Vietnam’s pharmaceutical market is booming, which attracts a lot of foreign and domestic investors. Such non-pharmaceutical giants as FPT, Vingroup and The Gioi Di Dong have started to enter this potential market. With a steady increase in population, growing per capita income and improved people's intellect/intellectual standard, demands for medicines will increase. However, imported medicines are still the “first choice” of Vietnamese people, which causes a lot of difficulties for domestic pharmaceutical manufacturers.

With a huge database and a team of experienced analysts,
VietnamCredit expects to provide a comprehensive report on Vietnam’s Pharmaceutical Industry, which offers an overview of this potential industry (from production to consumption). Based on the statistics of this report, VietnamCredit specifically lists up top 10 biggest pharmaceutical companies in Vietnam as follows:


Vietnam Pharmaceutical Corporation was created from 1971, it has through over 40 years of foundation and development. From that to now, it has many changes in name, business type, chartered capital, BOD. Currently, it operates as a joint stock company under name of VIETNAM PHARMACEUTICAL CORPORATION. The chartered capital is also lifted to VND 2,370,000,000,000. 65% of the chartered capital is held by Ministry of Health. It is known as a big manufacturer and trader of pharmaceutical products in Vietnam. Its head office is placed at No.12 Ngo Tat To Street, Van Mieu Ward, Dong Da District, Ha Noi...
Total Revenue in 2017: 6,814 Billion VND
Total profit before tax in 2017: 258 Billion VND


DHG Pharmaceutical JSC is considered as one of the biggest companies in manufacturing pharmaceutical products. It has been officially established since 1974 in Can Tho City. Currently, this company is operating under the business code No. 1800156801, granted by Can Tho Department of Planning and Investment with VND 1,307,460,710,000 in chartered capital, in which SCIC (State Capital Investment Corporation) holds 43.31%. It has listed on HOSE with stock symbol DHG since the late year 2006. It is headquartered at No. 288 Bis, Nguyen Van Cu Street, An Hoa Ward, Ninh Kieu District, Can Tho City, Vietnam.
Total Revenue in 2017: 4,063 Billion VND
Total profit 
before tax in 2017: 719 Billion VND


Viet Nam Fumigation JSC (VFG) was formerly known as Fumigation Teams since 1975. It was equitized and became the Joint Stock Company in 2001. Now, it is operating under Number of Business Registration No. 0302327629 with Chartered Capital of VND 182,854,360,000. The company was listed on The Ho Chi Minh Stock Exchange (HOSE) in 2009.

Total Revenue in 2017: 2,178 Billion VND
Total profit
before tax in 2017: 178 Billion VND


Traphaco Joint Stock Company’s precursor was medicine production group of the Railway Health Department, which was established in 1972. It was equitized in 1999, namely TRAPHACO JOINT STOCK COMPANY. Currently, it is operating under business registration No. 0100108656, granted by Ha Noi Department of Planning and Investment with chartered capital of VND 414,536,730,000. The company has listed on HOSE with stock symbol of TRA. It is now one of the leading companies in pharmaceutical industry in Vietnam. It is the first enterprise in the North having the largest modern technology in production.

Total Revenue in 2017: 1,870 Billion VND
Total profit
before tax in 2017: 323 Billion VND


The forerunner of Hai Agrochem JSC was South Plant Protection Material Company and was established in 1986 under form of State Owned Enterprises. Since 2005, it has been transformed to the Joint Stock Company. Currently, it is operating under Business Registration No. 0301242080 with Chartered Capital of VND 1,826,827,990,000. It was listed on the Ho Chi Minh Stock Exchange (HOSE) in 2010 with Stock symbol of HAI. Head office of the company is located at No. 28, Mac Dinh Chi Street, Da Kao Ward, District 1, Ho Chi Minh City, Vietnam. It built a distribution system in many cities and provinces.

