IMEXPHARM CORPORATION ANNOUNCES SECOND QUARTER AND
FIRST HALF 2026 RESULTS
2Q2026
• Revenue and profit recorded positive growth compared with Q1: gross revenue increased by 6%, net revenue rose by 3%, and profit before tax grew by 15%;
• Gross profit margin improved to 41.9%.
1H2026
• Gross revenue and net revenue moderated by 10% year-on-year amid a volatile market, while profit before tax increased by 5% year-on-year as operational efficiency and portfolio profitability continued to improve. ;
• EBITDA increased by 1% year-on-year; EBITDA margin reached 24.6%, up 2.7 percentage points year-on-year.
Ho Chi Minh City – July 20, 2026, Imexpharm Corporation (“Imexpharm” or the “Company”, IMP.VN), one of Vietnam’s leading pharmaceutical companies, has announced its first half results for the six months ended 30 June 2026 (the “Reporting Period”).
Against the backdrop of the volatile pharmaceutical market driven by several changes in regulatory policies and intensifying competitive pressure, Imexpharm maintained profit growth, improved profitability indicators, and gradually restored growth momentum in Q2 through enhanced operational efficiency and cost optimization.
“In the long term, a transparent and tightly regulated market will be the driving force behind the development of quality products. I believe that the challenges we are experiencing today are also opportunities for Imexpharm to demonstrate the strength of innovation, steadfastness, and perseverance in fulfilling our mission of ‘providing highly effective solutions for community health’, contributing to elevating the position of Vietnam’s pharmaceutical industry on the regional map.”, said People’s Doctor, Pharmacist Tran Thi Dao, General Director of Imexpharm.
Key Financial Highlights
In the second quarter of 2026, Imexpharm recorded gross revenue of VND 666 billion and net revenue of VND 562 billion, up 6% and 3%, respectively, compared with Q1, driven by the recovery of the ETC channel as the plan to meet demand for penicillin injectables at IMP3 resumed after the plant maintenance period in Q1. For the first half of 2026, gross revenue and net revenue reached VND 1,295 billion and VND 1,108 billion, respectively, down 10% year-on-year. This was attributable to volatility in the pharmaceutical business environment across both OTC and ETC channels since the beginning of 2026, which significantly slowed overall market growth compared with previous years. In particular, sales of local products in the two most recent consecutive quarters grew by only 1%–2% year-on-year (IQVIA MAT Q1/2026).
In the retail distribution channel, regulations monitoring the purchase and sale of prescription drugs directly affected Rx sales, while new regulations on e-invoices, tax management for household businesses, inspections and examinations of the quality of medicines and functional foods, and compliance with good pharmacy practice standards at retail pharmacies nationwide created temporary pressure on purchasing power at pharmacy and drugstore channels. In this context, Imexpharm’s OTC channel revenue for the first six months decreased by 13% year-on-year. The Company accelerated sales through chain pharmacies, with 1H2026 revenue from this channel increasing by 17% year-on-year.
ETC channel revenue rebounded strongly in Q2, increasing by 21% compared with Q1, although competition continued to intensify as the market saw the entry of several newly EU-GMP-certified manufacturing facilities. 1H revenue declined by 9% year-on-year, but the improvement trend in Q2 provides a foundation for Imexpharm to accelerate in the second half of the year. The Company is focusing on promoting product lines that require complex manufacturing technologies, such as EU-GMP injectable products and dispersible tablets, to strengthen its hospital-channel market share and reinforce profit margins.
Gross profit in 1H2026 improved significantly, with gross profit margin reaching 41.7% compared with 39.8% in the same period last year, thanks to production optimization initiatives aimed at reducing machine operating costs and enhancing production efficiency. Sales policies and promotional programs management continued to be centrallized, driving an 11% year-on-year decrease in selling and administrative expenses . As a result, profit before tax reached VND 221 billion, up 5% year-on-year and fulfilling 44% of the annual plan approved by the General Meeting of Shareholders.
EBITDA increased by 1% year-on-year; EBITDA margin reached 24.6%, up 2.7 percentage points year-on-year.
Key Business Highlights
In 1H2026, Imexpharm launched 4 new products to the market and added 16 new projects to its product portfolio, bringing the total number of ongoing R&D projects to 165.
The launch seminars for the new product IMEZIN, themed “Dual analgesic and anti-inflammatory efficacy in managing musculoskeletal disorders: From recommendations to practice”, held in May and June, attracted more than 3,000 pharmacists and healthcare professionals nationwide through both in-person and online participation.
Imexpharm co-organized a scientific conference themed “Appropriate and quality antibiotic use in the treatment of community-acquired respiratory infections”, bringing together leading experts to update advances in the treatment of respiratory infections, rational antibiotic use, and the role of quality-standard medicines in clinical practice. The conference attracted nearly 200 doctors and healthcare professionals from hospitals and medical centers in Dong Thap Province.
Imexpharm also maintained its annual collaboration with Can Tho University of Medicine and Pharmacy by organizing the scientific seminar “Pharmacy professional competencies in the digital era: Employment opportunities in manufacturing, quality, and business”, contributing to career orientation and human resource development for the pharmaceutical industry.
Imexpharm was honored in two categories: Products and Leading Responsible Consumption, and Outstanding Corporate Governance, marking the third consecutive year the Company has been listed among the CSA Top 50 Outstanding Sustainable Development Enterprises organized by Nhip Cau Dau Tu Magazine.
On June 23, 2026, Livzon Pharmaceutical Group (Livzon) officially joined Imexpharm’s Board of Directors with two representatives who are senior executives with expertise in pharmaceutical technology and financial governance at the Group. The two sides have actively commenced cooperation in the areas of developing a high-value product portfolio for IMP5 and new drugtechnology transfer. Livzon’s participation is expected to create a foundation for Imexpharm’s long-term growth.
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.
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