Kalbe to Boost Investment by a Third in 2016
Jakarta. State-controlled Kalbe Farma, Indonesia’s biggest listed pharmaceutical company, plans to increase its investments by 30 percent next year to Rp 1.2 trillion ($88 million) as it continues its expansion.
Among its projects is a Rp 600 billion plant in Bekasi that will produce generic drugs and is expected to go online in 2018, according to Kalbe finance director Vidjongtius.
Kalbe will operate the plant in a joint venture with South Korea’s Genexine Biologics, Vidjongtius said on Thursday.
The company also plans to spend up to Rp 300 billion developing its over-the-counter drugs division.
The remainder of the investment will go toward opening two branches in Sulawesi, Maluku or Papua. It has not decided on the final locations of the branches.
“Eastern Indonesia is a vast area and has a lot of potential, but our products there are limited,” Vidjongtius said.
Kalbe currently has 72 branches in 52 cities across Indonesia.
The company targets profit growth of 10 percent next year, compared to a projected 4 percent decline this year.
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