Cuu Long Pharmaceutical Joint Stock Company (Cuu Long Pharmaceutical, ticker symbol DCL) of F.I.T Group has just published its consolidated financial statements for Quarter IV/2022. Accordingly, not only record-setting revenue exceeded VND 1,000 billion after 46 years of operation, but other business indicators had strong growth to mark a flourishing journey for Cuu Long Pharmaceutical.
Cuu Long Pharmaceutical Factory at present
The Quarter IV/2022 financial report just published by Cuu Long Pharmaceutical clearly reflects the strong growth of Cuu Long Pharmaceutical. Specifically, in 2022, Cuu Long Pharmaceutical achieved net revenue of VND 1,016 billion, exceeding 20% of the set plan, up 44% compared to 2021. Total before-tax profit reached VND 141.5 billion, up 28% compared to 2021.
The chart shows that the business situation in 2022 of Cuu Long Pharmaceutical had a remarkable growth
To achieve the above results, Cuu Long Pharmaceutical has made continuous efforts to expand production and business with many important marks established in 2022.
In manufacturing and supplying capsules: Cuu Long Pharmaceutical continues to maintain the No.1 position in terms of market share in Vietnam. The Company’s factories are equipped with advanced technology imported from Canada and are in a state of full capacity to meet domestic and foreign orders in the context of increasing demand for capsules for the pharmaceutical and functional food industry. The company is currently investing in expanding Phase 5 with an investment capital of VND 232.5 billion, a capacity of 2.8 billion capsules/year to meet the needs of customers. The project is expected to come into operation by the end of Quarter II/2023.
Cuu Long Pharmaceutical is currently the only enterprise in Vietnam to produce capsules of all kinds.
Regarding manufacturing medical devices: In addition to the existing factory, the Company has been investing in an additional medical equipment and supplies factory with an area of 10,846.6 m2 and investment capital of approximately 15 million USD. The projecct is divided into 2 phases, with a capacity of 35 million products/month for Phase 1 and 20 million products/month for Phase 2, in Vinh Long. This factory is planned to be completed and put into operation in Quarter III/2023.
For pharmaceuticals: On November 22nd, 2022, Cuu Long Pharmaceutical was awarded the Decision and Investment Registration Certificate for the Pharmaceutical Factory Project unded EU-GMP standards. This is one of 12 typical projects of Long An province with a scale of 50,000 m2 and total investment capital of VND 1,035 billion. The factory’s production capacity of drugs and pharmaceuticals is expected to reach 1.6 billion products/year and 360 million product units/year for medical supplies such as syringes, infusion lines, blood sample tubes, venous needles …. Products manufactured at factories meeting EU-GMP standards will be considered for the highest quality drugs in public hospital bidding and prioritized for export. After the EU-GMP pharmaceutical factory project comes into operation, it will create a great step forward for Cuu Long Pharmaceutical in affirming its competitive advantage in quality and products.
Thanks to its prestige and contributions, in 2022 Cuu Long Pharmaceutical was also honored to receive the award “Vietnam Leading Brands 2022.” This is a proud achievement and a motivation for Cuu Long Pharmaceutical to build a stronger business to fulfill its mission of becoming a leading pharmaceutical enterprise for the health of Vietnamese people.
Combined with the prospects of the market, along with developing projects, Cuu Long Pharmaceutical is building a solid launch pad to create a breakthrough at the scale of operations adn a premise for strong revenue growth from the end of 2023 onwards to gradually mark itself on the domestic and international pharmaceutical market.