Total Revenue in 2017: 1,721 Billion VND
Total profit
before tax in 2017: 49 Billion VND


Pymepharco was established in 1989 as a state owned company. In 2016, it was equitized to become a joint stock company. Now, it is operating with the chartered capital of vnd 652,275,000,000 and labour workforce of more than 1,200 people. On 8th November, 2017, the company’s stocks were listed on hose following decision no. 389/qd-sgdhcm. It is engaged in manufacturing and trading, importing, exporting pharmaceutical, medical equipment, materials and related chemicals. Its material is often imported from USA, Australia, India, Spain And France.

Total Revenue in 2017: 1,622 Billion VND
Total profit
before tax in 2017: 359 Billion VND


It is a one member limited liability company which was established in 1993. It is a subsidiary of Vietnam National Chemical Corporation. Currently, it is in the process of equitization. After the equitization, it will operate under English name “South Basic Chemicals Joint Stock Company” and increase chartered capital from 143,000,000,000 VND to 442,000,000,000 VND. It is specialized in manufacturing sodium hydroxide, aluminum hydroxide, ammonium hydroxide, sulfuric acid, aluminum sulfate, potassium alum, ammonium alum…

Total Revenue in 2017: 1,466 Billion VND
Total profit
before tax in 2017: 308 Billion VND


Ha Tay Pharmaceutical JSC was established in 1965 as a State owned company, after that it was equitized to joint stock company in 2001. Currently, it still runs under form of joint stock company with business registration No. 0500391400 (same as the tax code). Its chattered capital has remained VND 62,826,020,000 since 2011 till now. The company still focuses on manufacturing, trading and import – export of medicines, material for medicine producing. According to the company’s staff, majority of materials for the production are imported directly from China, Taiwan…

Total Revenue in 2017: 1,480 Billion VND
Total profit
before tax in 2017: 96 Billion VND


It was established since 1975 under name Central Pharmaceutical Enterprise No 24; it was known as a member of Vietnam Pharmaceutical Corporation. In 2002, it officially changed its type of business from state-owned enterprise into joint stock company as well as renamed as “MEKOPHAR CHEMICAL PHARMACEUTICAL JSC”. In 2006, the company debuted its IPO, with stock code MKP, and it was listed and exchanged its stock on HOSE market in 2010. However, on 12 Jul 2012, it cancelled all shares voluntarily on HOSE to restructure the company. 

Total Revenue in 2017: 1,367 Billion VND
Total profit
before tax in 2017: 147 Billion VND


Domesco Medical Import-Export JSC, founded in 1985 as a state owned company. Up to 2003 it changed the business type into joint stock firm. After many times of changes about name, capital and license and shareholders the company is now operating under the business registration number 1400460395, granted by Dong Thap Province Department of Planning and Investment with the charter capital VND 347,274,650,000. Two shareholders STATE CAPITAL INVESTMENT CORPORATION (Vietnam) and CER INTERNATIONAL SPA (Chile) are holding the large shares. Its head office is located at No. 66, National Road 30, My Phu Ward, Cao Lanh City, Dong Thap Province, Vietnam.

Total Revenue in 2017: 1,340 Billion VND
Total profit
before tax in 2017: 260 Billion VND


The pharmaceutical industry is expected to grow more and more as the quality of life and health care needs are increasing. Policies on pharmaceutical law and health insurance law are also more open, thus attracting many large investors who are from other industries.

Currently, there are 6 large non-pharmaceutical companies are preparing to enter this industry, namely Mobile World (MWG), FPT Retail (FRT), Digiworld (DWG), Nguyen Kim, Masan Group (MSN) ), Vingroup (VIC)

Large foreign pharmaceutical companies have also conducted market researches and handshakes with pharmaceutical companies in Vietnam to shorten their entry time. The entry of foreign pharmaceutical corporations into production in Vietnam (Sanofi, Abbott, Taisho ...) due to the low cost of production together with many incentives has made pressure from potential competitors become significant. These companies tend to conduct M&A to take advantage of the available resources to reduce costs and shorten the entry time.