On Sunday police announced the arrest of a pharmaceutical executive's accomplice suspected of illegally importing an estimated US$1 million worth of medicine.
Vo Manh Cuong was taken into custody on September 19, the same day Nguyen Minh Hung, chairman and CEO of the Ho Chi Minh City-based VN Pharma were arrested, police from the Ministry of Public Security said.
Police search VN Pharma's headquarters in Ho Chi Minh City on September 19, carting off a number of documents. Photo: Bach Duong
Hung and Cuong were also suspected of making counterfeit documents for the illegally-imported consignments to distribute them on the local market, police said.
Established with a registered capital of VND40 billion (nearly $1.9 million) in late 2011, VN Pharma has soon become a “pharmaceutical giant” in Ho Chi Minh City.
It also has branches in Hanoi and the Mekong Delta provinces of An Giang and Ca Mau.
The company distributes cardiovascular, gastrointestinal, and cancer medicines, antibiotics, and functional foods, which are bought from foreign and local drug firms.
Besides, it also produces sanitary and medical biochemical products and offers pharmaceutical logistics services.
VN Pharma won many large public contracts to supply medicines to hospitals in Ho Chi Minh City this year, leaving questions open to people in the city’s health industry.