Vietnamese pharma firm Bidiphar sets $13 mln pre-tax profit target

By Nguyen Tri, Lan Do
Sat, April 13, 2024 | 7:49 pm GMT+7

Vietnamese pharma major Binh Dinh Pharmaceutical Medical Equipment JSC (Bidiphar) has set 2024 revenue and pre-tax profit targets of VND2,000 billion ($79.9 million) and VND320 billion ($12.78 million), respectively.

The firm, which will hold its 2024 annual general meeting of shareholders on April 27, has kept the same pre-tax profit as 2023.

Bidiphar has invested in a factory to make cancer treatment drugs at Nhon Hoi Economic Zone in Quy Nhon town, Binh Dinh province, south-central Vietnam. Photo courtesy of Bidiphar.

Bidiphar has invested in a factory to make cancer treatment drugs at Nhon Hoi Economic Zone in Quy Nhon town, Binh Dinh province, south-central Vietnam. Photo courtesy of Bidiphar.

In documents prepared prior to the AGM, Bidiphar has assessed that the global economy will continue to be in recession this year. Natural disasters, climate change, and international political issues are getting more complex and this would have a detrimental effect on Vietnam's international supply chain for goods, including machinery and raw materials used in the country's pharmaceutical industry.

Vietnam's policies are becoming more open in an effort to attract foreign investment, which presents both opportunity and difficulties for domestic firms.

To deal with this situation, Bidiphar will keep improving the quality of its products, strengthen its market position and attract the investment needed to achieve these objectives.

In 2024, Bidiphar intends to invest over VND842 billion ($33.63 million). Of this amount, approximately VND108 billion ($4.3 million) will be used to buy or renovate equipment for the factory in Quy Nhon town, Binh Dinh province.

Another VND734 billion ($29.3 million) will be used for investment in under-construction projects like the Nhon Hoi Cancer Factory (VND84 billion or $3.35 million), an aseptic production factory (nearly VND624 billion or $24.9 million), and the Bidiphar office building (VND16.4 billion or $655,180).

In its 2023 production and business plan, Bidiphar had aimed at revenues of VND1,800 billion ($78.9 million). However, the company only managed to reach VND1,732 billion ($69.2 million), or 96% of the target. Despite this, it earned record pre-tax profits of VND320 billion ($12.78 million), higher than the targeted VND300 billion ($12 million).

Looking back at the 2019-2023 five-year period, Bidiphar had experienced stable growth in revenue and profit. Revenue increased from VND1,321 billion ($52.77 million) in 2019 to VND1,732 billion ($69.2 million) in 2023; and profit from VND174 billion ($6.95 million) to VND320 billion ($12.78 million).

It envisions becoming a top five domestic pharmaceutical manufacturing company by 2026 and grow further to a top three position by 2030.

Bidiphar, listed on the Ho Chi Minh Stock Exchange (HoSE) as BDB, closed Friday at VND54,300 ($2.17) per share.

Comments (0)
  • Read More
Vietnam plans to spend over $2 bln on US agri imports

Vietnam plans to spend over $2 bln on US agri imports

Vietnam’s Ministry of Agriculture and Environment is expected to sign MoUs to purchase over $2 billion worth of U.S. agricultural, forestry, and fishery products.

Economy - Tue, June 3, 2025 | 10:01 pm GMT+7

New flight route to help Danang attract more wealthy tourists from Middle East

New flight route to help Danang attract more wealthy tourists from Middle East

The new Dubai-Danang flight route has been launched, paving the way for an influx of high-spending travelers from the Middle East and Europe to the central Vietnam city, one of the country's top tourist attractions.

Companies - Tue, June 3, 2025 | 9:13 pm GMT+7

Food giant C.P. Vietnam’s 'diseased' pigs improperly quarantine-stamped: authorities

Food giant C.P. Vietnam’s 'diseased' pigs improperly quarantine-stamped: authorities

The widely circulated images of diseased pigs from C.P. Vietnam, a subsidiary of Thailand’s food giant Charoen Pokphand Foods Public Company Limited (CPF), date back to 2022, but the pigs were improperly stamped, Vietnamese authorities stated on Tuesday.

Companies - Tue, June 3, 2025 | 5:36 pm GMT+7

Son Hai Group proposes expanding 263km stretch of Vietnam's North-South Expressway

Son Hai Group proposes expanding 263km stretch of Vietnam's North-South Expressway

Vietnam’s Son Hai Group is seeking Prime Minister Pham Minh Chinh's approval to invest in the expansion of a 263-kilometer stretch of the eastern section of the North-South Expressway.

Infrastructure - Tue, June 3, 2025 | 3:53 pm GMT+7

FedEx establishes direct serve in Vietnam on surging demand

FedEx establishes direct serve in Vietnam on surging demand

FedEx Express Corporation, one of the world’s largest express transportation companies, has transitioned to a direct-serve presence in Vietnam amid the Southeast Asian country’s growing international shipping demand.

