Honesti Basyir is putting Kimia Farma on a growth path.
PT Kimia Farma is the country’s biggest state-owned pharmaceutical company. In 2017, it re-corded annual revenue growth of 5.4% to Rp 6.1 trillion, in line with the 5% national growth of the sector. In profits, however, the company is on a roll. Last year, net profit jumped 22% to Rp 332 billion. “Improvement of production operations had a big impact on efficiency. By focusing on our production system, we were able to maintain our cost of goods,” says Kimia Farma President Director Honesti Basyir. For example, Kimia Farma is now buying its raw material in bulk, with long-term contracts, to get them at lower prices.
Despite the good results, Honesti wants to aim higher. He targets Kimia Farma to have revenue growth of at least 10%, and become one of the top three largest drugmakers in the country (it now ranks sixth, by revenue). To reach that goal, Honesti, who joined the company last year, aims to aggressively expand the firm, in part through M&A. He has allocated Rp 3.5 trillion for capital expenditure, some Rp 2.2 trillion of which will be used to acquire other companies in injection drugs, medical devices, hospitals and cosmetics.
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