Sunday, June 24, 2018 9:50:57 PM - Markets open
VN-INDEX 983.17 +13.77/+1.42%
HNX-INDEX 111.98 +1.82/+1.65%
UPCOM-INDEX 51.81 +0.02/+0.03%
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
23/06 CCM cancels listing on HNX
23/06 VGC: Ministry to sell 18% stake in Viglacera
19/06 KEB Hana Bank BIDV’s potential strategic investor: VCSC
19/06 BCG: Bamboo Capital to focus on core business activities
18/06 TCB: Techcombank to increase charter capital to 1.53 billion USD
15/06 NLG: Nam Long Corporation offers five million shares for foreign investors
15/06 BSR first shareholders’ meeting
13/06 VIC: Vingroup announces plan to produce smartphones
07/06 VHM: Berjaya Land sells finance centre to Vinhomes
06/06 HNR: 120-year-old liquor company to debut shares
Older News
10/04 HPG: Hoa Phat exports wire drawing steel to Laos, RoK
07/04 Vietinbank and PG Bank deal collapses
07/04 Sabeco asked to hold shareholders’ meeting on personnel matters
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 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
31/03 Vietjet receives newest A321 aircraft from Airbus
 
Newsletter Signup
Top Stories
VN manufacturing PMI hits 22-month high in March
CPI goes up 4.96 percent year-on-year in first quarter
Slight rise in February CPI
Draft decree on State monopoly in trade submitted to Government
CPI ups 0.46% in January
Market Update
Last updated at 3:12:04 PM
VN-INDEX 983.17 +13.77/+1.42%
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...
Portfolio
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.