In a significant development for Vietnam’s pharmaceutical industry, a major merger and acquisition (M&A) deal has taken place involving the country’s leading pharmaceutical companies. China’s Livzon Pharmaceutical Group Inc. has signed an agreement to acquire approximately 64.81% of the shares of Imexpharm Pharmaceutical Joint Stock Company (stock code: IMP) through its Singaporean subsidiary, Lian SGP Holding Pte. Ltd. The total value of this deal is estimated to be over VND 5,730 billion (equivalent to approximately USD 220.6 million).
This acquisition marks a strategic move by Livzon to expand its global presence and underscores the growing attractiveness of Vietnam’s pharmaceutical industry to foreign investors.
Deal Details and Parties Involved
As per the disclosed information, Lian SGP Holding Pte. Ltd. will purchase Imexpharm shares from existing shareholders, including SK Investment Vina III Pte. Ltd. (owned by South Korea’s SK Group) holding 47.69%, Sunrise Kim Investment JSC with 9.75%, and KBA Investment JSC with 7.37%.
Upon completion of the transaction, expected within nine months from the signing date, Imexpharm will officially become an indirect subsidiary of Livzon, and its financial results will be consolidated into the Chinese group’s financial statements.
Notably, this marks a significant divestment by SK Group from Imexpharm, following their strategic portfolio adjustments involving other large enterprises in Vietnam. SK Group’s decision to sell their shares reflects a restructuring of their investment strategy in the region.
Livzon Pharmaceutical Group is a prominent Chinese pharmaceutical company.
Established in 1985 and headquartered in Zhuhai, China, Livzon Pharmaceutical Group is a leading pharmaceutical company engaged in the research, development, manufacturing, and marketing of pharmaceutical products, biopharmaceuticals, traditional Chinese medicines, and pharmaceutical raw materials. With a workforce of over 9,000 employees and listings on both the Hong Kong and Shenzhen stock exchanges, Livzon boasts strong financial capabilities and extensive market experience.
In recent years, Livzon has demonstrated a clear ambition to expand its international business operations to diversify its revenue streams and mitigate risks associated with the domestic market. The company’s overseas revenue has grown significantly, accounting for nearly 15% of its total revenue in 2024. The acquisition of Imexpharm is seen as a strategic move to quickly gain a foothold and capture market share in one of the fastest-growing pharmaceutical markets in Southeast Asia.
Imexpharm – A Gem in Vietnam’s Pharmaceutical Industry
Imexpharm, on the other hand, is one of Vietnam’s leading pharmaceutical companies, originally founded as Pharmaceutical Company Grade II in 1977 in Dong Thap. The company has established a strong reputation with a diverse portfolio of products, particularly in the field of antibiotics, where it holds approximately 10% of the domestic market share.
Imexpharm has witnessed remarkable growth in recent years, investing heavily in state-of-the-art manufacturing facilities that meet the stringent standards of the European Union (EU-GMP). The company currently owns several high-tech factories, enabling the production of high-quality pharmaceuticals for both the domestic market and future export endeavors.
Imexpharm holds a strong market presence with approximately 10% domestic market share.
In terms of financial performance, Imexpharm reported net revenue of VND 2,205 billion in 2024, an 11% increase from the previous year, along with a net profit of VND 320 billion. The company aims to achieve an average annual revenue growth of 15% until 2030 and is planning to construct additional factories to expand its production capacity for cardiovascular, diabetes, and digestive medications.
This M&A deal is expected to bring about significant changes for both Imexpharm and Vietnam’s pharmaceutical industry. With Livzon’s financial and technological backing, Imexpharm will gain access to additional resources to accelerate its investment projects, enhance its research and development capabilities, and diversify its product portfolio. The combination of Imexpharm’s manufacturing expertise and distribution network in Vietnam, coupled with Livzon’s R&D capabilities and management experience, has the potential to create a powerful synergy, elevating the company’s competitive position.
For Vietnam’s pharmaceutical industry, this deal underscores the immense potential of the market, characterized by a large population, rapid urbanization, and a growing demand for high-quality healthcare products. Attracting prominent foreign investors not only brings capital but also advanced technology and management expertise, contributing to the overall development of the industry. This move aligns with the country’s goal of becoming a high-value pharmaceutical production hub in the region.
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