Vietnamese firms urged to deeply explore Cuban market Vietnamese, French firms urged to foster partnerships Domestic pharmaceuticals stocks send good vibes to Abbott and Taisho Since the beginning of the fourth quarter of 2018, pharmaceutical stocks have been forecast to thrive as bustling activities such as state divestitures, mergers and acquisitions (M&A), and notable investments from foreign healthcare firms are being announced left and right. Speaking about the investment and divestment activities between Vietnam-based pharmaceuticals and foreign investors, a representative of State Capital Investment Corporation (SCIC) disclosed that 34.71 per cent capital at Domesco Medical Import Export Joint Stock Corporation (HSX: DMC) is on its divestment agenda in April. US-based multinational healthcare firm Abbott has already expressed a wish to participate in the divestment. In late 2017, Latin American CFR International SpA, DMC’s former largest shareholder, transferred its entire ownership of 51.69 per cent to its parent company, Chile-based Abbott Laboratories Holdco SpA shortly before the firm’s extraordinary general shareholders’ meeting. In 2018 the Vietnam-based firm plans to acquire VND1.468 trillion ($64.44 million) in sales revenues and VND225 billion ($9.87 million) in pre-tax profit which would be 9.6 and 8 per cent higher than in 2017. The ratio of EV/EBITDA… Read full this story
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