I. DOMESTIC AND INTERNATIONAL PHARMACEUTICAL NEWS Pharma trends for 2017

II. IMEXPHARM SHARE PRICE DEVELOPMENTS1. IMP in 4th Quarter, 20162. IMP price developments compared to other listed pharmaceutical companies III. IIMEXPHARM’S BUSINESS ACTIVITIES IN 4TH QUARTER, 20161. Results of business operations and finance for 2016

CONTENTS

I. NATIONAL AND INTERNATIONAL PHARMACEUTICAL NEWSPharma trends for 2017High-tech pharmaceutical products“The big thing that strikes me is how pharma is be-

coming more and more dependent on medtech,” re-

ported Dr. Munna Choudhury, a consultant special-

ist at AlacraMed, in an interview with Life Science

Investing News. “Times when pharma companies

develop new medicaments in solitude are gone.

Nowadays, people focus on improving product

values.” Prepared medicaments that monitors treat-

ment compliance or inhalers that track doses are

typical cases of “medtech pharma” going beyond

product norms. These technological additions give

a “competitive edge” to pharmaceuticals.

And thus we are to witness more surprising collab-

orations in the coming years. “There are more and

more transactions with unlikely players including

Google, telecoms companies and mobile device

manufacturers,” Choudhury noted.

These high-tech firms are assisting pharmaceutical

manufacturers in going beyond limits of standard

medicaments and developing better products to

support diagnostics, monitoring, and compliance.

That is an important point in a market with grow-

ing limits. “Nowadays we can hardly invent holistic

products with high commercial prices due to strin-

gent models of management and price control,”

Choudhury explained. “Therefore, it is all about add-

ed values.”

Price is always the pivotal element “2017 is a year in which progressing trends will

present themselves even more explicitly,” predicted

Dr. Carole Bruckler, a consultant specialist in phar-

ma industry. “In the US, there is clear political will

forming against annual or quarterly drug price in-

creases to fuel sales growth.”

“Trump plans to open wide the “firewall” of the phar-

ma industry to fight harsh competition and the plan

of equal prices adjustment, both are likely to jeopar-

dize profits,” the analyst George Budwell expressed

his idea on Fox Business. And that means pharma

companies need to redeem their business models.

“In order to secure pharma profits in the future,”

Bruckler concluded, “it is necessary to concentrate

more on sales growth. Therefore, investors in the

market are to really understand the substance be-

hind their investments.”

The Brexit storm“The weakening pound sterling, confusion around

prospects of EU funding sources, changes to the

Clinical trial directive are reasons for everyone’s

speculation that pharma companies will delay M&A,

investment, expansion or R&D projects until effects

of Brexit become clearer,” Dr. Linda Summerton, CEO

of Immodulon reported to Life Science Investing

News. “Delayed development can adversely affect

the growth of the pharma industry in the long run,”

Summerton warned. What is even worse? It can “ne-

gate all progresses realized in the last 10 years.”

However, Summerton also notes that Brexit pres-

ents a rare chance for the UK pharma industry. She

believes the industry must now find new market ap-

proaches. “Brexit brings us a just cause to redeem

initiatives,” she explained, “as well as to propose new

ideas to support small companies.”

A development hot spotDespite turbulent events in 2016, experts always

remain keen on future prospects of the pharma in-

1. IMP in 4th Quarter, 2016General information

Stock code IMPStock exchange HSXPrice range of 52 weeks (VND) 36,700 – 67,000Amount of listed shares 28,942,646Amount of current shares 28,932,346

Fields of operation Pharmaceutical manufacturing and trading

Value of market capitalization (as of 12/31/2016) 1,617.3 billion VND Room for foreign investors 49%Dividend/share value (VND) 2,000Dividend/Market price ratio 3.6%P/E (times) 18.2P/B (times) 1.7Structure of shareholders(Source: Vietnam Securities Depository, as of 12/19/2016)- State Owned 23.75%- Foreign Investors 48.99%+ Therein:Foreign Professional Investors (FPI)being significant Shareholders who own more than 5% of shares

22.81%

- Special Shareholders (Board of Directors, Board of Managers, Supervi-sory Board, Chief Accountant, Authorized Discloser), Labor Union 1.95%

- Domestic strategic shareholders (not professional investors) 9.09%- Others 16.22%

VNIndex in 4th Quarter saw decreasing developments, reached 664.87 at the end of quarter, decreased 2.7% compared to the beginning of quarter. However, VNIndex increased by 15.7% for the whole year 2016.IMP price in the 4th quarter fell sharply due to impacts from finalizing the list of exercising rights of existing shareholders in the last month of the year. At the end of the quarter, IMP price reached 55.9, decreased by 15.2% compared to the quarter beginning. For the whole year 2016, IMP price increased by 51.1%.

