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Pharmacity announced that the chain has been profitable since the fourth quarter of 2025. Photo: Pharmacity. |
Pharmacity, a chain of pharmacies, has announced it has received additional growth funding from healthcare investment fund LeapFrog Investments to expand its pharmaceutical retail network in Vietnam.
The value of the deal has not been disclosed. However, according to DealStreetAsia , Pharmacity was previously reported to be aiming to raise around $60 million through a combination of equity and debt financing.
Pharmacity stated that the new funding will be used to expand its network of over 1,100 stores nationwide, particularly in second- and third-tier cities. The chain also plans to open an additional 500 stores in the next three years, after adding 140 outlets in 2025.
Pharmacity CEO Deepanshu Madan stated that the company has recorded several consecutive profitable quarters since Q4 2025. According to LeapFrog, Pharmacity achieved revenue growth of over 35% in the first quarter of this year, while same-store sales increased by over 20%.
This new fundraising move shows Pharmacity is returning to the expansion race after a prolonged restructuring period. It also signals a new phase of increasingly fierce competition in the Vietnamese pharmaceutical retail market.
In recent years, the modern pharmacy chain market has grown rapidly with a "three-way" race involving Pharmacity, Long Châu (backed byFPT Retail), and An Khang (backed by The Gioi Dien Dong).
According to market data compiled by various research firms, the modern pharmacy chain model in Vietnam has surpassed 4,000 outlets by 2026 and is strongly shifting away from Hanoi and Ho Chi Minh City.
In this race, Long Chau is currently emerging as the most financially efficient enterprise. By 2025, the chain is expected to achieve revenue of over VND 34,500 billion , a 36% increase, contributing more than 83% of FPT Retail's EBITDA (earnings before tax, depreciation, and interest). The Long Chau system currently has over 2,400 pharmacies and more than 200 vaccination points/centers.
Meanwhile, Mobile World 's An Khang pharmacy chain is developing in a more cautious direction to improve profitability and reduce losses after years of aggressive expansion.
Pharmacity was once a pioneer in the modern pharmacy model in Vietnam, but at one point it fell behind in the competition with Long Chau due to its rapid expansion strategy and integrated retail model covering many consumer goods categories.
However, the fact that businesses are returning to expansion after becoming profitable is seen as a sign that the pharmacy race is entering a new phase, where businesses are not only competing in terms of coverage but also aiming to build a healthcare ecosystem.
Source: https://znews.vn/pharmacity-goi-them-von-ngoai-quyet-dau-long-chau-an-khang-post1654897.html
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