Adamed Group signs largest Polish direct investment in Vietnam
Adamed Group signs largest Polish direct investment in Vietnam
Adamed Group spent $50 million on acquiring a controlling stake in Davipharm Co., Ltd., Vietnam’s fastest-growing pharmaceutical, marking the largest direct Polish investment in Vietnam to date.
According to information published on Adamed Group’s website, the purchase agreement was officially signed by Adamed general director Małgorzata Adamkiewicz and Pham Tai Truong,founder of Davipharm, on November 28 in Hanoi, in the presence of the presidents of both countries—Andrzej Duda and Tran Dai Quang—during the official visit of the Polish President, accompanied by a business mission organised by the Ministry of Economic Development and the Polish Investment and Trade Agency.
The deal provides an extensive investment plan, including the transfer of Adamed’s knowledge and expertise.
“Davipharm manufactures a wide range of medicinal products for both the Vietnamese and neighbouring markets. In view of the scale of this transaction and further investments into the development of the company, we consider our investment to be a launching pad for the further dynamic expansion of Adamed Group in the Asia-Pacific region,” said Adamkiewicz.
Regarding Davipharm, Truong stated that Adamed Group’s investment is an opportunity for continued dynamic development. Co-operation with such an experienced partner will enable Davipharm to reinforce their position in the local market and to expand in the Asia-Pacific region.
Established in 2004 in Binh Duong province, Davipharm manufactures 300 medicinal products in most therapeutic classes. It is considered the fastest-growing company in the Vietnamese pharmaceutical market. It exports its products to the Philippines, Cambodia, and Myanmar.
Adamed, which was founded in 1986, specialises in providing patients with medical goods which are used to treat chronic modern-age diseases in a number of therapeutic areas, namely allergology and pulmonology, angiology, diabetology, and urology, among others.
Adamed began exporting its products in December 2003. To date, Adamed products are currently available in 60 markets around the world.
The investment in Vietnam forms part of the internationalisation of the company. In 2016, it recorded a 15 per cent increase in export revenue.
