Boston Pharma – Symbol of strong development

The relentless 16-year journey of Boston Vietnam, guided by the vision of “Research and improvement of drug quality for community health,” has been dedicated to the singular goal of becoming a leading symbol of pharmaceutical quality in Vietnam.

1. Overview

The 16-year trajectory commenced with BOSTON PHARMA, initially named VITAR Pharmaceutical Joint Stock Company, established in its early days by the Vietnam Pharmaceutical Corporation, represented by Central Pharmaceutical Company I, and individual shareholders with extensive managerial experience in the pharmaceutical industry.

Boston officially entered into a partnership with Boston Pharmaceutical Inc USA, sharing the overarching goal of “Healthcare for the community.” By 2008, through joint ventures and licensing from Boston USA, the company officially changed its name to Boston Pharma Joint Stock Company Vietnam – BOSTON PHARMA.

BOSTON PHARMA has consistently achieved numerous successes in its continuous development, notably experiencing a revenue surge in 2022. In 2023, Boston was officially awarded the EU-GMP certification by the Portuguese pharmaceutical regulatory authority.

Currently, BOSTON PHARMA applies advanced technologies in pharmaceutical production, including specialized ERP for production management and Base for internal operational management.

2. R&D and Production Activities

Boston currently owns a WHO-GMP and an EU-GMP factory in the Vietnam-Singapore Industrial Park, Binh Duong Province, with over 286 modern machinery and equipment, including:

• The WHO-GMP factory capable of producing a variety of drugs: tablets, capsules, soft capsules, liquid medicines, creams, gels, suspensions, and effervescent tablets.
• The EU-GMP factory focuses on producing various forms of tablet and capsule medications.

Boston now employs over 960 highly skilled personnel and holds over 200 registrations for pharmaceutical and health food products in various formulations.

3. Notable Business Activities

In 2022, marked as a breakthrough year for Boston Vietnam, the company’s net revenue soared from 633.7 billion VND in 2021 to 1,018.5 billion VND, an almost 61% increase.

With sales costs at 592 billion VND and a gross profit for the entire year reaching 425.5 billion VND, a 31% increase, Boston‘s after-tax profit exceeded 80 billion VND, a 15.7% rise from the previous year.

As of December 31, 2022, Boston‘s total assets reached 998.3 billion VND, a nearly 51% increase compared to the previous year.

Additionally, Boston actively participates in community-oriented activities:

• Supporting volunteer summer campaigns for students.
• Organizing charitable medical examination and treatment activities in Dong Nai.
• Sponsoring scholarships for students in the Faculty of Medicine at the National University.

REFERENCES:

1. CÔNG TY CỔ PHẦN DƯỢC PHẨM BOSTON VIỆT NAM
2. Hé lộ bức tranh tài chính Boston Việt Nam, doanh nghiệp sẽ bị kiểm tra thuế trong năm 2023