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You are here: Home / Corporate / Pharmaceuticals stay on course for stronger year end

Pharmaceuticals stay on course for stronger year end

November 2, 2018 by vir Leave a Comment

Not all Vietnamese drug companies target overseas markets, but those that scrap the foreign ownership limit tend to go international more often than not Imexpharm Pharmaceutical JSC (IMP), one of Vietnam’s four biggest pharmaceutical firms, is to open the Vinh Loc high-tech antibiotic plant at a cost of VND180 billion ($7.83 million) by the years’ end, while inaugurating the VND370 billion ($16.09 million) Binh Duong high-tech pharmaceutical plant in late 2019. “We plan to complete the portfolio of EU-GMP-standardised products to increase the contribution of ethical drugs to the total revenue, while locating partners to boost exports,” Nguyen Quoc Dinh, chairman of IMP’s board of directors, told VIR. “To ease over-the-counter (OTC) pressures, we aim to increase the contribution of ethical drugs to 40 per cent by 2020, while decreasing that of OTC revenue to 50 per cent, while reserving 10 per cent for exports,” he added. IMP currently has three foreign shareholders: Balestrand Limited (6.09 per cent), Franklin Templeton Investment Funds – Templeton Frontier Markets Fund (8.49 per cent), and Kwe Beteiligungen AG (8.23 per cent). However, not all leading Vietnamese drugmakers target the international market. Traphaco (TRA), the second-largest publicly-traded drugmaker in the country, is a typical example. The firm aims to become the No.1 drug producer in Vietnam by 2020, with market capitalisation of VND10 trillion ($434.8 million), revenue of VND4 trillion ($173.9 million), and a distribution network of 40 branches nationwide. “We are co-operating with partners to boost the distribution of imported pharmaceuticals. We do not… [Read full story]




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