The subsidiary of pharmaceutical producer, PT Phapros Tbk (IDX: PEHA) PT Lucas Djaja, has exported Dexamethasone and amoxicilin to Afghanistan and Myanmar - Photo by the Company

JAKARTA (TheInsiderStories) – The subsidiary of pharmaceutical producer, PT Phapros Tbk (IDX: PEHA) PT Lucas Djaja, has exported Dexamethasone and amoxicilin to Afghanistan and Myanmar, the company said today (10/21).

“Until mid-October 2020, the company’s total exports grew by 17%. The company also hopes that the export value will grow along with the company’s plan to export 17 containers again until November 2020, ” Ninung explained in an official statement, Tuesday (20/10).

Lucas Djaja is a subsidiary of Phapros which is domiciled in Bandung, West Java. This company is the result of an acquisition made at the end of 2018 with a share ownership of 90.22 percent. According to CEO of Phapros, Hadi Kardoko, the export was expected to boost the company’s export revenue to more than 5 percent in this year.

“We are still aggressively expanding our business this year, even in the midst of the current COVID-19 pandemic,” he said in an official statement.

 In 2019, PT Kimia Farma Tbk (IDX: KAEF) has acquired 56.77 percent or 476.90 million shares of Phapros from other state-owned agribusiness company, PT Rajawali Nusantara Indonesia. The purchasing is to increase its pharmaceutical market shares to six percent and enrich the drug production portfolio.

Since last year, the parent has planned to acquire a pharmaceutical company and three hospitals. The company has allocated Rp2.2 trillion for the acquisition program. In February 2018, the company was bought 60 percent shares of Dawaa Medical Ltd. Co. which has a pharmaceutical network in Saudi Arabia with worth Rp139 billion.

This action was part of Kimia Farma’ planned to expand the market to the Middle East and Africa. The company also plans to build 90 retail outlets and open a drug factory in Saudi Arabia.

In Indonesia, Kimia Farma aimed to adds production facilities in Banjaran, West Java. The company developed ethical drug factories and herbal medicine factories at Banjaran, West Java, with total investment around Rp1.1 trillion.

In Cikarang, Bekasi, the producer also build the new factory to produce raw materials for medicine, cosmetics and food supplements with total investment Rp132.5 billion. The factory is operated by PT Kimia Farma Sungwun Pharmacopia, a joint venture between Kimia Farma and Sungwun Pharmacopia Co. Ltd., from South Korea.

About 20 percent of the production from the factory will be allocated to domestic needs while 80 percent will be exported. The construction of a drug raw material factory is also carried out to reduce the company’ dependence on imported raw materials. As is known, about 90 percent of domestic drug raw material needs are still imported.

As of June 30, 2020, Phapros posted a 17.78 percent decline in annual sales to Rp453.92 billion (US$30.87 million). Net profit also decreased by 43.71 percent on an annual basis to Rp26.88 billion.

US$1: Rp14,700

Written by Editorial Staff, Email: theinsiderstories@gmail.com