Bidiphar plans to reach VND 3,000 billion in revenue by 2026

DNHN - Bidiphar's ability to implement the plan is supported by the company's outstanding competitive advantage in the industry and the restructuring's positive impact on the business's foundation.

The leadership of Binh Dinh Pharmaceutical - Medical Equipment Joint Stock Company (Bidiphar - stock code DBD) stated that the company's growth engine in the coming years will continue to be the group of pharmaceuticals manufactured in-house.

Bidiphar is upgrading its production line from the GMP-WHO standard to the GMP-EU standard by 2025, specifically for the group of cancer drugs administered via injection. The completion of GMP certification -EU will enable Bidiphar to participate in a market much larger than the current cancer drug market.

Bidiphar also plans to invest in a GMP - EU standard OSD Non-beta-lactam drug factory, a GMP - EU standard aseptic drug factory, and a factory, in addition to the GMP - EU standard cancer drug factory. GMP is the WHO standard for the production of medicines. From retained earnings and other loans (banks or stock issuance), the total expected investment is 1.5 trillion dongs.

According to the strategy, Bidiphar will generate over VND 1 trillion in OTC channel revenue in 2026 through the development of additional CHC products and the acquisition of over 25,000 new customers.

According to statistics, Bidiphar's total production output will reach nearly 746 million units in 2022, a 24% increase over the same period in 2021; total revenue will reach 1,617 billion dongs, profit before tax will reach 291 billion dongs, and the State budget will receive over 100 billion VND.

Regarding the direction and objectives for 2023, Bidiphar Company is determined: Strive for a total revenue of VND 1,800 billion; in which, sales of pharmaceutical products produced by the company reach VND 1,700 billion; increase the number of customers by 25%; achieve a pre-tax profit of VND 260 billion.

To achieve the aforementioned objectives, the Company's Board of Directors has proposed several solutions, including Will begin the construction of 02 new pharmaceutical processing factories following GMP - EU standards; completing the cancer pill manufacturing plant; continuing to cooperate in investment and technology transfer to produce several special treatment product lines with advanced technologies and dosage forms...

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