Hard work ahead for Indofarma board<\/p>\n
Evi Mariani, The Jakarta Post, Jakarta<\/p>\n
Five new directors were given their assignment on Monday: Stop
\nthe financial bleeding at state-owned pharmaceutical company
\nIndofarma.<\/p>\n
The company's shareholders agreed in their annual meeting to
\nappoint M. Dani Pratomo, former president director of another
\nstate-owned pharmaceutical company Phapros, as its president
\ndirector. They also appointed Sudibyo P. as financial director,
\nM. Naguib as marketing director, Yuliarti R. Merati as production
\ndirector and Anung B. Mahatma as human resources director.<\/p>\n
According to its 2002 audited report, Indofarma booked Rp
\n59.82 billion in net losses, reportedly due to mistakes in
\ninventory and expensive marketing programs.<\/p>\n
In 2001, Indofarma reported Rp 122.54 billion in net profit.<\/p>\n
One of the strategies to reverse Indofarma's condition, Dani
\nsaid, was improving the company's product portfolio.<\/p>\n
\"I will push the sales of Indofarma's over-the-counter (OTC)
\nand prescription medicines, which have higher profit margins,\" he
\nsaid.<\/p>\n
The company depends greatly on its sales of 80 percent of its
\ngeneric drugs and 20 percent on non-generic ones such as OTC and
\nbranded prescription medicines. The generic drugs generate a
\nlower profit for pharmaceutical companies like Indofarma, Kimia
\nFarma and Phapros.<\/p>\n
A pharmaceutical industry analyst at BNI Securities, Fitri
\nMurniawati, praised Dani's plans.<\/p>\n
\"I think Indofarma has potential in OTC products,\" she said.
\n\"The ideal proportion for Indofarma's product portfolio is 60
\npercent for generic and 40 percent for the non-generic drugs.\"<\/p>\n
Responding to a plan from the government to merge Indofarma
\nwith state-owned Kimia Farma or Phapros, she said the plan would
\nbe good for both Indofarma and the pharmaceutical industry.<\/p>",
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