Industries - Tue, June 3, 2025 | 2:55 pm GMT+7

Vietnam’s steel giant Hoa Phat to deliver thousands of containers to domestic shipping lines  

Vietnam’s steel giant Hoa Phat to deliver thousands of containers to domestic shipping lines  

Vietnam’s largest steelmaker, Hoa Phat Group, will supply thousands of containers to VIMC Container Transport JSC (VIMC Lines) and Vinafco Shipping JSC under recently signed contracts.

Companies - Tue, June 3, 2025 | 12:16 pm GMT+7

Shinhan Bank receives 'Fastest growing SME bank Vietnam 2025' award

Shinhan Bank receives 'Fastest growing SME bank Vietnam 2025' award

South Korea’s Shinhan Bank Vietnam Limited has been named the “Fastest Growing SME Bank Vietnam 2025” by World Economic Magazine (UK).

Companies - Tue, June 3, 2025 | 10:19 am GMT+7

Vietnam’s ‘shrimp king' Minh Phu expects to return to profit in 2025

Vietnam’s ‘shrimp king' Minh Phu expects to return to profit in 2025

Minh Phu Seafood Corporation (UPCoM: MPC), Vietnam’s leading shrimp exporter, expects net profit to reach VND997 billion ($38.03 million) this year, reversing the loss in 2024.

Companies - Tue, June 3, 2025 | 8:38 am GMT+7

CMC Corporation breaks ground on $300 mln technology hub in Hanoi

CMC Corporation breaks ground on $300 mln technology hub in Hanoi

Vietnam's leading technology firm CMC Corporation on Monday broke ground on its $300 million Hanoi CMC Creative Space (CCS Hanoi) project.

Industries - Mon, June 2, 2025 | 11:19 pm GMT+7

Thailand’s industrial output up after 9-month decline

Thailand’s industrial output up after 9-month decline

Thailand’s industrial output has turned positive for the first time in nine months, with the automotive sector rebounding after a 21-month slump, said Thai Deputy Finance Minister Paopoom Rojanasakul.

Southeast Asia - Mon, June 2, 2025 | 10:48 pm GMT+7

Singapore, France to expand cooperation in civil nuclear energy, defence technology, AI research

Singapore, France to expand cooperation in civil nuclear energy, defence technology, AI research

Singapore and France have upgraded their Strategic Partnership signed in 2012 to a Comprehensive Strategic Partnership (CSP), marking Singapore's first CSP with a European country.

Southeast Asia - Mon, June 2, 2025 | 10:47 pm GMT+7

Masan MEATLife stock jumps on continued profit momentum

Masan MEATLife stock jumps on continued profit momentum

The ticker of Masan MEATLife (MML), a subsidiary of Vietnamese consumer retail giant Masan Group, jumped by 8.71% to VND31,200 ($1.2) per share on Monday, after it reported profit for the third consecutive quarter in Q1/2025.

Companies - Mon, June 2, 2025 | 10:34 pm GMT+7

Vietnam's VSIP Binh Dinh industrial park seeks to become 'golden destination' for Thai firms

Vietnam's VSIP Binh Dinh industrial park seeks to become 'golden destination' for Thai firms

The Becamex VSIP Binh Dinh service-urban-industrial complex in the central province of Binh Dinh is emerging as a promising destination for Thai enterprises, said its developer Becamex Binh Dinh JSC.

Industrial real estate - Mon, June 2, 2025 | 10:24 pm GMT+7

Termination of feed-in-tariff mechanism a major bottleneck in Vietnam’s electricity transition: expert

Termination of feed-in-tariff mechanism a major bottleneck in Vietnam’s electricity transition: expert

A major bottleneck in Vietnam’s electricity transition has been the termination of the feed-in-tariff (FIT) mechanism in 2021, with no suitable replacement mechanism in place, according to the director of Hanoi-based Institute of Energy Technology.

Economy - Mon, June 2, 2025 | 4:56 pm GMT+7

Vietnam Vaccine JSC launches high-quality healthcare shop chain

Vietnam Vaccine JSC launches high-quality healthcare shop chain

Vietnam Vaccine JSC (VNVC), well known for its vacciation services, on Saturday launched its VNVC Shop, a chain offering safe, high-quality healthcare products from globally recognized brands.

Companies - Mon, June 2, 2025 | 4:05 pm GMT+7

Vietnam heavyweight PV Gas plans $3 bln investment over next 5 years

Vietnam heavyweight PV Gas plans $3 bln investment over next 5 years

PV Gas, a subsidiary of state-owned giant Petrovietnam, plans to make "strong investment" over the next five years in areas such as infrastructure and import-distribution of LNG.

Energy - Mon, June 2, 2025 | 2:01 pm GMT+7