A producing pharmaceutical drugs plant breaks ground

A ground breaking ceremony was held March 5 by Tien Giang Pharmaceutical Joint Stock Company (Tipharco) as the investor at Tan My Chanh industrial cluster (My Tho city).

At the ground breaking ceremony

The plant was built on an area of about 1,2 hectare with total investment capital of about 70 billion VND, constructed in 270 days by a joint venture The Vu - Quang Tung company. This is a joint project between the Ho Chi Minh city Business Club and Tien Giang.

The Chairman of the Board’s directors - Chief Executive Officer of Tipharco Pham Quang Binh said that the copmpany’s total revenue will reach about 300 billion VND per year when the plant goes into operation at full capacity. Initially, the plant produces about 30-40 products, raw materials are produced from domestic pharmaceutical sources and  some imported from abroad.

"The additional investment in the producing pharmaceutical drugs plant of Tipharco is in the company's business strategy and consistent with Vietnam Pharmaceutical Development strategy. As the strategy of the Ministry of Health, the use of internal medicine in hospitals reach 80 percent including herbal medicines accounted for 30 percent, until 2020 and 2030 vision”, Binh added.

By Minh Thanh-Translated by N.Huu