CBF Pharma enjoys 58 percent annual growth
CBF Pharma enjoys 58 percent annual growth
CBF Pharma Company Limited, a Champassak based pharmaceutical manufacturing company, looks set to produce and distribute more medicines to supply the rising demand of society nationwide.
As the company becomes more recognised locally and regionally, the board of management at CBF is aiming to increase its reputation among customers by increasing the categories of medicines it offers to meet the requirements of members of the public.
At an official ceremony to mark the 20th anniversary of the company's operations, Director of CBF Company Limited, Dr Chinda Vongsouly said that CBF was formally established in January 1995 under the authorities of Champassak province and Binh Dinh province of Vietnam.
“Initially, around 50 kinds of medicines were produced and distributed but currently more than 200 categories of medicines are now being manufactured,” he said.
In 2003, the company primarily used the method of Good Manufacturing Practice (GMP) to authorise the process of medical manufacturing techniques.
In 2004, CBF was awarded an Asean GMP certificate for the manufacturing of vaccines to prevent infectious diseases.
CBF was considered as the first ever and only medical manufacturing company in Laos to have received such an award, which was officially handed over by the Lao Ministry of Heal th.
“In 1995, CBF was able to earn only 100 million kip but currently it is earning about 100 billion kip, with a total of 37 billion kip going towards the government budget,” Dr Chinda said.
He added that CBF will work harder to focus on capacity building for specialists and medical personnel to ensure the productivity, quantity and quality of medical products which are manufactured by the company.
In 1995, there were 24 employees working with CBF, but now it has over 300, of which about 35 percent are medical specialists and experts.
While attending the ceremony, Minister of Health, Prof. Dr Eksavang Vongvichit, also praised the company for its great achievements over the past 20 years in producing a wide range of medicines for society.
“Challenges have already been faced by the company and there are tougher issues to be faced over the years to come. It is believed that things will be difficult however the board of management at CBF will be able to deal with it,” Prof. Dr Eksavang said.
Laos is working on preparations for regional integration as part of Asean and also increasing trade with other countries in the fields of economy, politics, culture and other important issues.
However improvements to the nation's private business operations will be required if they are to profit from integration and other regional developments.
Deputy Governor of Champassak province, Mr Somsanith Bouttivong, and some senior officials from Vietnam were also present at the ceremony.
To mark the achievements of CBF, the government awarded the company with Labour Classes I, II and III medals while Issara Class III Medals were awarded to groups of company employees and individuals respectively.
