12:09:02 PM | 4/30/2014
After successfully establishing a foothold in Vietnam through a joint venture with Euvipham in late 2013, Quebec-headquartered Valeant is strengthening its investment in Vietnam including capital increases, new jobs, staff training, upgrading the IT system, expanding the distribution network and so on.
Valeant through its joint venture is now expanding the production facilities to better serve the Vietnamese market. It aims to export products to Southeast Asia and acts as a key manufacturing centre. It also plays a vital part of Valeant’s strategy in the region. In Vietnam, the investor wants to sell more products to hospitals and retail pharmacies, with both prescription and over-the-counter products.
Valeant is also bringing many of its experts from all over the world here to help raise the Vietnam factory to global standards to ensure the business can export its products to other markets.
Currently the joint venture has 480 staff members. According Mr. Mike Pearson, CEO of Valeant, Vietnam with young and dynamic population and demographic trends has been identified as one of the most attractive pharmaceutical markets in Southeast Asia. Vietnam’s healthcare sector is forecast to continue to grow, and grow faster in Vietnam than many other countries.
The joint venture between Valeant and Euvipham was established in late 2013 when CEO of Valeant paid a visit to Vietnam in April 2013. At that time, Mr. Mike Person revealed that the leadership team were very impressed by the actual physical facility and by previous Euvipharm President Pham Trung Nghia who is now chairman of the board. There's also a very good relationship with the trustees and they share a future vision
Le Phuong
Vietnamese
