Japanese drug maker ASKA to buy 24.9% share in Vietnam’s Hataphar
HANOI, NNA - Japan’s ASKA Pharmaceutical Co. will acquire 24.9 percent of the shares of major Vietnamese pharmaceutical firm Ha Tay Pharmaceutical Joint Stock Co. (Hataphar) for an undisclosed amount, establishing its first overseas sales network.
ASKA plans to buy 6,575,421 shares in Hataphar and the acquisition is expected to be completed in the next two to three months, a spokesman for ASKA told NNA on Tuesday.
ASKA also plans to send a couple of directors to Hataphar, he added.
Established in 1965, Hanoi-based Hataphar manufactures, markets and imports pharmaceuticals, nonprescription and nutraceutical products, ASKA said in a statement.
In the 2019 fiscal year, Hataphar posted 2.043 trillion Vietnamese dong ($87.7 million) in sales and 90 billion Vietnamese dong ($3.86 million) in net profit, ranking as the second-biggest pharmaceutical firm in terms of sales in Vietnam.
“The collaboration through this transaction will create synergies between Hataphar's commercial structure and our own pharmaceutical development and manufacturing technology capabilities,” ASKA said in the statement.
ASKA, which specializes in internal medicine, obstetrics and gynecology, and urology, set up an international business division in April this year to expand overseas business and seek growth.
In 2018, ASKA set up a joint venture in India with Omnicare Drugs India Pvt. Ltd. to manufacture drugs, with ASKA holding a 30 percent stake in it and Omnicare owning the remaining 70 percent.
The factory was scheduled to start operating in April this year, but that has been delayed due to the COVID-19 pandemic, according to the ASKA spokesman.