Abbott’s 2016 earnings in VN touch $434 million

Việt Nam is among top 10 profitable markets of Abbott. — Photo Courtesy of VFA

HÀ NỘI — Global healthcare company Abbott recorded net sales of US$434 million in the Vietnamese market last year, the company’s 2016 annual report revealed. Việt Nam is among top 10 profitable markets of Abbott.

The company’s revenue in 2014 and 2015 were $357 million and $331 million, respectively.

Abbott set up an office in HCM City in 1995, and now has around 100 employees in Việt Nam. Its main products in the Vietnamese market are milk powders such as Ensure, Pediasure, Similac and Grow.

In 2016, Abbott acquired leading Vietnamese drug manufacturer Glomed Pharmaceutical Company Inc (Glomed) and two drug factories in the southern province of Bình Dương.

Abbott also has 52 per cent indirect ownership in Domesco Medical Import Export Joint Stock Corporation through its subsidiary CFR International SPA. — VNS

Abbott’s annual report 2016 recorded net sales of US$434 million in the Vietnamese market last year. — Photo Abbott

Tags milk revenue Abbott

Vietnam Airlines to open direct flights to Manila, Philippines

bizhub

Long Sơn petrochemical complex to begin commercial operation in Q3

bizhub

Sacombank rejects rumour chairman banned from leaving the country

bizhub

Vingroup announces additional capital injection into GSM

bizhub

Locally made equipment exported to US market

bizhub

Salon Deluxe Vietnam 2024 exhibition opens in HCM City

More on this story

bizhub

Treasury mobilises more capital from Government bonds

Government bonds worth over VNĐ5.86 trillion (US$262.77 million), issued by the State Treasury, were sold at an auction at the Hà Nội Stock Exchange (HNX) on May 24.

bizhub

Siemens, FPT cooperate in training digital human resources

Vietnamese FPT and German Siemens are expected to sign a strategic cooperation agreement on digital human resources training in July.

bizhub

MoIT counters false info on Vietnamese tra fish

Deputy Minister of Industry and Trade Cao Quốc Hưng on Wednesday held a press conference at the Vietnamese Embassy in Spain, sharing information on breeding and export of tra fish.

bizhub

Emirates SkyCargo boosts exports from VN to UAE

Emirates SkyCargo, the freight division of Emirates, has played a key role in strengthening trade links in perishables between Viet Nam and the UAE.

bizhub

ADB links up with VN banks

The Asian Development Bank (ADB)’s Trade Finance Programme (TFP) and two Vietnamese banks -- An Bình Joint-Stock Bank (ABBANK) and Tiên Phong Commercial Joint-Stock Bank (TPBank) -- on Wednesday signed agreements.

bizhub

LG Display Việt Nam proposes to increase investment

LG Display Việt Nam Hải Phòng Co has proposed to raise its investment capital from the current US$1.5 billion to $1.59 billion, baodautu.vn reported.

bizhub

Korean firm plans to acquire Gemadept

Korea’s Taekwang Industrial Co., Ltd has submitted a letter with intention to acquire Gemadept Corporation, Việt Nam’s largest logistics firm, as part efforts to establish a logistics network in Southeast Asia.