The list of top 15 pharmaceutical companies in Vietnam is prepared by VietnamCredit based on their finanical indicators (net revenue in 2020) and their positions within the industry.
1. DHG PHARMACEUTICAL JOINT STOCK COMPANY
DHG Pharma is the largest pharmaceutical company in Vietnam by revenue. The company is the owner of a variety of medicinal products.
DHG Pharma Company, also known as Hau Giang Pharmaceutical Joint Stock Company, was established 1975. DHG Pharma manufactures drugs with many different dosage forms including tablets, softgels, syrups, liquid medicines, creams, oral suspensions, and medicines extracted natural herbs.
Products of DHG Pharma are divided into 9 major groups including:
- Antibiotics
- Pain reliever - fever reducer
- Respiratory medicine
- Neuro-ophthalmic drug
- Musculoskeletal drug
- Cardiovascular - diabetes
- Nutritional medicine
- Dermatological drugs - beauty care
- Digestive - hepatobiliary drug
In 2020, DHG’s revenue reached 3,755 billion VND while its profit before tax was 821 billion VND. As of December 31, 2020, the total assets of Hau Giang Pharmaceutical was 4,447 billion VND, up 7% compared to the beginning of the year..
2. HA TAY PHARMACEUTICAL JOINT STOCK COMPANY
Ha Tay Pharmaceutical Joint Stock Company, formerly known as Ha Tay Pharmaceutical Enterprise, was established in 1965. In 1985, the company was merged with Ha Tay Pharmaceutical Company and Hoa Binh Pharmaceutical Company to become Ha Son Binh Pharmaceutical Complex.
In 1991, Ha Son Binh Pharmaceutical Complex was divided into Ha Tay Pharmaceutical Company and Hoa Binh Pharmaceutical Company.
In 2000, Ha Tay Pharmaceutical Company was transformed into Ha Tay Pharmaceutical Joint Stock Company according to the decision No. 1911/QD-UB dated December 21, 2000 of the People's Committee of Ha Tay province. The charter capital of the company was 8,410. 800,000 VND. Since equitization, the company has increased its charter capital 3 times.
According to the separate financial report for the first quarter of 2021, the revenue of this company reached 366.4 billion VND, profit after tax reached 19.9 billion VND, down 27.1% and 34.6%, respectively, over the same period last year.
3. PYMEPHARCO JOINT STOCK COMPANY
Pymepharco Joint Stock Company, formerly known as Phu Yen Pharmaceutical and Medical Supplies Company, was established in 1989. In May 2006, the company was officially transformed into Pymepharco Joint Stock Company.
Pymepharco is currently the leading company in pharmaceutical production technology in Vietnam with 2 production lines meeting GMP-EU for tablets and Betalactam for injections.
In 2020, Pymepharco achieved 1,934 billion VND in net revenue selling goods and providing services, up 4.5% compared to 2019. Last year, both selling and administrative expenses were similar to that in the previous year, so net profit operating activities reached 393.8 billion VND, down 1.6%.
As of December 31, 2020, the total assets of this company reached 2,563 billion VND, up 11.3% compared to the beginning of the year. In which, payable debt is 517 billion VND.
4. TRAPHACO JOINT STOCK COMPANY
Traphaco Joint Stock Company, formerly the Drug Production Team of the Railway Medical Company, was established on November 28, 1972. After many transformations, on January 1, 2000, Traphaco officially started operating in the form of a joint stock company with 45% state capital. On July 5, 2001, the company changed its name to Traphaco Joint Stock Company. On November 26, 2008, the company was officially listed on the Ho Chi Minh City Stock Exchange.
Traphaco has nearly 27,000 loyal customers, and 40 agents spread across 63 provinces. Traphaco is dominating the OTC market, becoming the exclusive distributor of Sandoz products of Novatis Group since 2015.
In 2020, the company’s consolidated profit reached 203 billion VND, exceeding 13% of the plan. Parent company profit reached 157 billion VND, exceeding 19% of the plan.
