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State-owned pharmaceuticals to become holding company in 2019
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A storefront bears the Kimia Farma logo. (Tribunnews/Tribunnews)
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tate-owned pharmaceutical companies PT Kimia Farma, PT Indofarma, PT Biofarma and PT Phapros are to become a state-owned pharmaceutical holding company next year in a move expected to improve efficiency.
The pharmaceutical holding company was initially scheduled to be established this year, but preparations among the relevant parties had been stuck in technicalities, Kimia Farma president director Honesti Basyir told kontan.co.id on Wednesday in Jakarta.
Honesti added that all preparations were expected to be completed next year.
“We are still waiting for direction from the State-Owned Enterprises Ministry,” he said.
He said that all stakeholders needed to thoroughly discuss legal and financial matters to ensure that the holding company's establishment would proceed smoothly.
Honesti said Kimia Farma was also preparing to join the holding company, if the government had made a final decision on its establishment.
Phapros president director Barokah Sri Utami made a similar statement, that the holding company was still in process.
Barokah said Phapros was currently focusing on improving its internal performance, and that it was on track through October to reach this year's target of Rp 1.4 trillion (US$95.88 million) to Rp 1.5 trillion. (bbn)
