Imexpharm Ready for Breakthrough with Sustainability Strategy

3:38:03 PM | 11/21/2018

Imexpharm has undergone a development journey of 41 years (1977-2018), enjoying a lot of sweet fruits but also suffering pains on the market and with the pharmaceutical industry of Vietnam. On this journey, in the last 20 years, Imexpharm has persisted with investment goals for high quality and strived for sustainable development. This is also the reason why this "leading bird" of the pharmaceutical industry of Vietnam has always been very proactive in investment in technological improvement and applying advanced applications and standards into Vietnam.

Quality is the root
Imexpharm currently has more than 200 licenced and circulated products, of which three categories of special remedies (fever reducer, analgesia, antibiotics) account for 80 per cent of the value in recent years. With ongoing business growth, the corporation reached the milestone of VND1,000 billion of revenue for the first time in 2016. Especially in 2017, Imexpharm’s revenue and profit grew 16 per cent over the previous year. In 2018, it expects to earn VND190 billion of profit and sets a target growth of 10 - 15 per cent for 2019.

To extend the success and become an ever-lasting brand, Imexpharm has chosen to follow the sustainable development path and lift up humanistic philosophy “Lotus still blooms 1,000 years later.” In order to create a solid foundation for this strategic direction, besides production and business expansion efforts and seek new potential markets, Imexpharm has also focused on improving product quality and considers this a central, decisive factor to corporate competitiveness and sustainability. Mr Nguyen Quoc Dinh, Chairman of Imexpharm Corporation, said, “Defining that pharmaceutical production and business is very special, directly related to human health and life, Imexpharm is always serious in every production stage, adopting high standard applications, strict quality control and stringent supplier selection to make best, safest products, comparable to European medicines, for the market. We cannot accept to place public health behind profit or sacrifice quality for low price.”

To continuously raise product quality, Imexpharm is boldly building and investing in required conditions, especially technology and machinery systems. Accordingly, Imexpharm has continuously made strong investment in modern production lines and advanced technologies for its EU-GMP-standard factories and invested in three modern governance tools: ERP, BSC and DMS. By late 2019 or early 2020, Imexpharm will have four EU-GMP factories which are expected to have an important contribution to revenue structure and lead extraordinary growth to Imexpharm in the medium and long term. This is also a solid “stepping stone” for Imexpharm to build up its prestige and brand value, constantly improve product quality to meet rising healthcare needs of customers.

Upholding humanity
In addition to the continuous efforts for higher product quality for community health, throughout the sustainable development strategy and in all the operations, Imexpharm has closely integrated its business targets with environmental protection and social security. Particularly in production, Imexpharm uses high-quality environment-friendly raw materials mainly imported from Europe and the United States; prioritises in using the world’s advanced fermentation technology to make antibiotics safe to health and environment. Besides, Imexpharm launched the Power Saving Project: Monitoring the implementation of energy efficiency targets in every factory; invest in new energy-saving equipment and machinery; invest in the environmental wastewater treatment system; hire third parties to treat all hazardous wastes in operation and measure environmental indicators every two years and make full reports to the local Department of Natural Resources and Environment.

While paying attention to production safety, human health safety, labour safety and environmental protection, Imexpharm always upholds the spirit of compassion and humanity, takes the lead in carrying out the corporate social responsibility to raise the life quality of people. Accordingly, Imexpharm spends over VND3.7 billion annually on social welfare activities like developing study encouragement funds, providing free medical check-up and treatment for people in disadvantaged localities; building houses for Vietnamese heroic mothers; funding sports competitions for health workers; coordinating in business start-ups in localities; and contributing to local employment, economic stability and social security. “With what Imexpharm has done and its business principle 'Lotus still blooms 1,000 years later,' we believe that, no matter how fierce the market is, only by persisting in sustainable development goals, building the harmonious and unique business culture, Imexpharm's position and brand will be constantly raised in the Vietnamese pharmaceutical industry and Imexpharm will become a leading manufacturer of generics in the country,” Chairman Nguyen Quoc Dinh stressed.

Thanh Tung