5. VIETNAM FUMIGATION JSC
In 2001, Vietnam Fumigation Joint Stock Company was born on the basis of the equitization of Vietnam Fumigation Company, a State-owned enterprise established in 1993.
Vietnam Fumigation Joint Stock Company is considered as one of the top ten agro-pharmaceutical companies in Vietnam with 7% market share. At the same time, the company is also considered as the leading enterprise in the field of providing disinfection and pest control services with more than 80% market share.
In 2020, the company recorded revenue of 1,913.3 billion VND, profit after tax of 166.5 billion
As of December 31, 2020, the total assets of the company decreased by 19.4% to only 1,839.7 billion VND. In partcular, the majority of its asset is inventory, reaching 709.1 billion VND, acing for 38.5% of total assets; acs receivable reached 410.7 billion VND, acing for 22.3% of total assets; cash and cash equivalents reached 329.8 billion VND, acing for 17.9% of total assets.
6. DOMESCO MEDICAL IMPORT EXPORT JOINT STOCK CORPORATION
Domesco Medical Import-Export Joint Stock Company was established on May 19, 1989. This company specializes in research, development, production, marketing and sales of pharmaceuticals, drugs derived pharmaceutical materials, food functional foods, purified drinking water and herbal drinks.
Domesco's financial report shows that at the end of the first quarter of 2021, its net revenue reached 290 billion VND, equal to the same period in 2020.
Gross profit of Domesco was only 77.3 billion VND, down 19% compared to the first quarter of 2020.
7. IMEXPHARM CORPORATION
Formerly known as Grade II Pharmaceutical Company, the company was established in 1977. In 2001, it was transformed into Imexpharm Pharmaceutical Joint Stock Company with a charter capital of 22 billion VND. In 2006, the company officially listed its shares on the Ho Chi Minh City Stock Exchange.
In 2013, it made a new improvement in production with the use of raw materials produced with fermentation technology (Enzymatic) of the Spanish DSB Group. In 2016, Imexpharm was granted EU-GMP certification by the Spanish Ministry of Health for 03 production lines at Binh Duong Factory. Imexpharm is the leading manufacturer of quality generics in Vietnam.
According to data collected by VietnamCredit, in 2020, Imexpharm’s revenue reached 1,420 billion VND, down 0.57% compared to 2019. Its net revenue decreased more sharply, by 2.4%, reaching 1,369 billions VND.
However, thanks to the reduction in selling and administrative expenses, Imexpharm still earned 255.4 billion VND in pre-tax profit, completing 98% of the year target.
8. BINH DINH PHARMACEUTICAL AND MEDICAL EQUIPMENT JSC
Binh Dinh Pharmaceutical-Medical Equipment Joint Stock Company, formerly known as Nghia Binh Pharmaceutical Enterprise II under Nghia Binh Medical Company, was established in 1980. In 1989, the company was renamed Binh Dinh Pharmaceutical Enterprise. After many changes, in 2006, the Company operated under the model of parent - subsidiary company. In 2014 when equitization was completed, the company officially became a joint stock company.
In terms of business results in 2020, the company's total revenue reached 1,329.8 billion VND, a slight increase of 0.6% compared to 2019, however, the actual output of manufactured products still grew by more than 20%.
9. OPC PHARMACEUTICAL JOINT STOCK COMPANY
OPC Pharmaceutical Joint Stock Company, formerly known as TW 26 Pharmaceutical Enterprise, was established on October 24, 1977 under Decision No. 1176/BYT-QD of the Ministry of Health.
OPC is one of the leading companies in Vietnam Nam in the field of manufacturing pharmaceuticals derived medicinal plants. It is the first company that manufactures drugs of medicinal origin to be granted GMP, GLP, GSP certificates by the Drug Administration - Ministry of Health.
In 2020, OPC achieved 965.7 billion VND in net revenue, down 2.4% compared to the previous year. In the same period, COGS increased by 3.1% while gross profit sales and service provision still decreased by 10%, reaching 375.2 billion VND.
