CUU LONG PHARMACEUTICAL JOINT STOCK COMPANY

The precursor of the subject - Pharimexco was a state-owned company that started operation in 1976. Pharimexco was equitized in 2004 and it has been listed on Ho Chi Minh Stock Exchange since Sep 2008 with stock code DCL.

Currently, the subject has 4 factories including one pharmaceutical manufacturing factory, one antibiotic manufacturing factory, one medical instrument manufacturing factory (Vikimco) with products like medical syringes, infusion lines, etc, and one empty capsule factory. To achieve the business plan targets, Pharimexco continues to focus on producing and trading key products such as empty capsules, cancer drugs, and medical supplies… through increasing new investments in production facilities.

- Regarding the production and supply of empty capsules of all kinds segment: In 2020, Pharimexco invested to expand the Vicancap capsule factory phase IV. This project has gone into operation since the second quarter of 2021, which enhanced its production capacity from 5.5 billion capsules per year to 8.6 billion capsules per year. Phase V of this capsule factory is currently in the installation of equipment and machines progress. In the first quarter of 2024, Phase V came into operation, the supply output reached 9.6 billion capsules per year, equivalent to about 800 million capsules per month.

- Regarding the medical equipment segment: Pursuing the criteria of improving production capacity, meeting domestic demand, and aiming to export to the international market, the subject ensures the construction progress of the Benovas medical equipment manufacturing factory. By the end of the fourth quarter of 2023, Pharimexco completed 80% of the factory construction. The project has an area of 11,000 square meters with a total investment of VND 373 billion, divided into 2 phases, and is expected to be operational by the second quarter of 2024.

- Regarding the pharmaceutical segment: At the end of 2022, Pharimexco was granted an investment certificate for the EU-GMP pharmaceutical factory project with a scale of 50,000 square meters, a total investment capital of VND 1,035 billion, built at Huu Thanh Industrial Park, Huu Thanh Commune, Duc Hoa District, Long An Province. The subject is investing in this project. The factory's medicine and pharmaceutical production capacity is designed to reach 1.6 billion products per year. At present, the subject’s pharmaceutical warehouse is being put into operation.

In 2023, the subject set up a business plan with a net sales target of VND 1,150 billion, an increase of 13.2% compared to 2022 and a pre-tax income target reached more than VND 160 billion, an increase of 13.1% compared to 2022. In 2023, Pharimexco completed 99% of the net sales plan but only 49% of the pre-tax income plan.