The local pharmaceutical market registers robust performance in the wake of growing M&A deals and outsiders’ new ventures into drug store chain launching. The revenue of the Vietnamese pharmaceutical market was $5.2 billion last year The recent extraordinary general shareholders’ meeting of Medipharco JSC (MTP) have approved the plan to merge with the joint venture Medipharco Tenamyd BR SRL (MTBR) in an attempt to restructure the company’s operations, augment the two companies’ existing brands, and ensure unity in corporate governance. The merger will take place via the stock swap method. Accordingly, MTP will issue additional shares to swap for MTBR stock from other shareholders at a 1:1 ratio. After the merger, Medipharco will inherit all of MTBR’s existing business lines. At the same time, Imexpharm JSC (IMP) is divesting from S.Pharm, while simultaneously buying into Agimexpharm (AGP). Accordingly, IMP will transfer its entire 1.25 … [Read more...] about Pharmaceutical market abuzz with activity
Pharmaceuticals
Pharmaceutical retail market heats up with big players
The Hanoitimes - According to Business Monitor International (BMI) data, revenue of the Vietnamese pharmaceutical market was US$5.2 billion last year and which is forecast to reach US$7.7 billion in 2021. That large retailers with strong financial strength and good governance joining the Vietnamese drugs distribution market is expected to drive the domestic pharmaceutical retail market forward in the coming time. VinFa last week officially launched its first pharmacy chain in Hanoi Conglomerate Vingroup last weekend officially entered the pharmaceutical retail segment, with a launch of its VinFa Pharmacy chain in Hanoi. VinFa’s first eleven stores have been opened at Vingroup’s VinMart + convenience stores in urban areas or apartment buildings. With a series of locations in trade centers and large-scale urban areas, VinFa promises to become a heavy-weight competitor of other big retailers, such as Mobile World Group, FPT Retail, Nguyen Kim Group and Digiworld … [Read more...] about Pharmaceutical retail market heats up with big players
Vingroup dives into pharmaceuticals with 11 VinFa stores
With a series of locations in trade centers and large-scale urban areas, VinFa promises to become a heavy-weight competitor of Mobible World and FPT Retail in the pharmaceutical industry. The VinFa stores will sell Vingroup's Oriental medicine products Last weekend, Vingroup has launched the chain of 11 VinFa pharmaceutical stores in Hanoi, located next to Vinmart supermarkets or convenience stores in urban areas and apartment buildings. The local pharmaceutical retail market is large but has yet to saw the emergence of a dominant player. Perhaps this inspired Vingroup to launch VinFa right after the appearance of An Khang Pharma of Mobile World and Long Chau Pharma of FPT Retail at the end of 2017 and early this year. Following the success of the Vinmec Medical System and realising its expansion plan in the healthcare sector, in April 2018 Vingroup announced entering the pharmaceutical industry with the establishment of VinFa JSC. The conglomerate also invested into VinFa … [Read more...] about Vingroup dives into pharmaceuticals with 11 VinFa stores
Nguyễn Kim Holdings bids to acquire Lâm Đồng Pharmaceutical
Viet Nam News HÀ NỘI — Nguyễn Kim Investment and Development Joint Stock Company (Nguyễn Kim Holdings) has submitted a public bid to purchase more than 2.1 million shares of Lâm Đồng Pharmaceutical Joint Stock Company, aiming to control the drug maker. This purchase would be equivalent to 27.14 per cent of total voting shares in Lâm Đồng Pharmaceutical. If the deal goes through, Nguyễn Kim will raise its stake to 51.14 per cent. The offering price is set at VNĐ23,500 (US$1) per share, which means Nguyễn Kim will pay about VNĐ50 billion. The transaction is expected to take place between November 30 and December 30. After the acquisition, Nguyễn Kim is committed to developing the core business of the pharmaceutical company, including oriental medicine production, commercial medicines, medical equipment and importing drugs, it said in the open bid letter. Lâm Đồng Pharmaceutical … [Read more...] about Nguyễn Kim Holdings bids to acquire Lâm Đồng Pharmaceutical
Pharmaceuticals stay on course for stronger year end
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 … [Read more...] about Pharmaceuticals stay on course for stronger year end