Imexpharm targets fifth consecutive year of double-digit growth

At its AGM in Ho Chi Minh City on April 22, Imexpharm approved its business plan, with earnings before interest, taxes, depreciation, and amortisation expected to rise 12.3 per cent. Profit metrics are forecast to maintain double-digit growth across the board.

The company is expected to benefit from Vietnam's strong economic growth, projected to be among the highest in ASEAN. However, management noted that geopolitical risks, exchange rate pressures, interest rates, and inflation remain key challenges, with uncertainties expected to persist in 2026.

These pressures were already reflected in first-quarter results. Revenue reached $24.2 million and profit before tax stood at $3.9 million, up 8 per cent on-year.

Against this backdrop, Imexpharm's 2026 and mid-term strategy is structured around three key pillars: technology & products, market expansion, and governance.

Tran Thi Dao, board member and general director of Imexpharm, spoke at Imexpharm's General Meeting of Shareholders on April 22, 2026. Photo: Imexpharm

On the technology and product front, the company is accelerating partnerships with specialised pharmaceutical companies to enable technology transfer and co-develop advanced therapies, with a focus on next-generation antibiotics and chronic disease treatments.

On the market front, Imexpharm continues to strengthen its domestic position while expanding its presence in northern Vietnam through the establishment of a Haiphong branch. At the same time, it is advancing its international expansion by maintaining and extending registrations with the European Medicines Agency under EU Good Manufacturing Practice (EU-GMP) standards, alongside ASEAN regulatory bodies and selective distribution partnerships.

On governance, the company is advancing towards international standards by implementing a roadmap for the adoption of International Financial Reporting Standards, strengthening data-driven decision-making, and building a transparent and efficient governance platform.

Alongside these strategic pillars, the Cat Khanh Pharmaceutical Factory Complex continues to be developed in line with the company’s financial capacity and market demand. With a total investment of nearly $57.7 million, the project focuses on specialised therapeutic segments and high-tech products. It is expected to become a key growth driver in the coming years, with phased commercial operations planned from late 2028 to the first quarter of 2030.

Separately, the AGM approved a cash dividend plan of 5 per cent to 8 per cent of charter capital, with the board of directors authorised to determine the final payout based on actual business performance.

Imexpharm's leadership addressed shareholders' concerns during the 2026 General Meeting of Shareholders discussion. Photo: Imexpharm

Speaking at the AGM, Tran Thi Dao, board member and general director of Imexpharm said, "2025 marks a decade of manufacturing and distributing EU-GMP standard pharmaceutical products in Vietnam. Over the past 10 years, we have established our position as the leading EU-GMP manufacturer through strategic vision and consistent execution. This milestone reflects the exceptional capabilities of our team in research and development, manufacturing, and quality management, ensuring that every product meets the highest standards of safety and efficacy."

In 2025, Imexpharm recorded gross revenue of $111.5 million, up 16 per cent on-year, and net revenue of $92.3 million, up 10.7 per cent, driven by a well-executed product mix transformation and channel strategy. Gross profit rose 17.1 per cent, lifting the gross margin to 41 per cent. Profit before tax reached $17.2 million, up 10.4 per cent, achieving 90 per cent of the AGM-approved target despite a volatile policy environment.

Imexpharm's 2025 performance was considered strong and outperformed the broader market, according to reports from the board of directors and management. The AGM also approved a 6 per cent cash dividend for 2025 – one percentage point higher than planned – reaffirming the company's commitment to shareholder value and the effectiveness of its sustainable growth strategy.

During the year, Imexpharm implemented 157 projects and launched 25 new products, exceeding its target of 16. The company introduced the 'first generic' antibiotic Ceftazidime/Avibactam 2.5g – the first of its kind in Vietnam – manufactured on an EU-GMP-compliant production line, strengthening its long-term competitive position.

Imexpharm’s EBITDA margin rises to 22.3 per cent driven by cost management and growth In September 2025, Imexpharm's profit before tax surged by 101 per cent, while EBITDA increased by 48 per cent.

Imexpharm named Vietnam’s best place to work in pharmaceutical industry Imexpharm has been named the #1 Best Place to Work in Vietnam 2025 in the pharmaceutical, medical devices, and healthcare sector category.

The generics industry: unlocking new growth drivers For the first time, generic antibiotics meeting EU-GMP standards are being produced in Vietnam, marking a pivotal shift in efforts to upgrade the pharmaceutical value chain and enhance competitiveness of the domestic drug industry.