US healthcare firm Abbott acquires Vietnam drug manufacturer

By Phan Anh   August 31, 2016 | 11:31 pm PT
Abbot acquired Glomed for an undisclosed amount. 

Abbott, a global healthcare company based in the U.S., has acquired Glomed Pharmaceutical Company Inc (Glomed), a leading Vietnamese drug manufacturer, Vietnam News Agency reported Thursday.

The value of the deal was not disclosed.

“The company intends to build on Glomed’s success to date to ensure long-term growth in the country,” Ngo Van Huy, general manager of Abbott Vietnam’s pharmaceuticals business, said, adding that the deal helps further strengthen Abbott’s ability to serve patients in Vietnam with innovative, high-quality healthcare solutions.

After the acquisition of Glomed, Abbott, which also has leading position in nutrition and a portfolio in medical devices and diagnostics, will focus on anti-infectives; gastroenterology; pain management; cardiovascular, respiratory and women’s health; and over-the-counter products.

Photo from Glomed

Photo from Glomed

The acquisition makes Abbott one of the top 10 pharmaceutical companies in the Southeast Asian nation, where it is widely known as the supplier of formula milk.

Glomed was established in 1995 and currently has two manufacturing plants in Vietnam’s southern province of Binh Duong and five branches across the country.

Abbott was formed in 1888. It has about 100 manufacturing facilities globally and is operating in around 150 countries.

The company has run an office in Ho Chi Minh City since 1995.

Related news:

Vietnam Pharmaceutical Corporation to go public in June

Japanese pharma invests nearly $100 million in Vietnamese medicine maker

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