The Vietnamese pharmaceutical sector has recently witnessed one of its largest mergers and acquisitions (M&A) to date, with Livzon Pharmaceutical Group Inc. of China acquiring approximately 64.81% of Imexpharm Pharmaceutical Joint Stock Company (IMP).

Vietnam's pharmaceutical imports reached nearly US$3.15 billion million in the past nine months of this year, marking an increase of 24.2% compared to the same period in 2023, according to statistics from the General Department of Customs.

As many as 350 domestic and foreign enterprises will join the 30th Vietnam International Medical and Pharmaceutical Exhibition (Medi-pharm Expo 2023), slated to be held in Hanoi from May 10-13.

Retail giants have begun to ramp up investments in the pharmaceutical market, fueling the race for market dominance.

Vietnam ranks 17th among 'pharmerging' markets, or markets expected to become a ‘pillar’ for the world’s pharmaceutical industry, according to IMS Health.