Leading pharma firm fined for securities-related violations

November 04, 2019 | 12:24

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Danapha, which ranked among the top 500 most profitable Vietnamese firms in 2017, has been fined for over VND500 million ($21,740) for securities-related violations, according to the State Securities Commission of Vietnam (SSC).

leading pharma firm fined for securities related violations

Nearly 150 shareholders attended Danapha’s Annual General Meeting in 2019

Accordingly, the biggest pharmaceutical company in Danang city was fined VND70 million ($3,050) for failing to submit reports on schedule.

Danapha was also fined VND350 million ($15,200) for not registering transactions and listing securities; and VND85 million ($3,695) for violating the regulations on corporate governance and others.

Established in 1965, Danapha has a long and proud history of sustainable development. It has a steady position in the Vietnamese pharmaceutical market and is now ready for international opportunities. Danapha is now recognised as a high technology pharmaceutical company in Vietnam.

Danapha targets a revenue of VND550 billion ($23.91 million) in 2019. Suggested solutions for this mission are enhancing the so-called ethical drugs channel (ETC), adjusting policies and producing suitable products to develop the over-the-counter channel (OTC) and non-description drugs; modernise as well as machines and equipment to improve product quality.

Looking to the future, the company aims to be one of the top 10 prestigious pharmaceutical manufacturers in Vietnam, and become a popular pharmaceutical brand in Southeast Asia.

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By Bich Thuy

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