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]
The local tourism sector needs USD 42.5 billion during the next 10 years, for the development of infrastructure and service. The funding is needed to increase the number of local tourists from 28 million in 2010 to 47-48 million in 2020 and foreign tourist arrivals from 5.05 million to 10 million. Under the tourism development plan for the 2011-2020 period, with a vision to 2030, the investment demand for the period is huge, much higher than tourist income can provide. The local tourism sector expects to earn about USD 18-19 billion until 2020 while the investment demand is USD 42.5 billion.…... [read more]
The country’s demand for drugs is expected to rise due to increasing population and income. The average spending of Vietnamese on drugs rose from US$9.85 in 2005 to US$22.25 in 2010, double to US$37.97 in 2015 and US$56 in 2017. The average growth rate of spending on drug was 14.6% in 2010-15 and is set to maintain a rate of at least 14% until 2025. Spending is forecast to double to US$ 85 per person in 2020 and US$ 163 in 2025. The VNR on December 25 launched the list of the 10 most prestigious pharmaceutical firms in Vietnam in…... [read more]
Illustrative image (Source: VNA)Hanoi (VNA) - Vietnamese pharmaceutical companies are optimistic about the business prospects of the sector, as well as its potential in 2016-17.This information was released in a survey alongside the top 10 most prestigious pharmaceutical companies in the country by the Ministry of Information and Communications and Vietnam Report Company (VNR) on October 25 in Hanoi.Accordingly, more than 70 percent of businesses expect that the sector’s growth rate would be over 10 percent, the remaining participants expected that growth would be lower. There was no firm believing that growth would be worse than that of last year.According…... [read more]
Foreign investors have great hunger for Vietnam’s lucrative food industry. The rent of space to food services traders in Ho Chi Minh City sharply hiked in recent years, particularly in prime business districts like in the areas surrounding Ben Thanh market and Le Thanh Ton road in District 1, or Truong Dinh and Cao Thang roads in District 3. In fact, scores of investors willingly paid broker fees equal to one to two months rent still found it hard to become owners of places which were bustling business districts to lease out to foreign investors, according to director Nguyen Quoc…... [read more]
The pharmaceutical sector’s revenue is forecast to hit US$2 billion by 2012, according to the Vietnamese Ministry of Health’s Drug Administration. The administration announced the estimate at a recent conference to assess the health sector’s investment attraction. Vietnamese people spend US$1.7 billion on buying medicine products in 2009, up 18.9% from a year earlier, the administration said, adding that drug expenditure per capita was around US$19.77 last year, soaring 495.48% on year. The government is encouraging foreign firms to invest in the field of vaccine production as the country imported US$59 million worth of vaccines last year to meet demand of…... [read more]
