Pharmaceutical company PT Pyridam Farma Tbk (PYFA) acquired 100% stake in PT Holi Pharma. Through this transaction, PYFA hopes to continue the company’s expansion plans.
Director of PT Pyridam Farma Tbk, Yenfrino Gunadi, said that this expansion would increase the group’s overall production capacity by more than three times the existing capacity.
“We believe that this acquisition will strengthen our position in the Indonesian pharmaceutical industry,” he said on Thursday (26/8/2021).
He revealed, this acquisition process is the first step of various initiatives being developed by the company. Going forward, he said the company will continue to innovate by establishing strategic partnerships with various industries to advance the healthcare industry in Indonesia and present products that answer the needs of the Indonesian people.
For information, PT Pyridam Farma Tbk is a pharmaceutical company whose main business is the production and or distribution of modern and traditional medicines as well as the distribution of medical devices such as laboratory equipment and also PCR test kits.
For the first quarter of 2021, PYFA managed to record sales growth of 49% compared to the same period in 2020. The increase in sales was still supported by sales of medical device products which increased by more than six times.
The medical device division contributes 23% to the company’s total net sales.