The Da Nang Pharmaceutical Joint Stock Company (Danapha) has invested 80 billion VND (nearly 3.5 million USD) to build a new production line for the Golden Star Balm, a product that it will export to the Russia and East European markets.

A new production line of the Golden Star Balm product has been built in Da Nang (Photo courtesy Danapha)

The company told Viet Nam News that exports of the balm to Russia, East Europe and Southeast Asia accounted for 70% of the company’s annual revenue, with the domestic market accounting for just 5% of total sales.

The Da Nang-based company said 20 million units of various balm products including inhalers, balm and medicated oil are exported to Russia and East European countries annually.

Last year, the city granted an investment licence to Danapha’s first nano-technology and biotech project with total investment of 1.5 trillion VND (67 million USD) at the city’s Hi-Tech Park.

The company plans to produce a billion tablets and 100 million units of injectable drugs per year from 2017-2018, and it is testing nanotechnology-based cancer injections to make treatment of the disease cheaper.

Danapha opened its first plant meeting GMP-WHO (good manufacturing practices criteria set by the World Health Organisation) standards in 2009.

(Source: VNS)