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Phapros aims for 30 percent revenue growth amid challenges
Fierce competition among pharmaceutical companies, heavy dependency on imported raw materials and the increasing Healthcare and Social Security Agency (BPJS Kesehatan) deficit are among challenges in the country’s pharmaceutical industry.
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Phapros president director Barokah Sri Utami said she was optimistic the company would see a revenue increase of 30 percent this year. (Shutterstock/File)
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ublicly listed pharmaceutical company PT Phapros aims to increase its revenue by 30 percent this year despite several challenges in the industry.
Fierce competition among pharmaceutical companies, heavy dependency on imported raw materials and the increasing Healthcare and Social Security Agency (BPJS Kesehatan) deficit are among challenges in the country’s pharmaceutical industry.
Despite those challenges, the subsidiary of state-owned diversified manufacturer PT Rajawali Nusantara Indonesia (RNI) is optimistic sales will increase this year.
Phapros president director Barokah Sri Utami said she was optimistic the company would see a revenue increase of 30 percent this year.
The company booked revenue of Rp 1.02 trillion (US$71.44 million) in 2018, an increase of 2.08 percent year-on-year (yoy).
Although this year’s target is far higher than the growth in 2018, Barokah and Phapros’ board of directors are confident about achieving the target as they were prepared to carry out several corporate actions to boost sales.
“We plan on adding up to 12 new products and to also expand our business to Myanmar this year,” she told reporters in Jakarta.
