Expansions at fore of strategies in pharma

Foreign pharmaceutical firms are looking to further expand their distribution rights in Vietnam, while some are deep in discussions over general partnership prospects in the sector.

- By Bich Thuy

Last week, Russia’s Promomed Group met with Vietnam’s Ministry of Health (MoH) in Hanoi to discuss cooperation opportunities. It is working with Vinapharm and potential Central Pharmaceutical 1 to distribute products in Vietnam, including molecular drugs, innovative medicines, and monoclonal antibodies. It is also interested in working with relevant MoH units to develop a strategic framework for its operations in Vietnam.

“The MoH highly appreciates Promomed’s direction in the areas of innovative drugs, generic drugs, and biosimilars; research and development (R&D); and increasing access to quality medicines at reasonable costs,” said Minister of Health Dao Hong Lan.

Earlier in May, Lian SGP Holding, a subsidiary of China’s Livzon Pharmaceutical Group, announced it has become a major shareholder of Imexpharm. Lian SGP successfully acquired over 104.54 million shares, equivalent to 67.87 per cent.

Following the transaction, the company officially became the parent company of Vietnam’s leading pharmaceutical enterprise. The transaction was part of Lian SGP’s public tender offer announced in January, when it registered to buy more than 120 million Imexpharm shares, equivalent to 77.94 per cent of the charter capital.