DMC

Vietnam's top three pharma companies by market cap—DHG, IMP, and DHT—are now under foreign control or significant influence, with Taisho, Livzon, and ASKA as key shareholders. The sector is projected to double from $8-9 billion to $16 billion by 2032, driving M&A interest.

VNDirect (VND) posted Q1 2026 pre-tax profit of VND 681 billion, a 43% year-on-year increase, as part of a broader earnings release wave. TP Securities (ORS) led with a 1,961% surge to VND 42 billion, while ACBS grew 67% to VND 303 billion, highlighting divergent performance in Vietnam's securities sector amid mixed market conditions.

IMP is now majority-owned by China's Livzon after a VND 6,000B deal for 67.87% of shares. The acquisition gives Livzon control of IMP's 12 EU-GMP production lines, a rare asset in Vietnam. The deal underscores a broader trend of foreign domination among top Vietnamese pharma firms, including DHG (Taisho), DMC (Abbott), and DHT (ASKA).