Pharmaniaga to focus on Indonesia
30-Mar-16, The Sun Daily
Pharmaniaga Bhd expects its business in Indonesia to be profitable this year with an anticipated 1-2% growth in terms of contribution to its overall revenue.
%20Pharmaniaga%20Bhd.jpg "Pharmaniaga to focus on Indonesia (c) Pharmaniaga Bhd")
Image: Pharmaniaga Bhd
“Our presence in Indonesia is quite big. We own a distribution and logistics company which is public listed (PT Millenium Pharmacon Tbk), in which we own 55% of equity, and also PT Errita Pharma which has a manufacturing plant. Indonesia is going to be the target market for us to grow our export business,” its managing director Datuk Farshila Emran told reporters.
“In Indonesia currently, we have got common products manufactured there and we got high-end generic products in Malaysia, like cardiovascular products, that we can easily export,” she said, adding that the export of products to Indonesia will take some time to materialise due to the product registration process.
The group recently upped its stake in PT Errita Pharma to the maximum of 85% via its wholly-owned subsidiary Pharmaniaga International from 75% previously. The group’s business in Indonesia contributed 23% to overall revenue last year.