The total trading volume of both put-through and order-matching transactions of IMP shares in 4th Quarter amounted to 1.45 million shares, averaging about 22.3 thousand shares per day. For the whole year 2016, over 10.6 million IMP shares were traded, averaging 42.3 thousand shares per day.

IMP TRANSACTION VOLUME OF THE 4TH QUARTER, 2016

2. IMP price developments compared to other listed pharmaceutical companies

II. IMEXPHARM SHARE PRICE DEVELOPMENTS

At the end of the 4th quarter of 2016:- IMP price reached 55.9, decreased by 15.2% compared to beginning of the quarter; but this means a 51.1% increase compared to beginning of the year.- DHG price reached 98.0, decreased by 15.7% compared to beginning of the quarter; but increased by 49.6% compared to beginning of the year.- DMC price reached 67.5, decreased by 23.3% compared to beginning of the quarter; but in-creased by 63.8% compared to beginning of the year.- OPC price reached 38.9, increased by 8.1% compared to beginning of the quarter; and increased by 11.1% compared to beginning of the year.- DCL price reached 23.4, increased by 30.0% compared to beginning of 2016.

DEVELOPMENTS OF VNINDEX AND IMP IN 4TH QUARTER, 2016

(Informant: Pharmacist Nguyen Hai Dang - Pharmaceuticals & Cosmetics Magazine)

dustry and its adaptability to incoming challenges.

“There are always great rewards for creativity in pharmaceuticals,” Bruckler said. By this, she would like to

hint at developments in cancer treatment, immunotherapy and rare diseases. Jeff Margolis, Vice President

of RespireRx Pharmaceuticals (Cortex Pharmaceuticals) agrees with the opinion: “I think cancer immuno-

therapy is going to be fertile soil for investors. This field is increasingly gaining significance in healthcare.”

(Source: vndirect.com.vn)

No Criteria 2016 2015 (+/-) 2016/ 2015

I Business Results (million VND)1 Total Revenue 1,021.0 983.1 3.9%2 Net Revenue 1,010.3 964.3 4.8%

3 Profit before tax and Fund for Science & Tech-nology Development 140.3 131.7 6.5%

4 Profit before tax 126.3 118.7 6.4%5 Profit after tax 101.0 92.9 8.7%II Assets - Capital (million VND)1 Total assets 1,155.3 1,092.7 5.7%2 Charter capital 289.4 289.4 0.0%3 Equity 935.7 906.8 3.2%III Liquidity (times)1 Quick ratio 2.5 3.2 2 Short term ratio 3.6 4.8 IV Profitability

ROS 10.0% 9.6% 0.4%ROE 11.0% 10.9% 0.1%ROA 9.0% 8.8% 0.2%EPS (VND/share) 3,071 2,817 9.0%DPS (VND) 1,800 2,000 -10.0%BV (VND) 32,333 31,332 3.2%P/E (times) 18.2 13.3 P/B (times) 1.7 1.2 Price as of 12/31 55,900 37,500 49.1%

In 2016, the total net revenue and income amounted to 1,021 billion VND, equivalent to 92.8% of the 2016 plan, which marks an increase of 3.9% compared to 2015. In particular, revenue of Imexpharm products reached 867.5 billion VND. In which the revenue from OTC accounted for 83.1%, increased 9.9%; revenue from ETC accounted for 17.7% with a sharp increase of 55.7%. Total net revenue before tax and before the Fund for Science and Technology Development amounted to 140.3 billion VND, achieved 100.2% of the planned profit amount, increased by 6.5% compared to the previous year. Profit after tax of 2016 amounted to 101 billion VND, increased by 8.7% compared to the previous year.Total assets by year end reached 1,155.3 billion VND, increased by 5.7% compared to 2015. Equity amount-ed to 935.7 billion VND, increased by 3.2% compared to the previous year.Liquidity ratios of Imexpharm stayed in a reasonable and safe range. Profitability indicators such as ROS, ROE and ROA were quite healthy with some improvement compared to the previous year. The earning per share (EPS) value reached 3,071 VND/share, increased 9,0% compared to 2015. The book value (BV) amounted to 32,33 VND, increased by 3.2% compared to the previous year.The expected dividend (submitted to the General Assembly of Shareholders of 2015) is 1,800 VND/share.

III. IMEXPHARM’S BUSINESS ACTIVITIES IN Q4TH - 2016Results of business operations and finance for 2016