Livzon Group Acquires 67.87% of Imexpharm (IMP) from SK for VND 6,000B
This Aveluro analysis covers IMP (Dược phẩm Imexpharm) in the Dược phẩm sector. The classified event type is m a announcement, with neutral sentiment and a deterministic market-impact score of 8.4/10. Source coverage came from CafeF - Doanh nghiệp, classified as a primary/top-tier source.
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Overview
Livzon Pharmaceutical Group (China) has completed the acquisition of a 67.87% stake in Imexpharm (IMP), Vietnam’s second-largest listed pharmaceutical company by market capitalization, for approximately VND 6,000 billion (USD 240 million). The stake was purchased primarily from SK Group (South Korea), which had held a controlling interest. Imexpharm reported 2025 gross revenue of VND 2,914 billion (+16%) and pre-tax profit of VND 446 billion (+10.4%).
Key Facts
- Livzon Pharmaceutical Group (China) acquired 67.87% of Imexpharm (IMP) through its entity Lian SGP.
- The transaction value is approximately VND 6,000 billion (USD 240 million).
- The stake was bought mainly from SK Group (South Korea), which had held a controlling position.
- Imexpharm’s market capitalization is nearly VND 7,300 billion (USD 292 million).
- 2025 gross revenue: VND 2,914 billion (+16% year-on-year).
- 2025 pre-tax profit: VND 446 billion (+10.4% year-on-year).
- Imexpharm operates 12 EU-GMP production lines across three factory clusters.
What Happened
In early May 2026, Livzon Pharmaceutical Group, through its subsidiary Lian SGP, completed the purchase of a 67.87% stake in Imexpharm (IMP) for about VND 6,000 billion. The shares were acquired primarily from SK Group (South Korea), which had held a controlling interest and appointed the Chairman of Imexpharm’s Board of Directors. This marks the second change in foreign ownership for the company, which was founded in 1977 as a state-owned drug distributor.
The transaction was disclosed via regulatory filings. Imexpharm’s General Director, Ms. Tran Thi Dao, who has led the company for decades, remains in her position. The company has transformed from a distributor to a manufacturer with 12 EU-GMP-certified production lines and 28 drug marketing authorizations in Europe.
Market Context
Imexpharm (IMP) trades on HOSE. As of May 14, 2026, the stock closed at VND 47,750, up 0.10% with low volume of 27,100 shares. The company is the second-largest listed pharmaceutical firm in Vietnam by market capitalization, at nearly VND 7,300 billion. The sector has seen increased foreign interest due to Vietnam’s growing healthcare demand and regulatory improvements. The deal values IMP at roughly VND 8,800 billion, a premium to its market cap.
Strategic Significance
The acquisition by Livzon, a major Chinese pharmaceutical group, provides Imexpharm with access to a larger product pipeline and potential distribution channels in China. For Livzon, the deal offers a foothold in Vietnam’s pharmaceutical market, which is expanding due to an aging population and rising healthcare spending. The exit of SK Group suggests a shift in foreign investor strategy, possibly due to differing long-term objectives. Imexpharm’s strong manufacturing base (12 EU-GMP lines) and R&D spending (5% of revenue) make it an attractive platform for regional expansion.
What to Watch
- Integration progress: How Livzon integrates Imexpharm’s operations and whether it transfers technology or products.
- Management continuity: Any changes to the board or senior management, particularly the role of Ms. Tran Thi Dao.
- Financial performance: Q1 2026 earnings to gauge momentum post-acquisition.
- Regulatory approvals: Any conditions imposed by Vietnamese authorities on foreign ownership or competition.
- Competitive response: Moves by other Vietnamese pharma firms such as DHG, DCL, or foreign entrants.