Pharmaceutical enterprises have reported strong business results in the third quarter of 2022, with some even achieving record-high profits.

Analysts believe that the pharmaceutical industry in the fourth quarter still has many growth drivers.

Soaring profits

According to estimates of KIS Vietnam Securities Joint Stock Company, the pharmaceutical industry announced revenue of VND10.9 trillion in Q3, up 12.7 per cent over the same period last year and up 2.3 per cent compared to the previous quarter.

Profit after tax reached VND827 billion, up 29.8 per cent over the same period last year and up 13.1 per cent from the previous quarter. The current top five companies in the industry are Vimedimex Medicine and Pharmaceutical Joint Stock Company (VMD), Vietnam Pharmaceutical Corporation - Joint Stock Company (DVN), Hau Giang Pharmaceutical Joint Stock Company (DHG), Codupha Central Pharmaceutical Joint Stock Company (CDP) and TRAPHACO Joint Stock Company (TRA), accounting for more than 52 per cent of total industry revenue.

In the third quarter, DHG recorded a net revenue of VND1.16 trillion, up 23 per cent over the same period last year; gross profit reached VND578 billion, up 26 per cent.

The enterprise recorded a profit after tax of VND262 billion, up 30 per cent compared to the third quarter of 2021, this is also the highest quarterly profit ever recorded by the company.

In the first nine months of 2022, DHG Pharma recorded net revenue of VND3.35 trillion and profit after tax of VND752 billion, up 15 per cent and 24 per cent respectively over the same period in 2021.

In the third quarter of 2022, TRAPHACO’s profit after tax increased by 8.5 per cent over the same period last year, to nearly VND77 billion.

In the first nine months of 2022, TRAPHACO recorded a net revenue of VND1.8 trillion, up 14 per cent over the same period last year.

Profit after tax of the enterprise reached VND251 billion dong, up 28 per cent over the same period last year.

After three quarters, Traphaco has completed 77.5 per cent of the revenue plan and 87.8 per cent of the profit plan.

Ha Tay Pharmaceutical Joint Stock Company (DHT) recorded net revenue of more than VND491.5 billion in the third quarter of 2022, up 51 per cent over the same period in 2021; gross profit was nearly VND51 billion, up 94 per cent over the same period last year. Profit after tax was 2.5 times higher than in the same period last year, reaching more than VND23 billion.

In the nine months of 2022, this pharmaceutical company recorded a net revenue of more than VND1.3 trillion.

Excluding other expenses, profit before and after tax reached more than VND78 billion and nearly VND63 billion respectively, both up 20 per cent over the same period in 2021.

Pharbaco Central Pharmaceutical JSC No 1 (PBC) reported a profit after tax of nearly VND25 billion, 3.5 times higher than the same period in 2021. Accumulated in the first nine months of 2022, net revenue increased 13 per cent total to over VND750 billion and gross profit was over VND155 billion, up 12 per cent.

After deducting expenses, this company reported a profit before and after tax of nearly VND44 billion and VND40 billion, up 9 per cent and 20 per cent respectively over the same period in 2021.

Imexpharm Pharmaceutical Joint Stock Company (IMP) reported Q3 revenue up by 63 per cent over the same period last year, reaching nearly VND418 billion and gross profit increased by 93 per cent to more than VND172 billion. Profit before tax was more than VND72 billion, up to 89 per cent and profit after tax also increased by 78 per cent, reaching nearly VND55.8 billion.

In the first three quarters of this year, the enterprise's net revenue increased by 25 per cent, reaching more than VND1.09 trillion, and profit before and after tax reached more than VND197 billion and VND155 billion, both increased by 27 per cent over the same period in 2021.

Pharmedic Pharmaceutical Pharmaceutical Joint Stock Company (PMC) announced extraordinary results. The company's third-quarter revenue reached VND121.6 billion, up 2.6 times over the same period in 2021.

Deducting taxes and fees, Pharmedic reported a profit after tax of nearly VND20.4 billion, 6.8 times higher than VND3 billion in the third quarter of last year.

In the first nine months of 2022, this pharmaceutical company achieved revenue of nearly VND346 billion, up nearly 26 per cent compared to 2021; profit after tax reached VND60.4 billion, equivalent to an increase of nearly 50 per cent.

After three quarters, Pharmedic has achieved nearly 73 per cent of the revenue target and 83 per cent of the profit target, respectively. — VNS