JAKARTA - PT Merck Tbk (MERK), a pharmaceutical company in Indonesia, announced it will lose a potential income of Rp 32 billion because Bayer Consumer Care AG diverts demand for Thiamine products through Germany. Bayer is a global customer of Merck's drug ingredients.
As quoted from the disclosure of company information on Monday (16/3), Evie Yulin, President Director of PT Merck Tbk (MERK) said that the company no longer distributes Thiamine products to Bayer Indonesia. "The company received a notification letter from Merck KGaA, the company's main shareholder, due to a request from Bayer Consumer Care AG which decided to allocate and change the process of global procurement of Thiamine products through Germany," he said.
According to him, he will continue to maximize the products of other medicinal raw materials to maximize revenue. In June 2019, Merck's total assets decreased 33% to Rp 849 billion from total assets in December 2018 of Rp 1.26 trillion. The decline in assets was due to a decrease in cash by 81% from a number of Rp 403 billion in December 2019 to Rp 78 billion in June 2019. (LK)