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Abbott completes acquisition of Glomed in Vietnam

Abbott completes acquisition of Glomed in Vietnam

Thursday, September 01, 2016, 08:00 GMT+7

HO CHI MINH CITY, Vietnam, August 30, 2016 — Abbott, the global healthcare company, announced today that it has acquired Glomed Pharmaceutical Co., Inc (Glomed), a leading Vietnamese pharmaceutical manufacturer.

“This acquisition will further strengthen Abbott’s ability to serve patients in Vietnam with innovative, high-quality healthcare solutions that allow them to live a healthier life and reach their full potential,” said Ngo Van Huy, general manager of Abbott’s established pharmaceuticals business. “Abbott intends to build on Glomed’s success to date to ensure long-term growth in Vietnam.”

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The Glomed plant in Vietnam

Abbott has had a presence in Vietnam for more than 20 years, and in line with its long-term commitment to growing global healthcare markets and capabilities, has developed a strong business that helps people in Vietnam live healthier lives through a full range of science-based healthcare products and services. This expansion of Abbott’s pharmaceuticals business in Vietnam builds on the company’s existing nutrition leadership in the country and a strong portfolio in medical devices and diagnostics.

Through this acquisition, Abbott becomes one of the top 10 pharmaceutical companies (according to IMS data report Q2 2016) in Vietnam, further reinforcing its position and commitment to the market and its people. In addition to obtaining two manufacturing facilities located in Binh Duong Province, Abbott also gains a portfolio of medicines that is well aligned with its current pharmaceutical therapeutic areas of focus in anti-infective medicines, gastroenterology, cardiovascular, pain management, respiratory and women’s health, as well as over-the-counter products (OTC).

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The Glomed plant in Vietnam

In Vietnam, Abbott and its foundation the Abbott Fund have also provided almost VND230 billion, or US$10.2 million, in grants and product donations to address critical health issues through partnerships focused on improving nutrition, training health care staff, strengthening health systems and expanding community education.

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