Indofarma targets IDR50 billion net profit in 2011

JAKARTA: The management of pharmaceutical company, PT Indofarma (Persero) Tbk, targets net profit of IDR50 billion in 2011.

The company also allocated from IDR59 billion for capital expenditure in 2011. The funds will be used to construct a tuberculosis drugs factory in Cibitung, West Java.Finance Director of Indofarma Djakfaruin Junus said that the company also has another plan to build a satellite plant. Both of the construction plans is estimated to spend IDR27 billion and IDR17 billion."As much as 15% of these funds will be taken from internal cash, while 85% of its loans will be derived from some local banks early next year," he said today.Furthermore, the company plans to launch 17 new products in 2011 consisted of 6 generic products, 5 branded products, and 6 products OTC (over the counter)."The companys development plan in 2011 is supported by Millennium Development Goals [MDGs] program which is aimed at reducing tuberculosis disease," he said.Throughout 2010, the company has completed the plant renovation in order to meet the good manufacturing practice (GMP) and to equip water treatment facilities in producing sterile products.As for the third quarter of this year Indofarma recorded a net loss of IDR31.79 billion.Until the end of November 2010 the company has achieved sales of IDR850 billion from 2010 sales target of IDR1.1 trillion."We expect net profit target of IDR12 billion can be reached in the end of 2010," said Djakfarudin. (t03/wiw)

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