Pharmacity Pharmacy Joint Stock Company (Vietnam)

Pharmacity is one of the pioneering modern pharmaceutical retail chain management and operation enterprises in Vietnam. According to media information, Pharmacity is funded by major investment funds including Mekong Capital (through Mekong Enterprise Fund III), TR Capital (a private equity investment company based in Hong Kong) and SK Group (a large investment group from South Korea). As of December 31, 2022, Pharmacity owned 1,017 stores nationwide with 100% of pharmacies meeting GPP standards (Standards of Good Practice for Pharmacy Management of the Ministry of Health). However, by the end of March 2023, the number of stores decreased to 936 pharmacies. In addition to providing sufficient hospital prescription drugs, Pharmacity also cooperates with leading domestic and international reputable pharmaceutical companies and suppliers such as United Pharma; Merck; Bayer; Mega We Care; Novartis; DHG Pharma; Boehringer Ingelheim…to provide a variety of vitamins and functional foods that contribute to strengthening resistance, preventing diseases...Its product is not only distributed through the physical Pharmacity stores chain but also sold through www.pharmacity.vn website and Pharmacity app. In 2022, Pharmacity's drug sales increased highly compared to 2021, most of the growth rate came from the last months of the year when Pharmacity focused on implementing the "Medicine First" project aimed at serving the maximum drug needs of customers. In 2023, the company continues to rebalance the premises to ensure that pharmacies are present in really strategic locations. At the same time, it also focuses on improving gross profit margin and optimizing operating expenses.Having strong financial supporting, by the end of 2025, Pharmacity aims to open 5,000 pharmacies nationwide, enabling 50% of the population to access Pharmacity's pharmacies within 10 minutes by motobikes. At the same time, it will develop a comprehensive healthcare ecosystem that combines traditional retail with basic medical services.  In Vietnam, the pharmaceutical retail market is highly fragmented, most of which are small businesses selling products of different quality and prices. Therefore, in this growth "race", chains have many opportunities to grow as they are ready to serve customers wherever and whenever they need with genuine products and professional and dedicated advice of a team of pharmacists. Currently on the market, there are three major drugstore chains including Pharmacity, Long Chau of FPT Retail, An Khang of MWG (Mobile World Investment Corporation). It is expected that drugstore chains can account for 16% of the drug retail market share in Vietnam by 2025.