Schering-Plough Indonesia expects 20% profit rise

JAKARTA (JP): The manufacturer of pharmaceutical products, PT Schering-Plough Indonesia, expects its profits to rise 20 percent this year, company spokesman Tjiptono Darmadji said yesterday.

Tjiptono said the profit rise would result from a price rise of between 8 percent and 9 percent and increased sales.

He did not say how much he expected sales to rise.

The company reported a 33 percent profit growth to Rp 7.3 billion for 1995.

"Overall, our company is in good financial shape, meaning that our performance has improved steadily over the years," he said.

Schering-Plough Indonesia, a joint venture involving Schering Corporation of the United States, is one of nine chemical companies listed on the Jakarta Stock Exchange.

The company's annual earning per share increased to Rp 2,093 (87 U.S. cents) last year from Rp 2,040 in 1995.

Tjiptono said the company's sales had continuously increased from Rp 25.18 billion in 1993 to Rp 30.16 billion in 1994 and Rp 39.74 billion in 1995.

Special exports to Russia caused an 112 percent increase in the company's export earnings to Rp 8.43 billion in 1995 from Rp 3.97 billion in 1994.

Between January and November last year, it made Rp 3.9 billion in export earnings, around 10 percent of its total sales of Rp 35.23 billion.

The company plans to launch new products and new versions of existing products in new markets this year.

Tjiptono said the launch of a new version of the company's Claritine, a widely-used non-sedative antihistamine, in the next few months was expected to push up this year's sales.

Tjiptono said he was optimistic that sales of Claritine would increase following a recent announcement by the U.S. Food and Drugs Administration office to withdraw Seldane and Seldane D, two brands of antihistamines which are said to cause serious side-effects.

Other products manufactured by the company include hepatitis medication, injectable antibiotics and dermatology products. (02)