Imexpharm’s Growth Strategy: A Focus on R&D, Global Expansion, and Talent Recruitment

Imexpharm Pharmaceuticals, in collaboration with Can Tho University of Medicine and Pharmacy, hosted a career counselling event for pharmacy students in April 2024, focusing on drug production and quality management. The workshop aimed to bridge the gap between academia and industry, providing students with insights into the pharmaceutical sector.

Prof. Dr. Nguyen Trung Kien, rector of the university, highlighted that 20% of Imexpharm’s workforce comprises graduates from their institution, demonstrating the company's commitment to recruiting local talent. Dr. Nguyen Vinh Luan, human resources director of Imexpharm, emphasized that human capital is central to the company's growth and success. He credited the company’s investment in nurturing talent at all levels as a key driver of its success in the competitive pharmaceutical landscape.

Founded with a small team in Dong Thap during the subsidy period, Imexpharm has evolved significantly over the years. The company now boasts a strong R&D department, with 80% of its employees holding university degrees, many trained internationally. Attracting young scientists and consistently investing in research has been a cornerstone of Imexpharm’s strategy.

Imexpharm has pioneered the application of cutting-edge technology, including the use of Enzymatic methods for producing high-quality antibiotics, helping it maintain its position as Vietnam's leading antibiotic producer. In 2023, Imexpharm spent 5% of its revenue on R&D, and its investment in EU-GMP standard factories has placed it at the forefront of domestic pharmaceutical manufacturers. The company currently operates three EU-GMP certified factory clusters and holds 333 licensed products in Vietnam, with 28 Marketing Authorizations in Europe.

Imexpharm’s growth strategy involves expanding beyond antibiotics to non-antibiotic drugs for cardiovascular, diabetes, and digestive diseases. Plans for the IMP5 factory underscore its ambitions to bring more specialized drugs to the local market, increasing accessibility and reducing reliance on imports.

Financially, Imexpharm's net revenue in the first half of 2024 reached VND1 trillion ($40.5 million), marking a 10% year-on-year growth. Pre-tax profits reached VND161 billion ($6.53 million), with an EBITDA margin of 21%. July 2024 was a standout month, with a 28% revenue increase driven by both over-the-counter (OTC) and ethical drugs (ETC) sales channels.

Imexpharm’s Board of Directors has also announced a significant capital raise through the issuance of 77 million shares, scheduled for September 18. This move is expected to boost the company’s charter capital and strengthen its ability to meet global production standards, expanding its presence in international markets like Mongolia, Singapore, Malaysia, and the Philippines.

The company’s forward-looking strategy aligns with PwC’s projections of rapid growth in Vietnam’s pharmaceutical industry, which is set to contribute significantly to the national economy by 2040. With a focus on innovation and R&D, Imexpharm is well-positioned to continue its upward trajectory, both domestically and internationally.

Imexpharm’s CEO, Tran Thi Dao, emphasized the importance of continued government reforms to support the pharmaceutical industry’s potential, particularly in terms of legal frameworks, investment incentives, and education to ensure a steady pipeline of skilled professionals.