Chinese executive appointed chairman of pharmaceutical company in Vietnam

Liu was elected chairman of Imexpharm for the remainder of the 2023-27 term.

The company also appointed Liu Ning, also a Chinese national, as a member of both the nomination and remuneration committee and the audit and risk management committee.

According to Imexpharm, Liu Daping, born in 1987, holds a bachelor's degree in pharmaceutical technology.

Liu Ning, born in 1983, is a qualified lawyer in China and holds the Association of Chartered Certified Accountants (ACCA) professional accounting qualification.

The leadership reshuffle comes after Imexpharm welcomed a new controlling shareholder.

In mid-May, Lian SGP Holding Pte. Ltd., a subsidiary of China's Livzon Pharmaceutical Group, announced that it had become a major shareholder in the Vietnamese drugmaker.

Lian SGP acquired more than 104.54 million shares of Imexpharm, representing a 67.8-percent stake.

The acquisition, valued at approximately VND6 trillion (US$229 million), is regarded as one of the most significant mergers and acquisitions in Vietnam's pharmaceutical industry this year.

Following the deal, Livzon Pharmaceutical Group officially gained the controlling ownership of Imexpharm, which currently has the largest number of EU-GMP-certified pharmaceutical plants among Vietnamese drugmakers.

The company currently has 12 production lines certified under the European Union's Good Manufacturing Practice (EU-GMP) standards, a competitive advantage at a time when most Vietnamese pharmaceutical manufacturers still operate under the World Health Organization's GMP standards.