FIT acquiring 2 million shares of Cuu Long Pharmaceutical

FIT Cosmetics: OCLEEN Liquid drain cleaner- Remarkable cleaning power thanks to Super Clean technology.
11 June, 2018
Cuu Long Pharmaceutical launches “2018 Panalgan Display”
14 June, 2018

According to the announcement of the F.I.T Group (FIT), the company has completed acquiring of 2 additional million shares of Cuu Long Pharmaceutical JSC.

With 2 million additional shares, F.I.T currently holds 74.61% of DCL’s shares, equivalent to 42,402,616 stakes. Transaction time were from 01/06/2013 to 08/06/2018.

In recent years, DCL’s business results have been much positive, with continuously strong growth in profitability over the years. In 2018, the business plan of Cuu Long Pharmaceutical was set up with net sales of VND 963 billion, equivalent to an increase of 26%; profit after tax is VND 86 billion, equivalent to an increase of 15% compared to 2017. With specific plans and targets, in 2018, DCL will invest more strongly in production and business activities based on the foundation of optimizing the production capacity, multiplying the bio-equivalence test, studying new products to in line with the market trend, perfecting the sale system, standardizing the human resource capacity, professionally managing the Governance and ensuring a strong financial situation. The company will continue to examine the feasibility of constructing a cancer drug factory scheduled to start in early 2019.

Currently, DCL also owns the largest plant to manufacture empty in the country, occupying 40% market share. DCL Capsule III factory has also just completed construction. DCL will continue to invest in the Capsule 4 factory based on market demand.

Since the strong investment of parent company FIT with the deeply strategic orientation, Cuu Long Pharmaceutical Joint Stock Company has made great progress to become one of the top prestigious pharmaceutical companies in Vietnam. With this decision, shareholders of the parent company (F.I.T) will be the beneficiaries from the growth of DCL.