31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Investment / News
ADB, Imexpharm sign US$8-million loan to support generic medicine production in Vietnam
Hai Yen 20:22, 2020/12/15
The financing will support the company’s working capital needs to ensure ample supply of active pharmaceutical ingredients for essential generic medicine production.

The Asian Development Bank (ADB) signed an US$8 million loan with Imexpharm Corporation to help the company sustain its production of generic medicines despite global supply disruptions caused by the Covid-19 pandemic.

 Loan from ADB will help Imexpharm maintain production of generic pharmaceuticals. 

The financing will support the company’s working capital needs to ensure ample supply of active pharmaceutical ingredients for essential generic medicine production. Imexpharm’s operations and continued production of generic pharmaceuticals and their ensured availability in the market is integral in safeguarding the country’s health care during the pandemic.

Head of Health and Education Investments at ADB's Private Sector Operations Department Aniruddha Patil said Asia has witnessed disruptions across the pharmaceutical supply chain in 2020, including a shortage of active pharmaceutical ingredients.

“This project demonstrates ADB’s continued efforts to enhance health outcomes in Vietnam by encouraging the development and use of local generic medicines,” Mr. Aniruddha Patil. 

 

“We are pleased to be working with ADB,” said Imexpharm’s Chairman Nguyen Quoc Dinh. “The financing will improve our liquidity situation and ensure a consistent supply of affordable generic drugs to hospitals and pharmacies across Vietnam.”

This debt financing is part of ADB’s US$20 billion assistance announced on April 13 to help its developing members manage the pandemic.

Imexpharm was established in 1977 and initially incorporated in 1983 as the Dong Thap Pharmaceutical Union. The firm was transformed from a state-owned enterprise into a joint-stock company and renamed Imexpharm Corporation, and its shares were listed on the Ho Chi Minh Stock Exchange on December 4, 2006. As of September 30, 2020, Imexpharm had 1,252 employees, total assets of VND2.07 trillion (US$89.33 million) and 6 pharmaceutical manufacturing facilities.

RELATED NEWS
TAG: Vietnam ADB Imexpharm covid-19 coronavirus nCoV pandemic generic medicine production pharmaceutical
Other news
22:22, 2022/22/19
Vietnam and India open new direct flights
The operations of six new air routes will facilitate Vietnamese passengers' travel to places of pilgrimage in India and Indian citizens visiting Vietnam.
18:51, 2022/51/11
More foreign investors land in Vietnam's industrial parks
The reopening of the borders, the government's active support for investors, and the resilience of domestic firms would open up a promising future for the industrial property market in 2022 and subsequent years.
10:49, 2022/49/07
ADB, LDC sign US$100 million loans to support smallholder farmer livelihoods
The loan will support LDC’s operations in India, Indonesia, Pakistan, Thailand, and Vietnam by financing coffee, cotton, and rice inventories for over 50,000 smallholder farmers across these countries.
16:31, 2022/31/04
Vietnam’s selective FDI attraction strategy yields early results
The amount of FDI capital pouring into fields of high environmental risks, obsolete technologies or labor-intensive industries has been on the decline.
20:51, 2022/51/31
FDI in Vietnam rises to 5-year high in Q1
The report added that out of 65 countries and territories investing in Vietnam in the first three months of 2022, Singapore took the lead with $2.29 billion, or 25.7% of the total.
13:21, 2022/21/22
Vietnam - Laos strengthen cooperation in transport infrastructure, energy
Laos remains the largest recipient of Vietnam’s outbound investment capital from a total of 78 countries and territories.