Bio-Pharmachemie Joint Venture Company (Vietnam)

The subject has existed in the veterinary medicine market for 29 years. Its vision is to maintain a top position as leading manufacturer in Vietnam veterinary and aquaculture medicines markets. It is a joint venture between three shareholders which have more than 27 years of experience. Therefore, it exports its products to 24 countries in Asia Pacific, Middle East and Africa.For investor, Nova Consumer was holding the No 1 position in the veterinary and aquatic medicine market with a market share of 30%. It has been invested in modern equipment, automatic production lines and thus, met WHO-GMP standards. However, Phil Viet Axis Agriculture and Development Corp has higher vote right (39.995%) for its key policies. On the media search, we cannot collect information about this equity holder to assess Phil Viet's risk attitude. Nonetheless, it will avoid difficulty in decision making when all shareholders do not have the same vote right in these policies.According to Nova Consumer's report 2022-2023, in 2023, Nova Consumer will continue to maintain its current market share in the veterinary medicine segment. Although the animal feed segment is Nova Consumer's main segment, the veterinary medicine segment is part of Nova Consumer's 3F model (Feed – Farrm – Food). For example, with a closed system of animal health care and effective nutrition in livestock farm, the farm's cows enjoy the best nutrition from quality auxiliary products from Nova Consumer member companies such veterinary medicine products to protect health and disease safety for cows from the company, etc.Based on the website of Saigon Agriculture Incorporation (Sagri), Veterinary medicine belongs to Sagri's chain (veterinary medicine -> pig, cattle, and milk cattle -> meat, milk, and processed food -> preservation + distribution). This is one of reasons for forming joint venture between investors.