Nipro Pharma charges on

August 14, 2012 | 14:00

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Japan’s Nipro Pharma Corporation is getting to work on its Vietnam Nipro Pharma facility in northern Haiphong port city’s Vietnam-Singapore Industrial Park just four months after it was licenced.

The $250 million project will cover 150,000 square metres specialising in producing high-quality medicines mainly injectable, low-priced drugs to developed countries. Specifically, the facility will produce 20 million saline bags, 40 million ampoules, 40 million vials, 2 billion tablets and capsules and 1 billion plasters per year.

“When the factory opens, it will recruit 600 local workers. Like other projects located in VSIP Haiphong, the project will enjoy tax preferential treatments thanks to being located in the Dinh Vu Cat Hai Economic Zone,” said VSIP Haiphong assistant marketing manager Nguyen Thi Phuong Mai, who said the plant would open in April, 2015.

Specifically, the Nipro Pharma facility will only pay 10 per cent corporate income tax in its first 15 years of operating. The new facility will also enjoy tax exemption in its first four years of operation and pay half of this 10 per cent rate in the following nine years.

Nipro Pharma Corporation, a pharmaceutical company, was founded in 1948 in Japan, manufacturing and selling medical drugs and pharmaceutical kit products. By last month, Vietnam had attracted 78 foreign direct investment projects worth $1.1 billion in healthcare services industry, according to the Ministry of Planning and Investment’s Foreign Investment Agency.

US-based Watson Pharmaceuticals, after acquiring Ascent Pharmahealth of Strides Arcolab for $399 million in January this year, also opened a sales office in Vietnam.