IMEXPHARM CORPORATION ANNOUNCES FIRST QUARTER 2026 BUSINESS RESULTS
• Profit before tax reached up 8% year-on-year amid top-line pressure.
• Gross margin improved to 41.5%, driven by production optimization and effective COGS control.
• EBITDA increased by 3% year-on-year; EBITDA margin reached 23.7%, up 2.5 percentage points compared to Q1/2025.
Ho Chi Minh City, April 20, 2026 - Imexpharm Corporation (“Imexpharm” or the “Company”, IMP.VN), one of Vietnam’s leading pharmaceutical companies, announced its business results for the first quarter of 2026.
Amid a challenging pharmaceutical market marked by a wave of new policies and regulations, along with intensifying competition across distribution channels, Imexpharm delivered an 8% year-on-year increase in profit, improved its gross margin to 41.5%, and maintained strong adaptability and flexibility in a highly volatile business environment.
Key financial highlights
In the first quarter of 2026, Imexpharm recorded gross revenue of VND 629 billion, down 6% year-on-year, fulfilling 20% of the full-year revenue target submitted to the Annual General Meeting of Shareholders. Net revenue reached VND 546 billion, down 8% year-on-year, amid a slowdown in overall market growth.
COTC customers remained cautious in early 2026 amid new regulations on tax management and tighter prescription drug controls, maintaining moderate inventory levels. As a result, OTC revenue declined by 7% year-on-year. Stable market demand is expected to support the recovery and growth of the OTC channel in the coming quarters.
In the first quarter of 2026, the market saw the entry of several new EU-GMP-compliant manufacturers, intensifying competition in this segment. ETC revenue declined by 11% year-on-year as the Company balanced revenue growth with margin optimization.
In terms of profitability, gross profit improved notably, with gross margin reaching 41.5% (compared to 39.5% in the same period last year), driven by enhanced manufacturing efficiency and the implementation of centralized procurement for promotional goods across the Company. Selling, General and Administrative expenses were tightly controlled, decreasing by 9% year-on-year, serving as a key factor in sustaining profit growth amid top-line pressure. As a result, profit before tax reached VND 103 billion, up 8% year-on-year; EBITDA reached VND 129 billion, up 3%, with EBITDA margin at 23.7%, an increase of 2.5 percentage points.
Key business highlights
In the first three months of 2026, Imexpharm continued to drive innovation by adding 8 new projects to its product pipeline, bringing the total number of ongoing R&D projects to 159, and launching one new product to the market.
The Company also actively participated in major medical scientific conferences, including the HCMC Respiratory Society Annual Congress (HRS 2026), which attracted over 500 in-person participants and 1,500 online attendees, and the 42nd Annual ENT Scientific Conference, gathering nearly 700 experts and doctors nationwide.
At the end of March, Imexpharm, in collaboration with the Dong Thap Department of Health, organized a training program to enhance clinical pharmacy capacity in hospitals, attracting 270 participants, including institutional leaders, heads of pharmacy departments, and clinical pharmacists. Through these initiatives, the Company continues to strengthen its role in sharing and disseminating knowledge within the medical community, while enhancing brand credibility built on professional expertise and quality.
Imexpharm continues to create sustainable value through community initiatives, including the “Spring at the border 2026” program, charitable activities at the Dong Thap Social Protection Center, and the planting of 50 mature cherry blossom trees in Da Lat.
The Company has also published its 2025 Annual Report on its website under the theme “The Rhythm of Health”, aligning with the nation’s transformation and advancing sustainably for the well-being of the community.
Market outlook
In 2026, the pharmaceutical market is expected to continue facing multiple challenges, including global geopolitical volatility affecting supply chains and raw material costs, pressure from interest rates and exchange rates, and intensifying competition in the EU-GMP manufacturing segment.
People’s Doctor, Pharmacist Tran Thi Dao, General Director of Imexpharm, shared: “Amid a challenging market environment, Imexpharm remains committed to a selective growth strategy, prioritizing efficiency and quality. With over a decade of pioneering investment in and operation of EU-GMP-compliant manufacturing facilities, along with continuous innovation capabilities, I am confident that Imexpharm will continue to achieve new milestones in scale and efficiency, delivering sustainable value to the community, shareholders, and stakeholders.”
Imexpharm will present its strategic priorities for the next phase at the Annual General Meeting of Shareholders on April 22, 2026, focusing on market expansion, innovation, and sustainable value creation.
About Imexpharm
Imexpharm is a leading pharmaceutical company in Vietnam, specializing in the manufacturing and distribution of high-quality antibiotics. With a 49-year track record, the Company has consistently remained at the forefront of the industry, driven by international partnerships and a commitment to the highest standards of safety and quality. Imexpharm has established a strong strategic and financial foundation to support growth in both domestic and international markets, and continues to expand its product portfolio into new therapeutic areas and healthcare segments. As of March 31, 2026, IMP’s share price has increased by 4% since the beginning of the year.
Note: Imexpharm reports revenue by individual channels based on gross revenue, in line with industry practice.
For more information, please contact:
Ms Le Thanh Hang, IR Director hanglt@imexpharm.com +84 287 304 8939