Imexpharm recognized at Top 50 Corporate Sustainability Awards

As a publicly-listed pharmaceutical company with significant market capitalization in the industry, Imexpharm has effectively leveraged its sustainable development model within the pharmaceutical sector. For its efforts, the company has been honored at the Top 50 Corporate Sustainability Awards 2023 (CSA 2023). Imexpharm was also recently recognized for its inclusion in the VN Sustainability Index (VNSI) by the Ho Chi Minh City Stock Exchange (HOSE) in July 2024.

Since the early days of its establishment, Imexpharm has pursued the goal of sustainable development for the benefit of the community. With this focus, it stands as Vietnam’s largest pharmaceutical company with EU-GMP certification, boasting three EU-GMP facilities and eleven EU-GMP production lines. Its early investment in high-quality manufacturing technology has facilitated continuous growth and established Imexpharm as the top provider of antibiotics in Vietnam.

Imexpharm currently holds a leading competitive advantage over domestic pharmaceutical companies through its strategy of building EU-GMP certified facilities and making substantial investments in research and development (R&D). The company is leading the trend in EU-GMP factory investments and is well-positioned for a golden period of growth, having already established four manufacturing plants that meet international quality standards.

“We believe that pursuing sustainable development goals will enable our company to continue achieving high growth by providing the market with Vietnamese pharmaceutical products under the Imexpharm brand that meet European quality standards,” said People’s Doctor, Pharmacist Tran Thi Dao, General Director of Imexpharm.

Mr Nguyen An Duy was honored to recieved the award which recognizes Imexpharm’s sustainable development strategy for the benefit of the community. Photo: Imexpharm

The healthcare sector and pharmaceutical companies play a crucial role in achieving the United Nations Sustainable Development Goals (UN SDGs), to foster community prosperity. With a vision of long-term growth and the motto “Sharing for Sustainability”, Imexpharm’s sustainable development strategy is built on five core pillars: People, Environment, Prosperity, Collaboration, and Building a Strong, Compassionate Organization.

Imexpharm has achieved significant environmental milestones through its comprehensive sustainability practices, including energy savings, medical waste management, and green initiatives. All of its facilities are equipped with wastewater treatment systems that meet strict standards. These systems ensure that all wastewater is treated under ISO 14001:2015 standards before being released into the environment. On the social front, the company actively fulfills its social responsibilities by providing stable, sustainable employment, contributing to local economic growth, meeting tax obligations, and participating in various social welfare programs.

As an early public company listed since 2006, Imexpharm is committed to becoming a leader in sustainable development across all operations. This dedication is evidenced by the numerous awards the company received in 2023, including: Top 10 mid-cap companies with the best corporate governance; 50 Best Listed Companies in Vietnam 2023; Top 10 reputable pharmaceutical manufacturing companies in 2023; Ngoi Sao Thuoc Viet (Vietnam Pharmaceutical Star) Award, Top 50 Typical Sustainable Development Enterprises; Top 5 Best Workplaces in Healthcare; the “Board of The Year” Award 2023 by the Vietnam Institute of Directors (VIOD) for its good and diverse governance structures; and Imexpharm’s stock being ranked for the second consecutive year in the Top 20 Sustainable Development Stocks.

Concurrently, the company has achieved record-breaking business results, with a 17.5 per cent annual compound growth rate in EBITDA (earnings before interest, taxes, depreciation, and amortization) over the past five years, positioning it toward its goal of reaching half a billion US dollars in revenue. These achievements underscore and validate Imexpharm’s corporate governance model, which is becoming increasingly scientific and professional. As a leading Vietnamese pharmaceutical company, Imexpharm meets international standards of good governance and aligns with its sustainable development strategy based on ESG (environmental, social, governance) criteria.

“Investing in ESG is an opportunity to demonstrate our company’s vision and mission in addressing community issues,” said Dr. Dao. “This foundation has enabled us to promote sustainable practices, thereby fostering innovation and operational as well as business efficiency in line with international standards.”

Imexpharm participated in the “For a Green Vietnam” program with 500 saplings planted in the coastal city of Nha Trang. Photo: Imexpharm

The company is making strides towards a more sustainable future by incorporating ESG factors into its development strategy. This holistic approach involves assessing environmental impacts from the outset of drug development and product formulation. It encompasses the use of less toxic chemicals, the pursuit of more efficient production methods, and the design of processes to minimize waste. Additionally, the company is establishing a green manufacturing foundation, aiming to reduce environmental impact during production by utilizing renewable energy sources, minimizing water usage, and optimizing processes. At the same time, Imexpharm is committed to creating a sustainable supply chain, ensuring that raw materials are sourced responsibly and that transportation minimizes emissions, which are crucial aspects of a sustainable supply chain.

Imexpharm’s manufacturing experience and EU-GMP certified production lines equip the company with the capability to meet international quality standards, opening opportunities to join the global pharmaceutical supply chain. With high-quality products that meet European standards, Imexpharm has successfully exported to new markets such as Mongolia and signed export contracts with markets including Singapore, Malaysia, the Philippines, and Hong Kong (China). These strategies lay the groundwork for the company’s vision for 2030, with the expectation that revenue will triple, marking a significant step in solidifying Imexpharm’s position in the global market.

The achievements of leading pharmaceutical companies like Imexpharm contribute to realizing the development strategy of the pharmaceutical industry for the period to 2030 and the vision for 2045, aiming to position Vietnam as a high-value pharmaceutical production hub in the region.

“Integrating ESG principles requires significant investment and effort,” Dr. Dao added. “Balancing profitability with environmental sustainability and social responsibility in the pharmaceutical sector can be challenging. Nevertheless, pharmaceutical companies that embrace ESG principles will be well-positioned for long-term success and to contribute to a prosperous and sustainable community.”

The Top 50 CSA 2023, organized by the Nhip Cau Dau Tu – The BusinessReview magazine, aims to establish data on sustainable development, assisting the government and relevant social organizations in formulating practical policies to support businesses in their sustainable growth. This effort aligns with Vietnam’s commitments at the 26th UN Climate Change Conference (COP26) to reach net-zero emissions by 2050. It also emphasizes the importance of addressing climate change through initiatives in clean energy development, sustainable infrastructure, smart water management, and ecosystem resource management.

With 14 award categories based on the three ESG pillars of environment, social, and governance, the program acknowledges and honors companies across all three sectors – FDI, listed, and unlisted – that contribute to sustainable development, environmental friendliness, and social equity.