HCMC - United Pharma (Vietnam) Inc. on Thursday started work on a US$40-million pharmaceutical factory at Vietnam Singapore Industrial Park 2 in the southern province of Binh Duong, and will inaugurate this facility in September next year.
United Pharma begins work on US$40-million factory
By Binh Nguyen - The Saigon Times Daily
Benedicto Caleda (L, seated) of United Pharma (Vietnam) Inc. signs a development contract for the second facility with Hironobu Iriya, president and CEO of Toyo-Thai Corporation Plc., at the ground breaking ceremony in Binh Duong Province on Thursday - Photo: Mong Binh HCMC - United Pharma (Vietnam) Inc. on Thursday started work on a US$40-million pharmaceutical factory at Vietnam Singapore Industrial Park 2 in the southern province of Binh Duong, and will inaugurate this facility in September next year.
The company’s general director, Benedicto Caleda, said the investment in the 3.5-hectare project would go to structure building, equipment, and training.
Caleda told reporters after the groundbreaking ceremony that the facility would produce a lot of general drugs for headache, cold, flu and cough as well as products for primary care, pregnant women, diabetes and heart.
About 80% of the output will for local sale and the rest for export, Caleda responded to the Daily’s question about the consumption markets for the second factory of United Pharma in the country.
The drug maker’s export markets include Singapore, Cambodia and Thailand, Caleda said. “Our objective is to have US$150-200 million (in turnover) in about three to four years’ time.”
Caleda said the upcoming facility would be the best among the 12 of Unilab Group, the parent company of United Pharma Vietnam in the region.
Caleda said this project would apply Good Manufacturing Practice (GMP) and Pharmaceutical Inspection Co-operation Scheme (PICS), the latter being a global standard similar to the manufacturing standards of the U.S. Food and Drug Administration and European countries.
Caleda said the demand in Vietnam was big but drug consumption was one of the lowest in the region. Therefore, there are a lot of opportunities for the country’s medicine industry to develop.
“The market is growing by about 20% and we are growing more than that in the last five years... So we see the market growing really so fast,” Caleda said.
Caleda said the second project marked the company’s investment and operation expansion in Vietnam. “We are bringing more investment to Vietnam because we believe in the economy of Vietnam.”
United Pharma built its first factory in HCMC in 1997 at a cost of US$5-6 million and in line with the WHO-GMP standards.
Pham Khanh Phong Lan, deputy director of the HCMC Department of Health, told the groundbreaking ceremony that Vietnam now had 98 GMP pharmaceutical factories, including 22 in HCMC. Lan said local production was able to meet only 49% of the demand for pharmaceutical products in Vietnam.