Stepping Stone to SEA
Dong Wha Pharm announced on Aug. 3 that it has signed a contract to acquire a 51% stake in “TRUNG SON Pharma,” a company that operates a pharmacy chain in Vietnam.
TRUNG SON Pharma operates over 140 pharmacy chains in the southern region of Vietnam. The company recorded sales revenue of approximately 74 billion won in 2022, selling not only prescription and over-the-counter drugs but also health functional foods, cosmetics, and medical devices.
The acquisition cost amounted to 391.1 billion won for 51% of TRUNG SON Pharma’s stake, equivalent to 121,541,420 shares.
With this acquisition, Dong Wha Pharm plans to enter the Vietnamese market with its flagship over-the-counter drugs such as “Whal Myung Su,” “EACH,” and “Pancol.” The company also plans to initiate the sale of health functional foods and cosmetics products.