More and more pharmaceutical companies are mulling over scrapping their FOL Photo: Dung Minh After about one year of being a foreign partner of Vietnam’s biggest publicly traded drug maker Hau Giang Pharmaceutical JSC (DHG), Taisho Pharmaceutical Holdings, one of the largest pharmaceutical firms in Japan, is preparing to launch products in the Vietnamese market. Holding around a 32-per-cent stake in DHG, Taisho will benefit from a nationwide network of 12 distribution affiliates and 24 branches to gain market share. Opportunities for the Japanese firm to extend its footprint in the lucrative local pharmaceutical market have been boosted by DHG’s decision to scrap its foreign ownership limit (FOL), making it the latest FOL removal case. According to State Capital Investment Corporation’s (SCIC) divestment plan, it will divest the state’s stake in DHG in 2018-2020. SCIC now holds a 43.31-per-cent stake in DHG. Gains or losses Although lifting the FOL is a new move for Vietnamese pharma firms, illustrating their ambitions to go international, the success of the future marriage between local firms and potential foreign partners remains a concern. “In removing the FOL, Vietnamese firms will need to eliminate a couple of their registered business lines, such as local distribution… Read full this story
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