High-tech pharmaceuticals: Imexpharm’s strategic growth engine

Pharmaceuticals emerge as a bright spot in Vietnam’s key economic sectors

Amid a global shift toward pharmaceutical self-reliance and high technology, in March 2024, HCMC made a landmark move: the development of a dedicated Medical–Pharmaceutical Industrial Zone in Le Minh Xuan 2, spanning 338 hectares. This initiative is part of the project "Developing Ho Chi Minh City's pharmaceutical industry to 2030, with a vision to 2045," which aims to drive the production of innovative drugs, promote technology transfer and advance specialized treatments. The decision marks a bold step forward, as Vietnam designates pharmaceuticals as one of the nation’s core economic sectors.

This momentum extends far beyond HCMC. The wave of pharmaceutical industrial park development is gaining traction in multiple provinces. Notable projects include the 345-hectare, 2-billion- USD Bio-Pharma Park in Quynh Phu District, Thai Binh Province and the Cat Khanh Pharmaceutical Factory Complex in Dong Thap, alongside several others nationwide. The government hopes that new pharmaceutical industrial parks will attract foreign-invested enterprises (FIEs) to transfer technology for the production of innovative drugs, advanced generic formulations, vaccines, medical biologicals, and high-value biopharmaceuticals.

According to the Drug Administration of Vietnam, as of April 26^th, 2025, Vietnam has 274 WHO-GMP-certified pharmaceutical plants and 28 facilities operating EU-GMP or equivalent-standard production lines. Among them, Imexpharm leads the country in both the number of EU-GMP-certified factories and certified production lines.

High-tech pharmaceuticals: A rising growth engine

The development of pharmaceutical industrial parks is expected to generate multiple strategic benefits to both the healthcare sector and Vietnam’s broader economy. Firstly, these parks create a closed-loop ecosystem that attracts both domestic and foreign enterprises, driving high-tech knowledge transfer and the production of high-value-added drugs. This helps reduce Vietnam’s reliance on imported medicines and strengthens the nation’s capability to supply essential drugs especially during emergencies like pandemics.

Secondly, pharmaceutical industrial parks prioritize investment in modern infrastructure and advanced equipment, enhancing the quality and technological sophistication of domestically produced drugs to meet growing market demands and unlock export potential in highly regulated international markets.

Finally, pharma parks help optimize investment, production and logistics costs, enhancing the price competitiveness of Vietnamese drugs. At the same time, local governments gain the opportunity to build robust pharmaceutical ecosystems, foster business collaboration and stimulate regional socio-economic growth.

Enterprise: Harnessing synergy with the new wave

Following the momentum of pharmaceutical industrial park development, Imexpharm is moving forward with the construction of the Cat Khanh Pharmaceutical Factory Complex in Dong Thap Province, spanning 9.7 hectares. With a projected average design capacity of up to 1.4 billion product units per year upon full completion and operation (adjustable based on actual product planning in each phase), the complex is envisioned as a hub for high-value pharmaceutical manufacturing, with completion expected by 2028.

The facility will focus on high-tech products such as “first generic” drugs, biosimilars and complex dosage forms including treatments for digestive, cardiovascular, and diabetic diseases — therapeutic segments which are valued at over 50 trillion VND (2 billion USD) and growing at a compound annual rate above 8% over the past five years. Notably, diabetes medications alone have averaged 13% annual growth.

To execute its product strategy, Imexpharm continues to make substantial investments in research and development (R&D), with annual spending increasing by an average of 6% and approximately 100 active research projects maintained on a regular basis. In 2024, the company introduced 24 new products, 50% of which were injectable drugs produced on EU-GMP-certified lines. Notably, Imexpharm holds a portfolio of 25 drugs supported by bioequivalence (BE) data, positioning it as one of the leading domestic pioneers in this field.

People’s Doctor, Pharmacist Tran Thi Dao, General Director of Imexpharm, emphasized: “The Cat Khanh Pharmaceutical Factory Complex will serve as a strategic growth engine, enabling Imexpharm to meet rising market demand while reinforcing its leadership in high-tech, high-value-added pharmaceuticals produced on EU-GMP-certified lines. This will form a solid foundation for the company to maintain its position in advanced treatment segments and prepare for a sustained long-term growth cycle.”

Imexpharm has identified 2025 as a pivotal milestone in its long-term vision, setting a total revenue target of 2,981 billion VND, an 18.6% increase over 2024.