R&D comes to forefront for local pharma sector

According to Vietnam Report’s December 2017 survey of local pharmaceutical firms, 83 per cent of those surveyed ranked the research of new drugs as their predominant strategy in 2018. “The trend will enable pharma firms to venture further into the profitable segment of ethical – or prescription – drugs, which is currently dominated by multinational corporations, to cash in on the favourable conditions created in the Law on Pharmacy 2016,” an analyst at BIDV Securities told VIR. Recent moves by top Vietnamese drugmakers Hau Giang Pharmaceutical JSC (DHG), Traphaco, and Domesco have seemingly confirmed the trend. “Research and development (R&D) is the decisive factor for the future growth of our company. We spend about 5 per cent of our annual revenue on R&D activities. In 2017, we started to focus on a new product – an eyedrop made at our new factory inaugurated in November 2017,” said Vu Thi Thuan, chairwoman of Traphaco. “We plan to produce functional foods such as digestive ferments for children, and upgrade some production assemblies to EU-GMP/PIC/S-GMP standards in 2018.” With the new factory, Traphaco aims to become the number one drug producer in Vietnam by 2020, with market capitalisation of VND10 trillion ($454.5 million), revenue of VND4 trillion ($181.8 million), and a distribution network of 40 branches nationwide by 2020. Traphaco’s major foreign shareholders are Vietnam Azalea Fund Ltd. under Mekong Capital with a 25 per cent stake, Vietnam Holding Ltd. (10.43 per cent), and Citigroup Global Markets Ltd. (4.75 per cent). Vietnam’s third-biggest… [Read full story]

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