The (ADB) signed an eight million USD loan with to help the company sustain its (Photo: baodautu.vn) Hanoi (VNA) – The Asian
Development Bank (ADB) signed an eight million USD loan with Imexpharm
Corporation to help the company sustain its production of generic medicines
despite global supply disruptions caused by the pandemic.
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 that 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,” he added.
For his part, Imexpharm’s Chairman Nguyen
Quoc Dinh said that the financing will improve the firm’s 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 20
billion USD 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 in December 2006.
As of September 30, Imexpharm had 1,252 employees,
total assets of 2.07 trillion VND (89.66 million USD), and six pharmaceutical
manufacturing facilities./.
Source: VietnamPlus
