ADB supports production of generic medicines in VN amidst COVID-19 outbreaks
VGP - The Asian Development Bank (ADB) signed an US$8 million loan with Imexpharm Corporation to help the company sustain its production of generic medicines despite global supply disruptions caused by the COVID-19 pandemic.
The financing will support the company’s working capital needs to ensure ample supply of active pharmaceutical ingredients for essential generic medicine production.
Imexpharm’s operations and continued production of generic pharmaceuticals and their ensured availability in the market is integral in safeguarding the country’s health care during the pandemic.
This project demonstrates ADB’s continued efforts to enhance health outcomes in Viet Nam by encouraging the development and use of local generic medicines, said Head of Health and Education Investments at ADB's Private Sector Operations Department Aniruddha Patil.
This debt financing is part of ADB’s US$20 billion assistance announced on April 13 to help its developing members manage the pandemic.
Imexpharm was established in 1977. As of 30 September 2020, Imexpharm had 1,252 employees, total assets of VND2.072 billion and 6 pharmaceutical manufacturing facilities.
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members-49 from the region.
By Thuy Dung
