Indian company seeks to make cancer drugs in Vietnam

Dharmesh Shah, its chairman, said during a meeting with Prime Minister Pham Minh Chinh in New Delhi on Wednesday: "We have built a similar center in India, which has proven a success. Now we want to produce drugs to treat cancer in Vietnam."

The drugs he wants to make in Vietnam would have less side effects than those currently sold in the market, he said and hoped people with low incomes could benefit from the data center.

BDR plans to treat cancer with biological therapy instead of chemotherapy, using living organisms to act against cancer cells, while chemotherapy utilizes chemicals to destroy them.

"I hope to find ways for people to receive affordable treatment, and for pharmaceuticals made in Vietnam to be exported to neighboring countries and the world."

He promised to transfer the technology to produce the drug to Vietnam.

Chinh praised BDR Group's initiative, saying it is aligned with Vietnam's strategy to combat cancer.

Vietnam, with a population of 100 million, has a relatively high incidence of cancer, and BDR should build a drug manufacturing facility and establish a distribution system in the country, he said.

BDR, established in 2002, is the biggest manufacturer of cancer drugs in India with an 80% market share. It has nine factories in India and one in Algeria.

The company posted $250 million in revenues and $90 million in profits last year.

It opened a representative office in Vietnam in 2022 and has been providing ingredients for making cancer drugs to local manufacturers.

Also on Wednesday Chinh met with the chiefs of SMS Pharmaceuticals and Sri Avantika, a conglomerate with interests in mining, pharmaceuticals and infrastructure.

Vietnam Prime Minister Pham Minh Chinh meets with P. Ramesh Babu, chairman and CEO of SMS Pharmaceuticals, in New Delhi on July 31, 2024. Photo by Nhat Bac

The two companies are seeking permits to build a high-tech pharmaceutical industrial park in the central Thanh Hoa Province with an initial investment of $200 million on a 500-hectare site.

The park is expected to attract $4-5 billion in investment from drug manufacturers who will export their products to the U.S. and Europe.

"We want to make the best infrastructure for Vietnam’s pharmaceutical industry and hope many investors will come," P. Ramesh Babu, SMS chairman and CEO, said.

Chinh said he supports the idea and that there is large demand for drugs in Vietnam and the rest of Southeast Asia.

Chinh is on a state visit to India from July 30 to August 1 at the invitation of Prime Minister Narendra Modi.

Vietnam and India established a Comprehensive Strategic Partnership in 2016.

Bilateral trade surged 2.5 times since then to $15 billion last year.