RoK pharmaceutical firm transfers technology of 7 products to Vietnam
Genuone Sciences, the Republic of Korea’s leading pharmaceutical company, announced on February 26 that it signed a business agreement with Vietnam’s Imexpharm Joint Stock Company (IMP) on the transfer of technology for seven products, including medications for the treatment of cardiovascular and diabetes-related diseases.
Hanoi (VNA) – Genuone Sciences,the Republic of Korea’s leading pharmaceutical company, announced on February 26 that it signed abusiness agreement with Vietnam’s Imexpharm Joint Stock Company (IMP) on thetransfer of technology for seven products, including medications for the treatment of cardiovascular and diabetes-related diseases.
Genuone Sciences will support the entireprocess from production to supply and distribution of these products.
In addition to the existing method ofdistributing domestically produced products to Vietnam, the Korean company cannow produce and supply products directly in the Southeast Asian country.
Samsoo Lee, CEO of Genuone Sciences Inc,described the strategic cooperation with Imexpharm as an important one thathelps Genuone gradually access the Vietnamese pharmaceutical market, apotential and dynamic market in the Southeast Asia region.
To date, Imexpharm owns four manufacturingclusters, including three EU-GMP manufacturing clusters with eleven productionlines that meet EU-GMP standards. This has made Imexpharm the largestpharmaceutical manufacturing company with EU-GMP manufacturing clusters and thehighest number of EU-GMP production lines. /.
Medicine prices in Vietnam are in the lower range compared to those in other countries in the region, heard the Asian Federation for Pharmaceutical Sciences (AFPS) Conference 2023 that is taking place in Hanoi from November 8-10.
Vietnam is striving to develop the pharmaceutical industry to level 4, the highest as classified by the World Health Organisation, according to the National Strategy for Pharmaceutical Industry Development by 2023, with a vision toward 2045.
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Despite the ongoing global circulation and unpredictable developments of SARS-CoV-2, the World Health Organisation (WHO) hasn’t issued new warnings about COVID-19, said the Ministry of Health.
At the signing ceremony (Photo: VNA) 
