Saturday, December 07, 2019 11:35:20 PM - Markets open
VN-INDEX 963.56 +0.29/+0.03%
HNX-INDEX 102.50 +0.13/+0.13%
UPCOM-INDEX 55.92 +0.06/+0.11%
Vingroup enters pharmaceutical industry
VietnamPlus - 4/10/2018 11:02:03 AM
 (0 ratings. You must sign in to rate.)
Conglomerate Vingroup has announced its entry into the pharmaceutical industry with its Vinfa brand.
Along with pharmaceutical research, manufacturing, trading and export-import tasks, Vinfa will focus on the preservation, research and development of traditional Oriental medicines with origins in Vietnamese herbs.  
Following the success of the Vinmec Medical System and realising the expansion plan in the healthcare sector, Vingroup has established Vinfa Joint Stock Company in the pharmaceutical business, along with an investment to build Vinfa Drug Research and Production Centre in Gia Binh district, Bac Ninh province.
With a total investment of 2.2 trillion VND (97.7 million USD), the project’s first phase will be built in an area of nearly 10ha following international standards, including research, production, logistics and support works, according to Phan Thu Huong, Chairman of the Vinfa’s Board of Directors.
With investment from Vingroup, the entire production process at Vinfa will be equipped with the latest and advanced technologies to optimise the efficiency and quality of pharmaceutical products.
The objective of the Vinfa Drug Research and Production Centre is to produce and sell good-quality Oriental and Western medicines to serve the domestic and export markets.
Vinfa will also focus on the production of health food, vaccines and medical equipment of international standards to better meet the high demand for healthcare and treatment of people.
In addition to exploiting the country’s precious herbal resources, Vinfa plans to promote cooperation with prestigious pharmaceutical production industries from the United States, Europe and Australia. The aim is to receive consultancy, technology and technical expertise as well as facilitate the import of raw materials and products.
The group says the operation and quality-control process at Vinfa will have three core criteria: best-quality products, highly skilled and dedicated staff and striving towards professionalism.
The investment in the pharmaceutical production plant is considered a new step forward for Vingroup’s strategy of expansion in the healthcare sector to realise the mission of ‘Better Life for the Vietnamese’. Through Vinfa, we want to research, produce, import and export the best-quality products while preserving and developing precious medicinal herbs and traditional medicines of the country, said Huong.
Construction of the drug research centre is scheduled to begin in the third quarter of 2018. - VNA
Read original article here
Newer News
06/12 WSS: Information disclosure about the tender offer for shares WSS of Mr. Nguyen Dinh Viet
06/12 FCS: Board Resolution
06/12 DKP: Board Resolution
06/12 CHS: Announcement of the last 2018 dividend payment and 2019 dividend advance
06/12 TA3: Signing a contract with auditor for fiscal year 2019
06/12 SIV: Notice of record date for Dividend payment in cash
06/12 SEP: Signing a contract with auditor for fiscal year 2019
06/12 SEP: Result of transactions of Directors, PDMR (Mr. Le Quang Nhat)
06/12 VNY: Signing a contract with auditor for fiscal year 2019
06/12 TNW: Extraordinary General Mandate 2019
Older News
10/04 HPG: Hoa Phat exports wire drawing steel to Laos, RoK
09/04 Moody’s upgrades VPBank’s credit rating for second year
06/04 TPBank heads to HSX at VND32,000 initial price
05/04 HVG: Seafood firm Hùng Vương to sell assets to offset losses
04/04 HAGL reports decrease of $29 million in audited financial statements
04/04 Nawaplastic to boost holdings in Bình Minh Plastic to more than 50%
04/04 Sabeco meeting to add ThaiBev to board
03/04 VIC: Vinfast’s sedan, SVU models acquire IP protection in EU
02/04 HPG: Steelmaker Hoa Phat Group targets 2.42 billion USD in revenue
02/04 Vinamilk sets 2.46 bln USD in revenue in 2018
Newsletter Signup
Top Stories
Reference exchange rate down 3 VND on December 6
Vietnam’s economy stays positive amid global growth slowdown: PM
Vietnam attracts 31.8 billion USD in FDI in 11 months
Software firms are adding more value to their products
VN30 firms take 92% of all top listed firms’ total Q3 profits
Market Update
Last updated at 3:10:01 PM
VN-INDEX 963.56 +0.29/+0.03%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.