Pharmaceutical firm Tipharco posts record after-tax profit in 2022
Tipharco Pharmaceutical JSC recorded an after-tax profit of VND18.2 billion ($773,600) in 2022, 19 times higher than the previous year and the highest since its establishment in 1976 after joining Bamboo Capital Group nearly a year ago.
Net revenue of the company, registered on the unlisted public company market (UPCoM) as DTG, reached VND297.1 billion ($12.63 million), up 46% year-on-year.
Tipharco attributed the outstanding results to the board of directors and shareholders reaching consensus on development strategy, the swift implementation of positive solutions, and Bamboo Capital Group’s support in organization and management.
In addition, Tipharco actively promoted sales, expanded distribution channels and focused on developing key products such as antibiotics, digestive, cardiovascular and diabetes drugs, and supplementary foods. Inefficient distribution systems were restructured while new potential distribution channels were launched.
The firm also managed input costs and reduced interest expenses. Corporate governance has also been renewed, making employees the center of the transformation process.
A Tipharco factory. Photo courtesy of the company.
The restructuring and reasonable business strategies helped Tipharco's gross profit margin improve from 16.6% to 23.3%. The cost/net revenue ratio and other expenses were well controlled, resulting in a net profit margin of 6.1%. In 2022, sales of Tipharco's key products grew 248% over the same period in 2021, with output soaring 200%.
At the end of 2022, a new distribution channel through the Tesla Pharma network was formed, in addition to the traditional distribution channels like hospitals and pharmacies. The Tesla distribution network is expected to become Tipharco's main sales channel.
In 2023, Tipharco targets net revenue of VND360 billion ($15.3 million) and after-tax profit of VND30 billion ($1.27 million), growing 21% and 65% year-on-year, respectively.
This year, the company will spend up to VND27.3 billion ($1.16 million) raising capacity, building warehouses, and purchasing machinery and equipment.
As of December 31, 2022, Tipharco's total assets stood at VND262.9 billion ($11.17 million) and equity was VND135.5 billion ($5.76 million). The company’s current charter capital is VND63.5 billion ($2.7 million). It plans to increase its charter capital to invest in machinery and equipment for factories, research and development, and expanding distribution systems in the Mekong Delta and Southeast regions.
Tipharco’s general meeting of shareholders on March 17 approved a plan to increase chartered capital under which the firm will offer another 22,358,385 shares to existing shareholders, with an expected price of VND10,000 ($0.43) per share.
The company also plans to move its DTG shares from the UPCoM to the Hanoi Stock Exchange (HNX). Once its shares are listed on the HNX, the company will pay 2022 dividends at a rate of 20%, including 5% in cash and 15% in shares.
With such positive business results in 2022, Bamboo Capital Group said it has set strong growth targets from 2023-2027 for Tipharco, with revenue and profit growing 19% and 40% per year to VND2.52 trillion ($107.12 million) and VND315 billion ($13.39 million), respectively.
Tipharco was established in 1976 under the name Tien Giang Pharmaceutical Company, and was renamed Tipharco Pharmaceutical Joint Stock Company in February 2006. In March 2022, it officially became a subsidiary of Bamboo Capital Group, listed on the Ho Chi Minh Stock Exchange (HoSE) as BCG, following the latter’s acquisition of a 21% stake.
- Read More
Property fever prompts tighter inspection in central Vietnam's economic hub Danang
Chairman of Danang city People’s Committee, Pham Duc An, has ordered a comprehensive inspection and audit of land valuation and auction activities to prevent and address market manipulation that could destabilize the local property market.
Real Estate - Sat, October 18, 2025 | 8:00 am GMT+7
Vietnam mulls opening door for private investment in small modular reactors
Vietnam’s Ministry of Industry and Trade has drafted a parliamentary resolution that, for the first time, would allow private companies to participate in the development of small modular nuclear reactors (SMRs).
Energy - Fri, October 17, 2025 | 4:37 pm GMT+7
Kido seeks buyer for remaining 49% stake in frozen food affiliate
Kido Group (HoSE: KDC), a leading food company in Vietnam, has approved a plan to divest the firm's remaining 49% stake in its affiliate Kido Frozen Food JSC (Kido Foods).
