On September 9th, Cuu Long Pharmaceutical Joint Stock Company held an extraordinary shareholder meeting at its parent company, FIT Group – Times Tower – 35 Le Van Luong, Thanh Xuan, Hanoi.

At the meeting, the Board of Directors and shareholders attending the meeting agreed to adopt the Statement of business line adjustment, charter amendment; Statement of removal and additional election of members of the Board of Directors; Statement of removal and additional election of members of the Board of Supervisors and other issues under the jurisdiction of the General Meeting of Shareholders.

In particular, the meeting agreed to issue individual convertible bonds to foreign investors with a total offering value of 30,000,000 USD.

Currently, Cuu Long Pharmaceutical Joint Stock Company is in the process of expanding its investment, so the demand for capital is high, while revenues will come slower. The choice to issue convertible bonds instead of stocks will allow CLP not to be diluted in stock in the short term. This is a profitable alternative for existing shareholders.

In addition, information on current stock market of Vietnam in general and of FIT Group and its member companies in particular including CLP, is transparent, clear and easy to understand, which has created a great confidence of foreign investors when deciding to invest in Vietnam market.

In particular, according to experts in the stock market, the stock code of FIT and CLP are in the top in terms of profitability, growth and capital. And this is what makes the business attractive to foreign investors at present.

2017 marked the strong change of Cuu Long Pharmaceuticals when the company acquired Euvipharm – a member company of Canadian pharmacy Valeant and is one of the most modern pharmaceutical factories in Vietnam. In addition, CLP has a joint venture with SCIC and some investors to invest in a cancer drug factory, becoming the first cancer drug factory in Vietnam.

CLP is also implementing projects to invest in more modern machines and lines to improve the quality of products with the effort of building, strengthening and positioning the brand in the pharmaceutical market in Vietnam such as: investing in the construction of capsule 3 plant to raise the productivity of hollow capsule which is a scarce supply source in Vietnam; transforming the brand towards consumer friendliness along with improving the quality of Panalgan products (fever, flu, pain relief); etc.

With strong investment, CLP has been on the way to display the leading pharmaceutical brand in Vietnam. This is clearly reflected in CLP’s first six months of financial statement, The company’s profit after tax was 51.12 billion VND, up 23.6% over the same period last year (equivalent to 41.36 billion VND).

Since becoming a member of FIT Group, CLP has been invested and strategically positioned by the parent company as one of the top five pharmaceutical companies in Vietnam. And following the direction, CLP is now stepping up to solid development, which represents the potential and brings value to shareholders and investors of the company, becoming a prestigious pharmaceutical company in Vietnam.