Pharma firms see profits soar post-Covid

By Tat Dat   January 29, 2023 | 06:54 pm PT
Pharma firms see profits soar post-Covid
People work in a laboratory to make new drugs. Photo courtesy of DHG
Many pharmaceutical firms have reported record profits in 2022 thanks to high demand for drugs and other healthcare products post-Covid.

DHG Pharma reported a profit of VND988 billion (US$42.1 million), a 27% increase from 2021 and 29% higher than the management’s target. It is the highest profit it has reported since it started making its accounts public in 2005.

OPC and Imexpharm also earned record profits.

OPC’s profits increased by 16% from 2021 to over VND140 billion, and Imexpharm’s by 24% to VND230 billion.

High demand for healthcare products following the pandemic was the main reason for the soaring profits.

A Vietnam Report survey in October-November found that around 90% of businesses that manufacture, distribute and sell pharmaceutical products reported higher revenues and around 80% reported profit growth in the first nine months of 2022.

Besides, they also benefited from government policies to support drug retailers and modern drugstores.

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