Multi-sector corporation Masan steps up retail pharma game
Masan, one of Vietnam’s largest listed conglomerates by market capitalization, has made another move in the drug distribution business.
It set up Winphar this March as a service and trading firm with a charter capital of just VND10 million (about $430). The new company was renamed Dr. Win earlier this month and its capital sky-rocketed to almost VND28.6 billion (over $1.22 million). Winphar has begun recruiting pharmacists for its retail business.
Ho Chi Minh City-based Masan operates in multiple sectors including agriculture, food processing, coffee chains, retail, minerals, banking and financial services. It is strongly developing its “Point of Life” concept, where minimarts provide banking services, essential products, pharmaceuticals, food, coffee, tea and other beverages under one roof.
WinMart+ is part of Masan’s retail platform. Photo courtesy of Vietnambiz.
Already incorporated into the minimarts are medicines distributed by HCMC-based Phano Pharma Co, and mobile services provided by new telecommunication brand Reddi.
Masan's vision is to build an offline-to-online platform that will enable customers to have the same experience whether they are sitting at home or shopping at stores.
The Vietnamese pharmaceutical retail market, meanwhile, has been bustling. Big market players FPT Retail and Mobile World Group (MWG) have made their mark across Vietnam in operating pharmacy chains.
The race between the two is indicated by the expansion of FPT Retail’s Long Chau and MWG’s An Khang chains.
FPT's pharmacy chain has about 500 stores nationwide to date, while An Khang operates more than 200, mostly in the south.
Meanwhile, another player in the market, Digiworld, a distributor of tech products, has said it would focus resources on drug retail this year with the goal of becoming one of the three largest pharmaceutical distributors in Vietnam.
- Related News
- Read More
Usilk City urban area project case in Hanoi referred to police for investigation over alleged violations
Vietnam's Government Inspectorate has decided to refer the case related to the expanded Van Khe urban area project (Usilk City) to the Ministry of Public Security for investigation and handling in accordance with the law, after identifying a number of wrongdoings.
Real Estate - Tue, April 21, 2026 | 5:12 pm GMT+7
ACV proposes shifting most international flights from Tan Son Nhat to Long Thanh by 2027
Airports Corporation of Vietnam (ACV) has proposed shifting the bulk of international flights from Tan Son Nhat International Airport in Ho Chi Minh City to the Long Thanh International Airport in neighboring Dong Nai province under a phased plan that could see more than 90% of international passenger traffic handled by the new airport as early as 2027.
Economy - Tue, April 21, 2026 | 5:03 pm GMT+7
Tasco chairman outlines growth plan as shareholders lament losses
Shareholders of Tasco JSC voiced concerns at the firm’s annual general meeting on Monday after "holding HUT shares for three years without breaking even", prompting chairman Vu Dinh Do to outline key priorities for the company’s next phase of growth.
Companies - Tue, April 21, 2026 | 3:22 pm GMT+7
More than a marathon: How Carlsberg Vietnam runs together to build a stronger growth culture
For the fifth consecutive year, Carlsberg Vietnam, together with its iconic Huda brand, returned as one of the main sponsors of VnExpress Marathon Hue 2026. But for the company, this was never simply about sponsoring a race. It was about something far bigger: how culture, leadership, and shared purpose create the foundation for sustainable growth.
Companies - Tue, April 21, 2026 | 12:17 pm GMT+7
AnPro drives An Phat Holdings’ expansion into interior materials
An Phat Holdings is expanding beyond engineering plastics into high-tech interior materials through its AnPro brand, as part of a broader strategy to move up the value chain.
Companies - Tue, April 21, 2026 | 12:14 pm GMT+7
Vingroup, Vinhomes lift 2026 profit targets, sending shares higher
Vietnamese conglomerate Vingroup (HoSE: VIC) and its subsidiary Vinhomes (HoSE: VHM) said they will seek shareholder approval to raise their 2026 revenue and profit targets at the upcoming AGM.
Companies - Tue, April 21, 2026 | 11:18 am GMT+7
Foxconn pours additional $58.3 mln into northern Vietnam unit
Taiwan’s Hon Hai Precision (Foxconn), a key electronics supplier to Apple, said it will invest an additional $58.32 million in its Vietnamese subsidiary, Fushan Technology (Vietnam), according to a filing to the Taiwan Stock Exchange.
Investing - Tue, April 21, 2026 | 11:03 am GMT+7
Consortium proposes three wastewater plant projects in HCMC
A consortium comprising three Vietnamese companies - Petrosetco, Gelex Infrastructure and Viconship - has proposed three major wastewater treatment projects in Ho Chi Minh City, highlighting growing private-sector interest in environmental infrastructure.
Industries - Tue, April 21, 2026 | 8:00 am GMT+7
Vietnam: Energy shock clouds the outlook for 2026
The most difficult period will be in Q2 and Q3/2026 as high global energy prices (and limited supplies) hit their peaks before easing toward end-2026, write UOB analysts in their latest report on Vietnam economic forecasts released last Friday.
Economy - Mon, April 20, 2026 | 5:22 pm GMT+7
Vietnam's top retailer MWG targets 30% profit growth this year, $10 bln sales by 2030
Mobile World Investment Corporation (HoSE: MWG) set net profit goal at VND9.2 trillion ($349.4 million) this year, up 30% year-on-year, as the leading Vietnamese retailer accelerates separate plans for its core subsidiaries.
Companies - Mon, April 20, 2026 | 4:52 pm GMT+7
Steel giant Hoa Phat inaugurates $76 mln steel pipe plant in southern Vietnam
Vietnam’s conglomerate Hoa Phat Group (HoSE: HPG) on Saturday inaugurated a new steel pipe plant in the southern province of Tay Ninh with an investment of VND2 trillion ($75.6 million), as the country’s top steelmaker expands capacity to capture recovering demand in construction and infrastructure.
Industries - Mon, April 20, 2026 | 3:01 pm GMT+7
DNSE margin lending and advance receivables up nearly 40% year-on-year
Brokerage DNSE Securities JSC reported operating revenue of more than VND395 billion ($15 million) in the first quarter of 2026, up 62% from a year earlier, driven by strong growth in margin lending and advances on securities sales.
Companies - Mon, April 20, 2026 | 1:47 pm GMT+7
Major corporations back Ho Chi Minh City Venture Capital Fund
Several large regional and Vietnamese corporations have become founding shareholders of the Ho Chi Minh City Venture Capital Fund, launched last Friday as part of efforts to boost early-stage financing for startups.
Finance - Mon, April 20, 2026 | 1:40 pm GMT+7
Foreign investors hold over 10% stake in CAEX after capital hike
Vietnam Prosperity Crypto Asset Exchange JSC (CAEX) has completed a capital increase from VND25 billion to VND10 trillion ($380 million), with foreign investors holding a 10.6% stake.
Finance - Mon, April 20, 2026 | 8:00 am GMT+7
Are foreign capital flows gradually returning to Vietnamese stocks?
Foreign investors have remained net sellers of more than VND6.63 trillion ($251.76 million) on Vietnam’s stock market since April 8, though several sessions of net buying have re-emerged, with most of the net selling concentrated in a handful of large-cap stocks such as VIC, VHM and VPL.
Finance - Mon, April 20, 2026 | 7:30 am GMT+7
Military Bank seeks to make foreign corporate clients a key growth driver
Military Bank (HoSE: MBB) has applied to set up representative offices in Singapore, South Korea, Taiwan and mainland China as the Vietnamese lender seeks to make foreign corporate clients a key growth driver.
Banking - Sun, April 19, 2026 | 3:21 pm GMT+7
