The Vietnamese Government and the Health Ministry (MOH) always seek to encourage companies from the Republic of Korea (RoK) to introduce new quality products and make investments in Vietnam’s food and pharmaceuticals industries, Minister of Health Nguyen Thi Kim Tien has said. Minister of Health Nguyen Thi Kim Tien (L) at the working session - Photo: moh.gov.vn The Vietnamese official made the remarks at a May 16 working session in Hanoi with a delegation of the RoK Ministry of Food and Drug Safety (MFDS), led by its Minister, Ryu Young-jin, during which the two sides signed a memorandum of understanding (MoU) on bilateral cooperation in food safety, pharmaceuticals, cosmetics, and medical equipment. She stated that Vietnam and the RoK have jointly developed projects to strengthen their collaboration capabilities in the area of food safety. Vietnam has imported many famous RoK foods, whilst exporting a lot of its food products to the RoK. Concerning the field of … [Read more...] about Vietnam encourages RoK firms to invest in food and pharmaceuticals
Pharmaceuticals
Vingroup enters pharmaceutical industry
Conglomerate Vingroup has announced its entry into the pharmaceutical industry with its Vinfa brand. Following the success of the Vinmec Medical System, Vinfa will produce and sell good-quality Oriental and Western medicines to serve the domestic and export markets - Photo courtesy of Vingroup Along with pharmaceutical research, manufacturing, trading and export-import tasks, Vinfa will focus on the preservation, research and development of traditional Oriental medicines with origins in Vietnamese herbs. Theo VNA … [Read more...] about Vingroup enters pharmaceutical industry
Vingroup enters pharmaceutical industry with Vinfa
Conglomerate Vingroup has announced its entry into the pharmaceutical industry with its Vinfa brand. Along with pharmaceutical research, manufacturing, trading and export-import tasks, Vinfa will focus on the preservation, research and development of traditional Oriental medicines with origins in Vietnamese herbs. Following the success of the Vinmec Medical System and realising the expansion plan in the healthcare sector, Vingroup has established Vinfa Joint Stock Company in the pharmaceutical business, along with an investment to build Vinfa Drug Research and Production Centre in Gia Binh District, Bac Ninh Province. With a total investment of VND2.2 trillion (US$97.7 million), the project’s first phase will be built in an area of nearly 10ha following international standards, including research, production, logistics and support works, according to Phan Thu Huong, chairman of the Vinfa’s Board of Directors. With investment from Vingroup, the entire production process at … [Read more...] about Vingroup enters pharmaceutical industry with Vinfa
Electronics retailers to heat up pharmaceutical distribution segment
FPT and a number of electronics retailers are looking to expand their business by entering the pharmaceutical segment. FPT Retail is going for a larger share of the pharmaceutical market At FPT's annual general shareholders’ meeting this morning, Nguyen Bach Diep, chairman of FPT Retail, announced the plan to increase the Long Chau pharmaceutical chain to 400 units by 2022 with an annual average of 100 drugstore openings. Diep also said that Long Chau drugstores have higher average monthly sales than other stores in the market. Specifically, the stores generate $136,000 in sales revenue per month, while Pharmacity makes $11,000, Pharno $18,000, and An Khang $32,000. FPT Group set the 2018 sales target of VND16.020 trillion ($705.7 million), up 22 per cent on-year, with after-tax profit of VND377 billion, up 30 per cent on-year. FPT Retail also registered to list 40 million shares, equivalent to the company’s charter capital of VND400 billion ($17.6 million) at the … [Read more...] about Electronics retailers to heat up pharmaceutical distribution segment
Domestic pharmaceuticals stocks send good vibes to Abbott and Taisho
Since the beginning of the fourth quarter of 2018, pharmaceutical stocks have been forecast to thrive as bustling activities such as state divestitures, mergers and acquisitions (M&A), and notable investments from foreign healthcare firms are being announced left and right. Pharma stocks radiated positive signals to foreign investors Speaking about the investment and divestment activities between Vietnam-based pharmaceuticals and foreign investors, a representative of State Capital Investment Corporation (SCIC) disclosed that 34.71 per cent capital at Domesco Medical Import Export Joint Stock Corporation (HSX: DMC) is on its divestment agenda in April. US-based multinational healthcare firm Abbott has already expressed a wish to participate in the divestment. In late 2017, Latin American CFR International SpA, DMC’s former largest shareholder, transferred its entire ownership of 51.69 per cent to its parent company, Chile-based Abbott Laboratories Holdco … [Read more...] about Domestic pharmaceuticals stocks send good vibes to Abbott and Taisho