Companies - Fri, October 17, 2025 | 4:25 pm GMT+7
Le Ngoc Quang appointed Danang city's Party chief
Le Ngoc Quang, a Party Central Committee member and Party chief of Quang Tri province, has been appointed Party chief of Danang for the 2025-2030 term - the highest position in the city, central Vietnam's economic hub.
Politics - Fri, October 17, 2025 | 4:17 pm GMT+7
T&T Group seeks to reshape north-central Vietnam’s urban landscape with major projects
Multi-sector conglomerate T&T Group is developing a model eco-urban complex in Ha Tinh province and plans to build a massive 236-hectare urban area in neighboring Nghe An, with an aim to reshape north-central Vietnam's urban landscape.
Investing - Fri, October 17, 2025 | 2:44 pm GMT+7
Toyota plans $359 mln plant expansion in northern Vietnam
Toyota Motor Vietnam (TMV) plans to invest about VND9.46 trillion ($359.2 million) in the first phase of its plant expansion project in Phu Tho province.
Investing - Fri, October 17, 2025 | 2:09 pm GMT+7
PVI Insurance sees 9-month profit before tax more than doubling
PVI Insurance has reaffirmed its position as the No. 1 non-life insurer in Vietnam, with total revenue increasing nearly 1.4 times in the first nine months of 2025 and pre-tax profit more than doubling year-on-year - surpassing its full-year targets for both revenue and profit.
Companies - Fri, October 17, 2025 | 9:08 am GMT+7
Vingroup to develop 4,600ha coastal urban project in northern Vietnam
A consortium of Vingroup (HoSE: VIC) and its real estate arm Vinhomes (HoSE: VHM) will develop a 4,600-hectare coastal urban complex in Ha An ward, Quang Ninh province, following local authorities’ approval of a zoning plan.
Real Estate - Fri, October 17, 2025 | 8:30 am GMT+7
Indonesia resumes int’l carbon trading after 4-year hiatus
Indonesian President Prabowo Subianto has issued a new decree to restart international carbon emissions trading after a four-year hiatus.
Southeast Asia - Thu, October 16, 2025 | 9:23 pm GMT+7
Investors seek 2-year delay for $2.56 bln LNG power project in northern Vietnam, citing equipment hurdles
Investors of a $2.56 billion LNG-fired power plant in Hung Yen province have proposed delaying the project’s commercial operation schedule by two years due to difficulties securing key equipment.
Energy - Thu, October 16, 2025 | 9:04 pm GMT+7
Vietnam to soon raise taxpayers' personal deduction: official
The personal income tax deduction in Vietnam is "very likely" to increase to VND21.7 million ($823,940) per month, including VND15.5 million (588,530) for the taxpayer and VND6.2 million ($235,410) for each dependent.
Finance - Thu, October 16, 2025 | 6:25 pm GMT+7
Business confidence climbs as reforms gain traction amid global headwinds: EuroCham Vietnam
The index climbed to 66.5, surpassing pre-tariffs level and reaching its highest in three years – showcasing resilience and adaptability amid global headwinds and evolving U.S. tariff pressures.
Economy - Thu, October 16, 2025 | 4:36 pm GMT+7
Vietnam's stock market watchdog suspends two Grant Thornton auditors
Vietnam's State Securities Commission (SSC) has suspended two auditors from Grant Thornton Vietnam after determining that the 2024 audited financial statements of Saigon Water Infrastructure Corporation (HoSE: SII) failed to meet required standards.
Finance - Thu, October 16, 2025 | 3:35 pm GMT+7
Law No. 56 a major policy breakthrough for Vietnam's stock market development
The Law No. 56, effective January 1, 2025, is one of the major legal breakthroughs in recent years that will enhance the transparency and operational efficiency of the Vietnamese stock market.
Finance - Thu, October 16, 2025 | 2:30 pm GMT+7
WHA Group breaks ground on smart technology industrial zone in central Vietnam
Thailand's WHA Group on Tuesday broke ground on a world-class, modern, and environmentally friendly industrial zone in central Vietnam, namely the WHA Smart Technology Industrial Zone-Thanh Hoa.
Real Estate - Thu, October 16, 2025 | 2:00 pm GMT+7
Vietnam a key partner in Murphy Oil’s global strategy: exec
Vietnam remains a key partner in Murphy Oil’s global business strategy, said Eric Hambly, the U.S. corporation's president and CEO.
Companies - Thu, October 16, 2025 | 12:06 pm GMT+7




















