Imexpharm: Persistent Desire to Take the Lead

Being among the 5 largest pharmaceutical companies in Vietnam and the three largest pharmaceutical companies in the Mekong Delta, Imexpharm is no stranger to partners and customers. With a consistent mission of "Delivering highly effective solutions for public health", Imexpharm is always a pioneer in investing in advanced technology, the most modern infrastructure system and high quality human resources. To find out more information, Vietnam Business Forum had an interview with Mr. Nguyen Quoc Dinh, Chairman of Imexpharm Corporation. Thanh Tung reports.

In more than 40 years of development with the mission of delivering highly effective solutions to public health, what important milestones have you experienced so far?

In the early days after the South was completely liberated, pharmaceutical production and trading activities faced numerous difficulties and shortages. In that context, in order to serve the people when peace was restored, in 1977, the second tier pharmaceutical company was established in Cao Lanh city and this was also the precursor of Imexpharm. Initially, the pharmaceutical company effectively met the essential needs for medicines in Dong Thap province and neighboring provinces in the Mekong Delta.

By November 1999, Dong Thap Pharmaceutical Union Factory officially became affiliated to the Central Pharmaceutical Companies and changed its name to the Central Pharmaceutical Company No. 7. From this important milestone, the company began to develop vigorously and gradually expanded its network coverage to the Southeastern provinces and the Central Highlands.

In response to the call for equitization of State-owned enterprises, in 2001, Imexpharm Joint Stock Company was officially established from the Central Pharmaceutical Company No. 7 and was the first company of Pharmaceutical Corporation to be equitized. Since then, Imexpharm has undergone many changes in its charter capital, proactively invested in technology, constantly improved the management and expertise of the staff, and recorded brilliant highlights in developing the Vietnamese pharmaceutical industry and contributed to the realization of the dream of Vietnamese using Vietnamese medicines.

For more than 40 years of operation with the ideal of bringing Vietnamese patients European quality products at reasonable prices, Imexpharm has always been a pioneer in innovating high-tech management systems as well as equipping the most modern infrastructure system. By the end of 2019, Imexpharm had two new EU-GMP factories with eight European-standard drug production lines, two new factories under construction in Binh Duong and Dong Thap provinces and two factories meeting WHO-GMP standards in Dong Thap province.

In your opinion, what are the core factors and values that contribute to the success of Imexpharm?

In order to survive in a market with many ups and downs and fierce competition like in the pharmaceutical industry, Imexpharm must define its own development strategy, which is to invest in quality, production processes according to advanced standards in the world. No matter how hard the situation is, we always persistently pursue our goal: to produce affordable products with high quality for Vietnamese people. In addition to the right strategy, in the success of Imexpharm today, it is worth mentioning the dedicated and capable leaders who are always enthusiastically devoted to the development of the company.

Imexpharm's team with the business philosophy of "Lotus still blooming 1,000 years later" is always devoted to learning to improve their professional skills. Imexpharm’s people have devoted their enthusiasm to each pill that is made, hoping to contribute a part of their efforts to the development of the country's health sector. It is that belief, energy and those efforts that have led Imexpharm to overcome many storms on the way to conquer the top and set up an impressive record today.

In the context of extensive international economic integration, what will Imexpharm's sustainable development orientations focus on?

We have entered the era of the Industrial Revolution 4.0, extensive international integration and global competition. As a player in this international playground, Imexpharm has resolutely pursued an investment strategy for quality medical products, directly competing on par with imported drugs. First of all, we will continue to strengthen the entire human resources, helping our people to master the technology and help the company thrive.

In addition, Imexpharm also focuses on ensuring the harmonization of the interests of stakeholders; aims to build an image of a responsible producer in the eyes of the community and a transparent and reliable company in the financial market. Imexpharm's motto is that growth may not be too fast, but must be solid. We want to acquire the advanced technologies in the world, constantly promote the integration of cooperation on the basis of maintaining the true identity of simplicity and permeating human love of the land of the Pink Lotus, which has realized Imexpharm's "desire to take the lead".

Would you tell us about your new plans? Do you have any messages to deliver to the younger generation?

The year 2019 marks 20 years I have been under the "common roof" of Imexpharm. The 20-year journey is not long, but it is enough for me to accumulate a lot of experience and become closer to each step and every development of Imexpharm in particular - Vietnam pharmaceutical industry in general.

In the first days of entering Imexpharm, the company was quite small, everything was difficult, but step by step we have built and brought Imexpharm to the top position of the industry as it is today. Looking back on this journey, I am extremely proud of the contribution of Imexpharm to the domestic pharmaceutical industry, and then thousands of jobs created by Imexpharm to develop the society. Although the journey and mission that we are working on is very glorious, I expect more than that. In the context of current fierce competition and integration, Imexpharm always strives to make continuous progress. As a leader, I always encourage each member of the company to actively study and improve more. Therefore, every year, Imexpharm always extracts money from its business activities to contribute to the development of education.

About the pharmaceutical industry, in recent years, the Government has issued many regulations to encourage businesses to invest in quality, which is a good sign. However, businesses still face many difficulties in drug registration and price declaration, so I hope that new regulations can be promulgated to help businesses overcome difficulties in the future. Vietnam has developed more strongly; each person's life has been much better than in the early post-liberation period. I believe that Vietnam's economy will continue to grow well in the coming time and there will be more opportunities for businesses like Imexpharm; however, there will be no small challenges for the next generation after me and other leaders of the company. That is why I want to remind the young generation of Imexpharm and today's young people to continue to learn and dedicate yourselves to national development; the future of the country is in your hands.

Source: Vietnam Business Forum