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Kimia Farma eyes hospitals, FMCG companies in next acquisition
State-Owned Enterprises Ministry undersecretary for industrial, agricultural and pharmaceutical affairs Wahyu Kuncoro said Kimia Farma’s move to acquire Phapros was in line with the ministry’s plan to establish a pharmaceutical holding company this year.
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A man purchases products at a Kimia Farma pharmacy. (Tribunnews/Tribunnews)
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fter taking over publicly listed PT Phapros, state-owned pharmaceutical firm PT Kimia Farma is planning to acquire more companies in the healthcare and wellness business to further boost the firm’s revenue this year.
The company finalized on March 27 its purchase of 476.9 million shares, equal to 56.77 percent stake, of pharmaceutical firm PT Phapros. The shares, previously owned by state-owned diversified manufacturer PT Rajawali Nusantara Indonesia (RNI), were purchased for Rp 1.36 trillion (US$95.65 million).
Kimia Farma president director Honesti Basyir said the acquisition was part of his company’s long-term plan to strengthen its business portfolio as most of Phapros’ products could complement Kimia Farma products, which mostly consisted of generic medicines.
“We also expect Phapros’ revenue to contribute to at least 10 percent of our [total revenue] this year,” he told reporters at a press briefing event in Jakarta.
State-Owned Enterprises Ministry undersecretary for industrial, agricultural and pharmaceutical affairs Wahyu Kuncoro said Kimia Farma’s move to acquire Phapros was in line with the ministry’s plan to establish a pharmaceutical holding company this year.
He further said all state-owned pharmaceutical firms would be integrated under one holding, led by state-owned vaccine producer PT Biofarma. The process, he said, was expected to finish by the first half of this year.
“This acquisition will make it so that Phapros is included in the holding, as it has now become part of Kimia Farma,” he said.
