Imexpharm Pharmaceutical Joint Stock Company is charting a significant growth trajectory by intensifying its research and development (R&D) initiatives as a strategic move to develop high-tech pharmaceuticals and enter the global pharmaceutical supply chain.

Welcoming talent: a strategic priority

Recently, Imexpharm partnered with Can Tho University of Medicine and Pharmacy to organize a career counseling workshop focused on production and drug quality management for pharmacy students in 2024. 

Professor Dr. Nguyen Trung Kien, Rector of Can Tho University of Medicine and Pharmacy, highlighted that Imexpharm is actively recruiting many medical and pharmaceutical students, with approximately 20% of its workforce comprising graduates from Can Tho University working at the company.

Dr. Nguyen Vinh Luan, Human Resources Director of Imexpharm, emphasized the company's commitment to talent development: “At Imexpharm, people are always the key factor for the company's development and success. We are fortunate to have top talents in Vietnam's pharmaceutical industry. The company consistently invests in human resources at all levels to ensure a talented leadership team, an excellent scientific team, and a proficient operational, sales, and marketing team, all of which drive the business forward.”

From its early days with only a few dozen members in Dong Thap, primarily responsible for receiving and distributing medicine during the subsidy period, Imexpharm's R&D department has grown robustly.

Today, 80% of Imexpharm’s staff hold university degrees or higher, with many having recieved training in Europe.

Attracting young scientists to build a strong research foundation has been Imexpharm's focus for many years. Simultaneously, the company has been a pioneer in developing and applying new technologies to produce high-quality pharmaceuticals that meet international standards.

High-tech manufacturing and EU-GMP certification

In 2023, Imexpharm allocated 5% of its revenue to R&D activities. To date, Imexpharm boasts the largest EU-GMP-certified factory clusters in Vietnam, comprising three EU-GMP factory clusters and eleven EU-GMP lines.

This investment has established Imexpharm as the leading producer of antibiotics in Vietnam. Notably, the company has applied advanced enzymatic technology to manufacture high-quality, safe, and effective antibiotics.

Imexpharm’s continuous success in numerous R&D projects has resulted in over 333 products licensed for commercial use in Vietnam. In 2023, the company secured 11 additional registration numbers for six products in Europe, including complex formulations such as Ampicillin/Sulbactam, bringing the total number of Marketing Authorizations in Europe to 28 across 11 product types.

R&D as a competitive advantage

Imexpharm’s strategy of building EU-GMP-standard factories and prioritizing scientific research has granted the company a significant competitive edge over domestic pharmaceutical companies.

This strategic approach has also positioned Imexpharm to enter a "golden development" phase, enabling it to compete with multinational giants in the industry.

PwC predicts that the total directly added value from the pharmaceutical invented drug industry in Vietnam can grow at a compound annual rate of 15% to 20% from 2022 to 2040, contributing between USD 3.3 billion to USD 7.4 billion to the economy by 2040. Technological advancements are expected to accelerate this growth rate, rapidly elevating Vietnam’s position on the global pharmaceutical map.

In 2023, Imexpharm managed 93 R&D projects, launching 15 new products to the market, thereby enhancing its portfolio of pharmaceutical offerings.

The company is also planning to expand its non-antibiotic product sector by building the IMP5 factory, which will produce new product lines including drugs for cardiovascular diseases, diabetes, otorhinolaryngology, coughs, and digestive diseases.

By producing specialty drugs locally, Imexpharm is increasing consumer access to treatments that were previously available only through imports.

Financial growth and strategic partnerships

In the first half of 2024, Imexpharm reported net revenue of VND 1.008 trillion, a 10% year-on-year increase. Pre-tax profit and EBITDA reached VND 161 billion and VND 215 billion, respectively, maintaining a stable EBITDA margin of 21%. This strong growth momentum continued into August 2024, when Imexpharm's net revenue surged by 11% compared to the previous month, reaching VND 177 billion.

Notably, at the close of the trading session on September 17, Imexpharm Pharmaceutical JSC's IMP stock hit the ceiling price (+6.99%), pushing the share price to VND49,750, surpassing its historical peak since the company was listed on the stock market (2006). The upcoming issuance of more than 77 million shares at a 1:1 ratio will raise Imexpharm’s charter capital.

Recently, Imexpharm has partnered with South Korea’s Genuone Sciences in drug registration, manufacturing, and distribution, alongside advanced technology transfers. This partnership follows numerous collaborations with global pharmaceutical corporations such as Sandoz, Sanofi-Aventis, Pharmascience, and DP Pharma.

Imexpharm's production experience, coupled with EU-GMP standard lines, has equipped the company with outstanding production capabilities and the ability to meet international quality standards.

This has opened opportunities for Imexpharm to participate in the global drug supply chain. With European-quality products, Imexpharm has successfully penetrated new markets such as Mongolia and secured export contracts with other markets including Singapore, Malaysia, and the Philippines.

Vision for 2030 and beyond

These strategic initiatives not only lay the foundation for Imexpharm's vision of tripling revenue by 2030 but also consolidate its position in the global market. Concurrently, these orientations align with the rising demand for high-quality treatment solutions in Vietnam and the surrounding region.

“Research and development are the driving forces behind innovation and medical advancement to improve public health quality. To fully capitalize on growth opportunities in the pharmaceutical industry, the Government needs to implement necessary policy reforms and establish clear directions in various domains, from investment incentives and legal frameworks to education and training programs,” stated Imexpharm's General Director.

PV