Leading drug maker Pharbaco to list on UPCoM next week

November 22, 2019 | 12:04

(0) user say

Central Pharmaceutical Joint Stock Company No.1 (Pharbaco) is expected to trade 40 million shares on the Unlisted Public Company Market (UPCoM) on November 26 at the reference price of VND11,500 ($0.5) per share, according to the Hanoi Stock Exchange (HNX).

leading drug maker pharbaco to list on upcom next week

Pharbaco (ticker: PBC) has been operating under the JSC format since 2007. Currently, it is one of the leading drug makers under the Ministry of Health.

At end of October 2019, Pharbaco has eight shareholders holding 96 per cent of the total capital, of which Saigon Pharma owns 35.3 per cent, Apollo (26.63 per cent), Vinapharm (14.25 per cent), Cong Huy Cuong Pharma (12.5 per cent), and Reliv Pharma (7.2 per cent).

In 2018, Pharbaco made a net revenue of VND1.22 trillion ($53 million), up 31 per cent on-year. However, its after-tax profit fell by 82 per cent on-year to just over VND3 billion ($130,400).

Pharbaco blamed the low profit on the fluctuations of foreign currency exchange rates, thus resulting in an increase in input material costs and a rise in the cost to upgrade the eastern medicine plant, among others.

This year, Pharbaco aims to report a revenue of VND1.5 trillion ($65.2 million) and profit of VND20 billion ($869,600). The company plans to pay no dividend in 2018 and 2019.

In the first nine months of 2019, Pharbaco made nearly VND955 billion ($41.5 million) of revenue.

New chapter for the development of Vietnam’s pharmaceutical market

Permitting foreign-invested enterprises to conduct direct imports, Vietnam’s pharmaceutical policies are now more in alignment with international treaties. Le Net and Ngo Thanh Hai, lawyers ...

EVFTA raises stakes in pharma market

In anticipation of the long-awaited landmark EU-Vietnam Free Trade Agreement, the lucrative Vietnamese pharmaceutical market is expected to open up wider to European businesses, heralding ...

Hand-shakes between local and foreign players in pharmaceutical market

Growing participation of foreign players in Vietnam’s pharmaceutical market is putting pressures on local pharmaceutical firms, however analysts suggest the deals with foreign partners could ...

By Bich Thuy

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional