Pharbaco

What Pharbaco does

Pharbaco (Công ty cổ phần Dược phẩm Trung ương I - Pharbaco) is a Vietnamese pharmaceutical manufacturer headquartered at 160 Tôn Đức Thắng, Hanoi, with manufacturing operations at Thạch Lỗi, Nội Bài (Soc Son district). Founded in 1954 as the Central Manufacturing Institute and reorganized into a joint stock company in 2007, the company has operated for 66 years and is publicly listed on the UPCoM exchange under ticker PBC with 40,000,000 shares registered.

The company's core product portfolio spans injectable penicillin powder (the first GMP-ASEAN certified injectable penicillin facility in Northern Vietnam), Cephalosporin (PFI and OSD), Carbapenem, Non beta-lactam formulations, eye drops, traditional medicine, syrup, topical drugs, and water for injection. Planned Phase 3 lines add cancer drugs and medical supplies. Production occurs across nine legacy EU-GMP lines commissioned 2001-2004, three Phase 1 lines (PFI Cephalosporin, OSD Cephalosporin, OSD Non beta-lactam) initiated in 2017, and three Phase 2 lines (PFI Penicillin, PFI Carbapenem, PFI Non beta-lactam) started in August 2020. Certifications include WHO-GMP, GMP-ASEAN, GLP, and GSP, with technology partnerships in Germany, the UK, and the US supporting over 1,000 billion VND in cumulative production investment.

The business model combines domestic direct sales through a Business Department to hospitals, pharmacies, the Vietnamese military, and national health programs (tuberculosis, malaria, school worm prevention); company-operated retail pharmacy outlets; an Export Department distributing to 20+ countries including Nigeria, Congo, Moldova, Yemen, Mongolia, Cambodia, Myanmar, Papua New Guinea, Croatia, Canada, Chile, and Czech Republic; and contract manufacturing / toll manufacturing partnerships for partners' products on Pharbaco's GMP-certified lines. Distribution is quotation-based and negotiated, with no public price list. The company also holds a minority equity stake in Công ty Cổ phần Dược phẩm Công nghệ cao Việt Mỹ (Viet My High-Tech Pharmaceutical Joint Stock Company).

Name

Pharbaco

Legal name

Công ty cổ phần Dược phẩm Trung ương I - Pharbaco

Website

https://pharbaco.com.vn

Company type

Public

Founded year

1954

Operating status

Operating

Headcount range

11–50 employees

Short description

Pharbaco is a 66-year-old Vietnamese pharmaceutical manufacturer producing GMP-certified antibiotics, injectables, syrups, and traditional medicines for domestic military and national health programs, with exports to 20+ countries.

Ownership category

akta.pro rank

Product category

Pharmaceutical Manufacturing

NAICS

Pharmaceutical Preparation Manufacturing (325412), Pharmaceutical and Medicine Manufacturing (3254), Biological Product (except Diagnostic) Manufacturing (325414)

SIC

Pharmaceutical Preparations (2834), Biological Products, (No Disgnostic Substances) (2836)

akta.pro primary industry

Primary Care & General Medicine Pharmaceuticals (HLAIAAAA)

Keywords

• Pharmaceutical manufacturing
• GMP-certified medicines
• Injectable penicillin production
• Contract manufacturing services
• Pharmaceutical export services

Headquarters

HQ city

Hanoi

HQ country

Vietnam

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Supply Chain, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Pharmaceutical Product Sales (Domestic): Manufacturing and selling specialized medicines to domestic markets, including supplying drugs for national programs (tuberculosis, malaria, school worm prevention), serving the military, and distributing through the company's own pharmacy outlets and business department.
2. Pharmaceutical Export: Exporting pharmaceutical products to over 20 countries across Eastern Europe, Asia, and Africa, with export operations managed through the Export department and requiring drug registration documentation for each destination market.
3. Contract Manufacturing / Toll Manufacturing: Offering contract manufacturing services where partners can outsource entire production lines or individual lines for long-term contracts with annual preferential rates. Pharbaco also accepts processing partners' products on its production lines, including functional foods. Partners can also provide active ingredients and formulations for Pharbaco to obtain marketing authorization and manufacture.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

Pharbaco manufactures and sells a diverse pharmaceutical product portfolio including penicillin injectable powder, other injectable solutions, tablets/capsules (specialized medicines), eye drops, syrups, topical drugs, and traditional Vietnamese medicines, produced on WHO-GMP and EU-GMP certified lines. The company also offers contract/toll manufacturing on its GMP-certified lines for domestic and foreign partners and exports pharmaceutical products to over 20 countries. It supplies medicines for Vietnamese national health programs (tuberculosis, malaria, school worm prevention) and the military.

Product overview

Pharbaco is a pharmaceutical manufacturing company offering a diverse portfolio of pharmaceutical products. The product portfolio includes eye drops, traditional medicines (Đông dược), syrups, topical medicines, and injectable solutions. The company is recognized as the first pharmaceutical manufacturer in Northern Vietnam to produce Penicillin group injectable powder with GMP-ASEAN standards. Pharbaco produces specialized medicines and supplies drugs for national programs including tuberculosis and malaria prevention. The company operates multiple production lines across three phases: Phase 1 includes Cephalosporin PFI and OSD lines plus Non beta-lactam OSD; Phase 2 covers Penicillin, Carbapenem, and Non beta-lactam PFI lines; Phase 3 plans cancer drugs and medical supplies. The company exports to over 20 countries including markets in Eastern Europe, Asia, and Africa.

Differentiator

Problem solved

Functional benefit

Products and services

• Penicillin Injectable Powder (Thuốc tiêm bột Penicillin)
• Injectable Solutions (Thuốc tiêm nước)
• Eye Drops (Thuốc nhỏ mắt)
• Syrup (Dây chuyền Siro)
• Topical Medicine (Thuốc dùng ngoài)
• Traditional Medicine (Thuốc đông dược)
• Specialized Medicine (Thuốc chuyên khoa)
• Contract / Toll Manufacturing Services
• COVID-19 Vaccination Center Services

Quantifiable outcome

• Exports pharmaceutical products to over 20 countries and territories worldwide
• +3 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Three partnerships are on record, tiered minor and core.

• Công ty Cổ phần Dược phẩm Công nghệ cao Việt Mỹ (Viet My High-Tech Pharmaceutical Joint Stock Company)minorStrategic or Co-development Partner · 1 February 2021Pharbaco appointed a representative for its capital contribution stake in Công ty Cổ phần Dược phẩm Công nghệ cao Việt Mỹ. The scope of this partnership involves equity ownership representation, suggesting Pharbaco holds an ownership stake in this Vietnamese high-tech pharmaceutical company.
• Domestic and International Pharmaceutical Contract Manufacturing PartnerscoreStrategic or Co-development PartnerPharbaco actively seeks contract manufacturing partners for its GMP-certified production lines, offering arrangements including full outsourcing of production lines on long-term contracts with annual preferential rates, toll manufacturing of partners' products on Pharbaco's lines, and full production services where Pharbaco obtains marketing authorization using partner-supplied active ingredients and formulations. Production lines available include ophthalmic drops, traditional medicine, syrup, topical drugs, and water for injection.
• Technology Partners (Germany, UK, US)coreTechnology or IntegrationPharbaco has invested over 1,000 billion VND in production cooperation and technology transfer for high quality products from reference countries, cooperating with partners from Germany, UK, and the US for new drug production lines with specific modern machinery and technology.

Scale indicators5 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Imexpharm Pharmaceutical Joint Stock Company: Vietnamese pharmaceutical manufacturer focused on generic finished dosage forms with GMP-certified production. Overlaps with Pharbaco on primary-care and antibiotic categories, serving similar domestic pharmacy and hospital channels.
• DHG Pharmaceutical Joint Stock Company: One of Vietnam's largest domestic pharmaceutical manufacturers with a comparable portfolio of generic drugs, contract manufacturing capabilities, and government program supply relationships. DHG competes directly with Pharbaco in primary-care and consumer health categories across Vietnam.
• Domesco Medical Import Export Joint Stock Company: Vietnamese pharmaceutical manufacturer with GMP-certified production, strong export orientation, and a comparable mix of generic pharmaceuticals for both domestic and international markets.
• Mekophar Chemical Pharmaceutical Joint Stock Company: Vietnamese pharmaceutical company with diversified generic drug manufacturing and exports to regional markets, comparable to Pharbaco's product portfolio and export footprint across Asia and Africa.
• Traphaco Joint Stock Company: Vietnamese pharmaceutical manufacturer combining traditional medicine (Eastern pharmaceuticals) with modern drugs, mirroring Pharbaco's Đông dược plus modern medicine product mix. Both serve domestic pharmacies and government health programs at scale.
• Hau Giang Pharmaceutical Joint Stock Company (Hau Giang Pharma): Established Vietnamese generic pharmaceutical manufacturer with GMP-certified facilities, domestic distribution, and export operations. Comparable in product breadth, regulatory posture, and Vietnam-headquartered positioning to Pharbaco.

Emerging players

• Mega Lifesciences: Thai-headquartered pharmaceutical and nutraceutical manufacturer with strong Southeast Asian distribution and contract manufacturing operations. Comparable to Pharbaco on the CMO side and in regional generic pharmaceutical exports.

Broad incumbents

• Cipla Limited: Indian-headquartered global generic pharmaceutical manufacturer with extensive expertise in antibiotics, anti-TB, and anti-malarial products — categories that overlap materially with Pharbaco's government program drug portfolio and represent the primary competitive pressure on Pharbaco's export business.
• Vinapharm Group: State-affiliated Vietnamese pharmaceutical holding with a broad portfolio of manufacturing, distribution, and trading operations. Comparable to Pharbaco as a domestic pharmaceutical incumbent but operates at greater scale across the value chain.

Regional players

• Bidiphar Joint Stock Company: Vietnam-based pharmaceutical manufacturer with regional Southeast Asian reach, comparable GMP-certified manufacturing footprint and government/military supply relationships in primary-care and specialty generics.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/pharbaco

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Pharbaco