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Last updated: Wednesday, April 24, 2019

 

Imexpharm Affirming Leadership

Posted: Thursday, March 15, 2018


With a 40-year (1977 - 2017) endeavour to carry out the investment strategy, placing quality as a core competitive advantage, Imexpharm Corporation has constantly grown both in capacity and scale and become a top five drug-maker in Vietnam. During four decades of dedication, Imexpharm has managed to turn out pharmaceutical products of superior quality standards, high therapeutic efficacy and safety for health, helping to improve community health.
 
Proudly leading the pharmaceutical industry

With the slogan “Commitment right from the beginning”, since its very inception, Imexpharm has boldly invested in modern production lines, focused on technological upgrading, and enhanced product quality to meet increasing demands of customers for better healthcare. With its intensive investment from the onset, after four decades, Imexpharm has risen to become a top pharmaceutical producer in Vietnam with the highest technological level, the most modern equipment, well-trained human resources, the strictest quality management process, and high-standard inputs to make safe and quality products for the market widely trusted by professionals. That is also the secret for Imexpharm to achieve steady business growth year by year, highlighted by a record high of over VND1 trillion of annual revenue for the first time in 2016. The corporation estimated to earn VND1,205 billion of revenue and VND160 billion of profit in 2017, up 18 per cent and 14 per cent over 2016, respectively. The firm also set aside a handsome sum for its Science and Technology Fund.

In September 2016, Imexpharm’s employees were delighted to receive the EU-GMP certificate issued by the Ministry of Health for three production lines in two factories in Binh Duong province - Cephalosporin injectable powder line, Cephalosporin oral medicine line and Penicillin injectable powder line. Imexpharm is one of a very few drug companies to have EU-GMP standard-certified injection lines, evidence the firm’s production level is leading the pharmaceutical industry in Vietnam.

Besides, Imexpharm is implementing two high-tech EU-GMP-standardised plants in Binh Duong and Ho Chi Minh City, costing VND650 billion, which are expected to be put into operation in early 2019 and early 2020, respectively. This strong investment has reaffirmed Imexpharm as one among a few pharmaceutical companies in pursuit of high quality products through a long-term sustainable development strategy. Products made by the two plants will serve the domestic hospital bidding channel (ETC) and will be exported to neighbouring countries as well as European, North African and South American nations since EU-GMP medicines in Vietnam are significantly cheaper than those made in other Asian nations like India, China and Japan. More importantly, export expansion will help Imexpharm reduce its dependence on the domestic market which is prone to price competition.

Imexpharm’s President Nguyen Quoc Dinh said, “Having its cost advantages and being one of a few pharmaceutical companies that meet EU-GMP standards, in medium and long terms, Imexpharm expects to develop the market on all three aspects: OTC, ETC and export, with our respective targets of 50 per cent, 40 per cent and 10 per cent by 2020. Imexpharm aims to have the most EU-GMP-certified plants in Vietnam by 2020.”

In 2018, Imexpharm expects an 18 - 20 per cent revenue growth and a 16 - 18 per cent profit growth before tax and provisions to the Science and Technology Fund, doubling the sector growth of 9 - 10 per cent in 2017 - 2021 as estimated by IMS Health.

Towards sustainable development

As a highly respected and sustainability-conscious health business, Imexpharm has consistently aligned its business goals with environmental and social goals. For example, the “energy conservation” project, launched two years ago with a series of solutions, has helped reduce power consumption per million units by 15.3 per cent. Waste and wastewater treatment is strictly handled; third-party gas emission and wastewater measurement is conducted twice a year to keep all indicators below permitted levels.

In addition to paying attention to production safety and customers' health safety, labour safety and environmental protection, Imexpharm also organises annual medical examination and treatment visits for those in need of medical care to affirm its corporate social responsibility with voluntary activities. For example, Imexpharm spent a total of VND4.3 billion on community development in 2016, with typical activities being free medical care delivery for thousands of poor and policy-beneficiary patients, and handing scholarships to hundreds of students nationwide.

During 40 years of construction and development, starting from the dedication to the pharmaceutical industry, loyalty to natural values and effort for public health and safety, Imexpharm has to date confirmed its brand position in the market and its impressive development has brought many well-respected awards and titles to the firm. Imexpharm is proud as one of the first pharmaceutical companies to apply Sustainability Reporting according to the Global Reporting Initiative (GRI) since 2013. The corporation has also won a plenty of annual sustainability reporting awards granted by the Hochiminh Stock Exchange (HOSE) like Presentation Award 2014, Completeness Award 2015 and Creditability Award 2016. Moreover, Imexpharm was also named among the 100 Most Sustainable Businesses in Vietnam in 2016 and 2017 by the Vietnam Business Council for Sustainable Development (VBCSD) under the Vietnam Chamber of Commerce and Industry (VCCI).

The hall of fame and the immortal labour spirit are deeply reflected in the business philosophy of “1,000 years later, lotus still blossoms as it is” will be a valuable treasure for Imexpharm to enter the new development period of 2018 - 2022 with a faster, more sustainable, more confident integration into the global playing field.

Thanh Tung









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