remedial period is 10 days from the date of receiving the decision, with all costs paid by the enterprise.
Businesses must also pay a fine of 25 million VND within 10 days. If late payment is made, in addition to the risk of enforcement according to regulations, businesses must pay an additional 0.05% per day calculated on the total amount of unpaid fines.
