Imexpharm hosts 2023-2027 General Shareholders’ meeting

Imexpharm aims to become the leading European standard pharmaceutical manufacturer in Vietnam

Impressive results

On the morning of April 28, 2023, the Annual General Shareholders' Meeting for the term 2023-2027 of Imexpharm Pharmaceutical Joint Stock Company was held at its headquarters in Cao Lanh city center, Dong Thap province. Attending the event was Mr. Doan Tan Buu, Vice Chairman of Dong Thap Provincial People's Committee.

At the meeting, People's Doctor, Pharmacist Tran Thi Dao, Vice Chairman of the Board of Directors and General Director of Imexpharm, proudly announced the remarkable business results of 2022. The company's total revenue reached VND 1,668 billion, surpassing the planned target by 15%, with a notable growth rate of 29%. The pre-tax profit amounted to VND 291 billion, exceeding the goal by 6% and marking a 22% increase.

According to data from IQVIA, a reputable organization that records and ranks multinational pharmaceutical companies, 2022 was a remarkable year for Imexpharm with significant strides:

• Imexpharm ranked 11th among the Top 20 leading companies in the market (up one place from 2021), with OTC channel growth at 23% and ETC channel growth at 26%.
• In the Top 20 retail companies, Imexpharm made an impressive leap from 15th place in 2021 to 9th place in 2022, with a remarkable 42% growth compared to the same period. Imexpharm also ranked 11th in the Top 20 hospital channel companies, despite the significant challenges faced by the hospital channel during the pandemic.

Mr. Nguyen Quoc Dinh, Chairman of the Board of Directors, shared Imexpharm's achievements during the past term, emphasizing the challenges posed by the global economic recession of 2008–2012. Despite these challenges, the management and entire Imexpharm workforce persevered, maintaining and advancing operations across multiple areas: from product research and development and securing a steady supply of high-standard raw materials to implementing flexible sales and marketing strategies during the pandemic, all while fostering a high-quality, dedicated workforce. These efforts enabled Imexpharm to uphold its core strength - PRODUCT QUALITY - which stands as a significant achievement and a proud highlight of the 2018 – 2022 term.

Notable figures for the 2018-2022 term include:

• Compound annual growth rate (CAGR) of total revenue: 8.4%
• CAGR of OTC revenue: 5.3%, ETC revenue: 30.1%
• CAGR of pre-tax profit: 13.8%
• CAGR of Charter Capital: 7.8%, Owners’ Equity: 5.9%, Total Assets: 6.4%

In 2022, Imexpharm also received several prestigious recognitions in Vietnam, including: Imexpharm stock included in the VNSI Sustainable Development Index; Top 50 companies with the best business results in Vietnam; Top 10 Trusted Pharmaceutical Companies - Health and Medical Equipment Industry (Imexpharm ranked 4th); Top 50 Most Efficient Listed Companies in Vietnam; and Top 50 Vietnamese companies with attractive employer brands.

As a representative of the leadership of Đồng Tháp Province, Mr. Doan Tan Buu acknowledged Imexpharm's consistent efforts in actively supporting the province’s Covid-19 prevention activities. He also commended the achievements of the Board of Directors and Executive Board for the 2018-2022 term, recognizing their role in maintaining the operations of a major pharmaceutical manufacturer in the province and contributing to the provincial budget. Additionally, he praised Imexpharm as one of Vietnam's leading pharmaceutical companies, delivering high-quality products under the Imexpharm brand that meet European standards. Mr. Đoàn Tấn Bửu expressed his hope that, with its strong foundation, Imexpharm will continue to grow and expand even further in the future.

New development directions

During the meeting, shareholders approved several important resolutions, including the restructuring of the Board of Directors and the company's management model as follows:

• The Board of Directors was streamlined from 7 to 5 members, including one independent member and one executive member as General Director, providing a more comprehensive and diverse perspective for management.
• The Supervisory Board was dissolved.
• An Audit Committee was established under the Board of Directors, a model recommended by the 2020 Enterprise Law, which, based on international experience, will help clearly separate ownership from management, enhance risk management, internal control, and auditing within the corporate governance structure, providing shareholders and investors with high confidence.

New Board of Directors for the 2023 - 2027 term

Based on nominations from the Board of Directors and strategic investors holding a majority of shares, the meeting elected the new Board of Directors for the 2023-2027 term. The official results for the 2023-2027 term include the following five members:

• Mrs. Chun Chaerhan
• Pharmacist Tran Thi Dao
• Mr. Truong Minh Hung
• Mr. Chung Suyong
• Mrs. Han Thi Khanh Vinh

The Board of Directors immediately held its first meeting and announced that Mrs. Chun Chaerhan, CEO of SK Vietnam, would serve as Chairwoman for the 2023-2027 term. The company’s management team includes: Pharmacist Tran Thi Dao, reappointed as CEO to lead the company's operations, supported by four Deputy CEOs and one Chief Accountant, who were also reappointed for the new term. 

 

Upon assuming the role of Chairwoman of the Board of Directors, Mrs. Chun Chaerhan expressed her admiration for the vision and leadership of the previous Board and management team. She acknowledged the hard work and dedication of the entire Imexpharm team in building a solid foundation for the company’s sustainable growth. As the new Chairwoman, she reaffirmed her commitment to steering Imexpharm toward becoming Vietnam's leading manufacturer of antibiotics. The company will continue to pursue key initiatives, including the development of a new factory at Quang Khanh Industrial Park (Dong Thap) and other strategic projects. Imexpharm will leverage global resources and integrate advanced technology from SK Group (South Korea) to optimize operations and enhance corporate governance practices, ensuring alignment with the standards of multinational companies.

The General Shareholders’ Meeting also approved the strategic goals for the 2023-2027 term, aiming to double revenue in five years and maintain a pre-tax profit margin of 20% in the final year of the term. These goals are considered aligned with Imexpharm’s current capabilities.

The meeting concluded in an optimistic atmosphere, with shareholders, investors, the management team, and employees of Imexpharm looking forward to the company’s continued success. With strong commitments from the new Board of Directors, Imexpharm is poised for a breakthrough in becoming Vietnam’s number one pharmaceutical manufacturer of antibiotics.