Adamed Group signs largest Polish direct investment in Vietnam

16:28 | 30/11/2017
Adamed Group spent $50 million on acquiring a controlling stake in Davipharm Co., Ltd., Vietnam’s fastest-growing pharmaceutical, marking the largest direct Polish investment in Vietnam to date.
Vietnam's fastest growing pharmaceutical found a willing investor in Polish Adamed Group

According to information published on Adamed Group’s website, the purchase agreement was officially signed by Adamed general director Małgorzata Adamkiewicz and Pham Tai Truong,founder of Davipharm, on November 28 in Hanoi, in the presence of the presidents of both countries—Andrzej Duda and Tran Dai Quang—during the official visit of the Polish President, accompanied by a business mission organised by the Ministry of Economic Development and the Polish Investment and Trade Agency.

The deal provides an extensive investment plan, including the transfer of Adamed’s knowledge and expertise.

“Davipharm manufactures a wide range of medicinal products for both the Vietnamese and neighbouring markets. In view of the scale of this transaction and further investments into the development of the company, we consider our investment to be a launching pad for the further dynamic expansion of Adamed Group in the Asia-Pacific region,” said Adamkiewicz.

Regarding Davipharm, Truong stated that Adamed Group’s investment is an opportunity for continued dynamic development. Co-operation with such an experienced partner will enable Davipharm to reinforce their position in the local market and to expand in the Asia-Pacific region.

Established in 2004 in Binh Duong province, Davipharm manufactures 300 medicinal products in most therapeutic classes. It is considered the fastest-growing company in the Vietnamese pharmaceutical market. It exports its products to the Philippines, Cambodia, and Myanmar.

Adamed, which was founded in 1986, specialises in providing patients with medical goods which are used to treat chronic modern-age diseases in a number of therapeutic areas, namely allergology and pulmonology, angiology, diabetology, and urology, among others.

Adamed began exporting its products in December 2003. To date, Adamed products are currently available in 60 markets around the world.

The investment in Vietnam forms part of the internationalisation of the company. In 2016, it recorded a 15 per cent increase in export revenue.

Poland reaching out to step up co-operation with Vietnam
Poland reaching out to step up co-operation with Vietnam

The economic achievements and potential of Poland are a great foundation to develop and reach out to large markets outside of Europe. Vietnam is one of the five key markets the Polish government has chosen to spur co-operation with.

Poland adopts gradual ban on Sunday shopping
Poland adopts gradual ban on Sunday shopping

WARSAW: Poland adopted legislation on Friday (Nov 24) that will ban most Sunday trading by 2020, with opinion surveys showing that consumers have mixed feelings about the move in the heavily Catholic EU state.

Vietnam and Poland set to tighten trade and investment co-operation
Vietnam and Poland set to tighten trade and investment co-operation

Vietnam and Poland are expected to sign several co-operation deals this week to beef up their investment and trade ties, which are on an uptrend at the moment.

RELATED CONTENTS:
Electronic giants setting foot in pharmaceutical retail
Foreign-backed local pharma surges
Pymepharco: second largest pharmaceutical company ready for stock market debut
Techmart 2017 opens in HCM City
Imexpharm may scrap FOL if market winds are right
ROK poised to increase market share in Vietnam drug market

Based on MasterCMS Ultimate Edition Ver 2.8 2018