Imexpharm targets VND2,981 billion in total revenue in 2025

Imexpharm, a key player in Vietnam’s pharmaceutical industry, outlined its 2025 growth plan at its recent Annual General Meeting (AGM). The company is aiming for total revenue of VND2,981 billion ($119.24 million) and a profit before tax of VND493.5 billion ($19.74 million), representing year-on-year increases of 18.6 per cent and 22.1 per cent, respectively.

2024: Resilience amidst volatility

In his opening remarks, Mr. Sung Min Woo, Chairman of the Board, stated: “2024 was marked by global uncertainty and volatility. However, with the unified efforts of our Board of Management and all our employees, Imexpharm delivered market-outpaced performance. 2025 is a cornerstone year for Imexpharm’s long-term vision of becoming a leading Asian pharmaceutical company, focusing on high-tech, high-value-added products capable of competing confidently on the global stage.”

In 2024, Imexpharm recorded net revenue of VND2,205 billion ($88.2 million), an 11 per cent increase from 2023. Notably, the ETC channel grew 56 per cent, with revenue from EU-GMP standard injectable products making up 33 per cent of total revenue. EBITDA reached VND521 billion ($20.84 million), up 12 per cent, and profit before tax hit VND404 billion ($16.16 million), achieving 96 per cent of the annual target. Following this performance, the company made a strategic decision to adjust its dividend payout from 20 per cent to 5 per cent of the charter capital to preserve cash flow for strategic investments, particularly in the Cat Khanh Pharmaceutical Factory Complex Project (IMP5).

2025: Strengthening core capabilities

Imexpharm’s 2025 business targets also include net revenue of VND2,649 billion ($101.8 million), up 20.1 per cent; and EBITDA of VND635 billion ($24.4 million), an increase of 21.9 per cent. The EBITDA margin is expected to be maintained at a high level of 24 per cent, indicating a stable operational outlook and sustainable profitability.

To achieve these targets, Imexpharm plans to launch 16 new products, including high-tech offerings such as "first generics," biosimilars, and complex dosage forms, which are expected to contribute 5-10 per cent of revenue. Additionally, the company is expanding its production capacity, focusing on the Cat Khanh Pharmaceutical Factory (IMP5), designed to meet EU-GMP standards. This factory is expected to begin operations in 2028 and will focus on specialized therapeutic areas like gastrointestinal, cardiovascular, and diabetes treatments, which require high technical content.

Imexpharm is also expanding its market coverage, particularly in the Northern region. In 2024, the company restructured its sales system, which helped achieve nearly 50 per cent growth in customer numbers. This momentum continued into Q1 2025, contributing to higher revenue and increased brand recognition.

Mr. Nguyen An Duy, CFO of Imexpharm, emphasized the role of digital transformation and performance management as key levers for the next growth phase. Intelligent reporting systems, integrated financial-operational-sales data management platforms, and an effective management model are enabling the company not only to control costs but also to make faster, more accurate decisions. Imexpharm aims to become the leading pharmaceutical company in Vietnam in terms of ESG practices, risk management, and compliance with international standards and best practices, thereby maximizing value for shareholders and the community.

Imexpharm’s management affirmed that product growth, network growth, and operational efficiency are the three strategic pillars that will help Imexpharm realize its medium- and long-term vision.

Building trust through transparency and expertise

The discussion session at the 2025 AGM reflected shareholders' keen interest in key strategic issues, from the future product portfolio and long-term competitiveness to the ownership structure and the company's market position.

Regarding competitiveness, People’s Doctor, Pharmacist Tran Thi Dao, General Director of Imexpharm, highlighted three key factors driving Imexpharm's outstanding growth momentum: EU-GMP standard manufacturing capabilities, a portfolio of new-generation antibiotics with broad hospital coverage, and a lean, transparent, and efficient operating model. This forms the foundation for the company not only to lead the antibiotic market but also to expand into complex, high-tech therapeutic groups.

In the current market landscape, antibiotic resistance is increasingly becoming a serious global issue, threatening treatment efficacy and public health. Imexpharm has prioritized the research and development of new-generation antibiotics to meet growing market demand. Mr. Le Van Nha Phuong, Chief Production Officer, elaborated on three key therapeutic areas the company is actively developing: cardiovascular, gastrointestinal, and diabetes. These areas currently represent a market size of over VND50 trillion ($20 billion) and are experiencing stable compound annual growth rates of 8-13 per cent, particularly in diabetes, where treatment demand is continuously rising (source: IQVIA).

“Building on the impressive results of 2024, 2025 marks a year of accelerated ambition for Imexpharm,” emphasized the General Director of Imexpharm. “This year, IMP will continue to intensify R&D for high-tech products such as 'first generics,' biosimilars, and complex dosage forms…, expand EU-GMP production capacity, enhance operational efficiency, and target export markets. The Cat Khanh Pharmaceutical Factory Complex Project (IMP5), expected to break ground by the end of 2025, will be a crucial driver, helping Imexpharm meet increasing demand and solidify its position in the segment of high-tech, high-value drugs produced on EU-GMP lines.”