10. VIDIPHA CENTRAL PHARMACEUTICAL JOINT STOCK COMPANY
Vidipha Central Pharmaceutical Joint Stock Company, formerly known as Central Pharmaceutical Industry Development Company, was established on July 9, 1993.
According to Decision No. 468/2003/QD-BYT dated January 30, 2003 by the Minister of Health, Vidipha Central Pharmaceutical Joint Stock Company was officially established and operated in the form of a joint stock company.
In 2020, VDP recorded sales and service provision of more than 721 billion VND, up 13.9% over the previous year. Its pre-tax profit was more than 62 billion VND, up 10.71% compared to 2019.
By the end of 2020, the total assets of the company were nearly 766 billion VND, an increase of 15.54% compared to the beginning of the year, of which financial investment increased by more than 146% to 190 billion VND, short-term receivables decreased by 37.5% to more than 125 billion VND while inventory increased by 19.8% to nearly 230 billion VND.
11. SPM JOINT STOCK COMPANY
Formerly known as a pharmaceutical distributor in the early 80s, after many years of operation, in 2001, SPM Joint Stock Company was officially established.
Currently, SPM is a leading enterprise in the pharmaceutical and wellness food market.
In 2020, despite being affected by the epidemic, the company earned nearly 661 billion VND in net revenue, up 24% compared to 2019. However, due to the scarcity of raw materials and high transportation costs, the company only achieved 8 billion VND in profit after tax, down 8% compared to the previous year.
12. MEDIPLANTEX NATIONAL PHARMACEUTICAL JSC
The predecessor of the company was North-South Pharmaceutical Company under the Ministry of Internal Trade. After many business transformations, in 2005, the company changed its ownership form into a joint stock company and changed its name to Mediplantex National Pharmaceutical JSC.
Accordingly, in 2020, the company achieved 521.4 billion VND in net revenue, down 28.4% compared to 2019 (728.5 billion VND). It was explained that in early 2020, the outbreak of the Covid-19 epidemic greatly affected the company's production and business activities.
13. PHARMEDIC PHARMACEUTICAL MEDICINAL JSC
Pharmedic Pharmaceutical Joint Stock Company, formerly known as Pharimex Medical Direct Import Export Company, was established in 1981.
At the end of 2020 , Pharmedic recorded a revenue of 461 billion VND, a slight decrease of 1% compared to 2019, while its profit after tax was nearly 75 billion VND. With the set plan of revenue reaching 413.6 billion VND and profit after tax reaching 60 billion VND, the company exceeded 12% of revenue target and 24% of profit target.
14. CENTRAL PHAMACEUTICAL JOINT STOCK COMPANY NO3
Central Pharmaceutical Enterprise 3 under the Ministry of Health was established in 1962 f specializing in the production of traditional medicines. In November 2003, Central Pharmaceutical Enterprise Central 3 became Foriphamr Central Pharmaceutical Joint Stock Company. In September 2006, it became Central Pharmaceutical Joint Stock Company 3.
Central Pharmaceutical Joint Stock Company 3 has been producing more than 100 types of drugs to meet domestic and international demands.
In 2020, the company’s net revenue reached 397.6 billion VND, down 3.2% compared to 2019. Cost of goods sold decreased by 16.8%, resulting in an increase of 4.5% in gross profit (273.8 billion VND).
15. LAM DONG PHARMACEUTICAL JSC
Lam Dong Pharmaceutical Joint Stock Company - Ladophar, formerly known as Lam Dong Pharmaceutical Union Enterprise, was formed in 1982 based on the merger of two pharmaceutical companies.
The company specializes in production of modern and traditional medicines, trading drugs, pharmaceutical materials, medical equipment, and import and export of drugs, pharmaceuticals.
Lam Dong Pharmaceutical JSC's revenue in 2020 reached 252.7 billion VND, which decreased by nearly half compared to 2019 (VND 379.7 billion).
Source: Vietnam Credit
