About
Us

Khuong Duy Pharma was one of the first local pharma private distribution company established in 1995 to distribute imported products. The business has been growing well over the last 25 years.

By 1999, Khuong Duy’s management realized that it would be very difficult to sustain the business without its own products. At that time, the representatives recognized that the industrial manufacture of generics drugs would be an advance in the protection of people health.

The Company was born by this decision and the production facility established in 2000 in Ho Chi Minh City, a biggest and busiest with energy in Vietnam, under the name M.S.T Pharma Co Ltd (“M.S.T”).

The first private pharmaceutical factory in Vietnam was built in Hoc Mon, Ho Chi Minh City focusing on solid, liquid and topical forms with designed monthly output at 40 million units and it was also first private pharmaceutical factory in Vietnam after 1975.

M.S.T Pharma manufacturing facility as first company accredited with ASEAN GMP by Vietnam Ministry of Health.

In proportion with the local market growth, the M.S.T’s Representatives decided to expand its business, product portfolio by entering in to a 50:50 Joint Venture Company with its partner, the STADA Arzneimittel, Germany. This was the first new pharma joint venture at the time.

The Joint Venture officially started operation from January 2003 under the name STADA-VN Joint Venture Company Limited.

By 2002, HIV/AIDS became a major health issue in Vietnam. STADA-VN Joint Venture Company had decided to launch its first ARV under the name Lamzidivir as the first local-made ARV. The product had been attracted lots of international and local attention from all health-concerned community, authorities and media at the time.

STADA-VN Joint Venture Company Limited started to be recognized as the pioneer in the local pharmaceutical sector.

To sort out the capacity issues as well as upgrading technology and compliance, STADA-VN J.V decided to build the second modern factory complying with EMA guidelines as well as a new R&D unit.

The new facilities would not only serve the local market but also help STADA-VN J.V to reach out to overseas market, including EU regions.

After a month the factory audited by the local authorities in December 2007, European Medicine Agency (EMA) authority inspected the new facility and official approval was given in February 2008. STADA-VN Joint Venture Company Limited became the first manufacturer in VN accredited by EMA and the first pharma company with products exported to Germany.

At the same time, R&D Unit also became one of the strongest local pharma R&D, paving the way for STADA-VN J.V to expand its export markets.

Since 2008 to date, numerous GMP audits by stringent authorities are periodically conducted at our facilities such as WHO Prequalification, Taiwan FDA, PMDA, etc. with all resulted with satisfactory approval.

We proud of our Binh Duong facility accredited with International WHO by Geneva World Health Organization affirming our commitment to high quality products to patients worldwide.

In 2014, the second factory accredited Japan GMP by Pharmaceuticals and Medical Devices Agency, one of the most developed pharmaceutical country in the world.

On closing its year, the consolidated turnover was exceed USD 100 million; the output reached 2.8 billion units per annum; and the export market had covered more than 50 countries/territories for the first time. STADA-VN J.V has become the biggest exporter of pharma products of Vietnam. 

However, due to the 50-50 J.V status, STADA-VN J.V started to suffer certain restrictions in its growth strategy. By mid- 2017, Khuong Duy and M.S.T decided to become the major shareholder by buying back the shares from STADA Pharmaceutical (Asia) Limited, an affiliate of STADA Arzneimittel, Germany. The negotiations was actively pursued and basically concluded by end of 2017.

After almost 20 years using the same artwork style, STADA-VN J.V decided to launch a totally new brand recognition system, reflecting its new business image and status.

In 2018, the Company also signed Sub-Licensing Agreement with Hetero and Gilead allowing the company to manufacture Hepatitis C Product. This was a breakthrough line for the company in strengthening our portfolio and commitment to people’s healthcare.

The Lesovir, a fixed dose combination product (Hepatitis C), was intended to launch in the local market on Q1/2020 that helping the low- and mid- income patients in Vietnam to access the treatment.

In line with the buyout schedule, STADA-VN Joint Venture Company Limited changed its name to STELLAPHARM J.V CO., LTD. on 16 August 2019.

On 20 December 2019, M.S.T Pharma Company Limited and Auxilto Healthcare International Private Limited successfully acquired 42% and 8% of contributed capital owned by STADA Pharmaceutical (Asia) Limited in STELLAPHARM J.V. CO., LTD. respectively. Under this new joint venture, M.S.T owns 92% of contributed capital and Auxilto owns 8% of contributed capital in the Company. We have established a new record “The first local company successfully buys out its foreign partner.”

In spite of all the changes, growth of the new J.V keeps growing steadily at the annual rate of 8%. Stellapharm set its vision to become a major pharmaceutical player of the industry in a near future. More and more projects are rolling out to actively achieve this objective.

On 17 March 2020, Stellapharm J.V. Co., Ltd. (the “Stella” or “Company”) and Joint Venture Contractors of Bach Khoa Group & Takenaka organized groundbreaking ceremony for its Hormone – Steroid – Ointment Factory complying with EU-GMP and PIC/S in Vietnam – Singapore Industrial Park, Thuan An City, Binh Duong Province.

Upon completion, this will be the first steroid-hormone pharmaceutical factory in Vietnam and among a few ASEAN factories built in compliance with European Standards for this line of products.