Baxter, Kalbe tie up

Baxter, Kalbe tie up

DEERFIELD, USA (Reuter): Baxter World Trade Corp, a unit of Baxter International Inc, said it formed a joint venture with PT Kalbe Farma, the largest pharmaceutical company in Indonesia.

Under the agreement, Baxter acquired 51 percent of PT Pfrimmer Infusol, a Kalbe Farma subsidiary.

Baxter said the investment in Pfrimmer supports its expansion strategy in the Far East. It added that it expects its sales in the region to increase to about US$500 million by the year 2000 from $100 million in 1995.

"Partnering with Kalbe Falma represents Baxter's best opportunity to develop a leadership position in Indonesia," Manuel Baez, Baxter executive vice president, said in a statement.

The agreement calls for the expansion of existing Pfrimmer facilities to produce intravenous solutions in Baxter's Viaflex containers.

The venture's 60-person sales and marketing staff also will be expanded to include direct sales throughout Indonesia.