Baxter acquires Kalbe Farma unit
Baxter acquires Kalbe Farma unit
JAKARTA (JP): Baxter International, a major worldwide
manufacturer and marketer of health-care products, has acquired
51 percent of Kalbe Farma's subsidiary, PT Pfrimmer Infusol
Indonesia, for US$3.4 million.
"Through this acquisition, we expect a growth of 30 percent in
our sales and profits this year," Kalbe Farma's president, Budhi
Dharma, told a press conference yesterday.
The Jakarta-based Pfrimmer Infusol produces a number of
pharmaceutical and nutritional products, such as Amino Fusin L600
(Amino acid solution), Triofusin 500 (carbohydrate solution),
Aminofusin Hepar (Hepar solution), Tutofusin Ops (Electrolite
solution), Plasmafusin 4% (Plasma solution), Intralipid 10%
(Essential fat solution). For these products, it claims to have a
local market share of 65 percent.
Kalbe Farma, which claims to be the biggest pharmaceutical
company in Indonesia, is listed on the Jakarta Stock Exchange.
Budhi Dharma pointed out that last year Pfrimmer Infusol alone
posted a profit of more than Rp 65 billion (US$27.66 million)
from its total sales of about Rp 300 billion.
He said that Pfrimmer Infusol will expand its manufacturing
capacity by producing standard intravenous solutions in Baxter
Viaflex containers.
The chairman and chief executive officer of Baxter
International, Vernon R. Loucks Jr, who also addressed the press
conference, said that his company's investment in Pfrimmer
Infusol supports Baxter's expansion strategy in the Far East,
where the company expects its sales to increase from about $100
million to $500 million by the year 2000.
He said that Baxter now sells its products through Pfrimmer
Infusol.
"We also plan to manufacture some of our products here. But I
think it will take some time," he said.
In Indonesia, Baxter offers a wide range of products in the
blood therapy and cardiovascular fields. One of them is CAPD
(Continuous Ambulatory Peritoneal Dialysis), which was introduced
into the country five years ago for kidney/blood disease
treatment. (13)