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State-owned pharmaceutical holding aims to generate Rp 16.8 trillion in revenue this year

06 February 2020 11:56

JAKARTA. The newly established Indonesian state-owned pharmaceutical holding company aims to generate Rp 16.8 trillion in consolidated revenue this year.

The holding is a consolidation between PT Bio Farma (Persero) as the parent, and PT Kimia Farma Tbk (KAEF) and PT Indofarma Tbk (INAF) as members.

Honesti Basyir, Director of Bio Farma, said that so far no company has succeeded in gaining a high market share in Indonesia. The reason is that more than 200 companies engaged in the pharmaceutical industry in Indonesia. By consolidating into a state-owned holding, Bashir was optimistic that his party's market share could increase.

"After (the establishment of) holding, we are optimistic that it can become the number one in the country by targeting 7.5% -10% market share by the end of the year," Basyir explained as reported by Kontan on Thursday (6/2) today. (KR/AR)

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