The pharmaceutical corporation, Merck Sharp & Dohme Corp. (widely known MSD), plans to establish a 100 percent foreign-invested company in Vietnam this year in anticipation of the country’s rising demand for medicines.

MSD Vice Chairman for the Asian region Craig Kelly unveiled the plan at an inauguration ceremony of the group’s new headquarters in Ho Chi Minh City on Jan. 20.

Kelly said Vietnam is a market of high potential as it has a fast growing economy, a large and young population and its demand for high-quality pharmaceutical products is rising.

“ Vietnam is an important market for MSD in the Asia-Pacific region,” he noted.

With its two representative offices in Ho Chi Minh City and Hanoi , MSD currently acts as the supplier of vaccines and medicines for cardiovascular disease, diabetes, infectious diseases, hepatitis, asthma, and cervical cancer.

“We will focus on enhancing our capacity on clinical research and producing new products for patients as well as the health community in Vietnam ,” the executive said.

MSD is the first company to introduce vaccine for cervical cancer in Vietnam . It presented more than 29,000 doses of anti-cervical cancer vaccine to the Central Hygiene and Epidemiology and Institute./.