Aug 5, 2010

Kalbe Farma jacks up profit to Rp1.3 t

Publicly listed pharmaceutical company PT Kalbe Farma Tbk revises up its net income estimation of this fiscal year from the initial target of Rp1.1 trillion to Rp1.3 trillion. 
Corporate Secretary Kalbe Farma Vidjongtius said the company has raised its estimation on the net income due to the release of the new products and the expansion of the marketing target area. 
"Therefore, we are optimistic with the net income target. Net income growth of this year was targeted to settle within the range of 30% to 40% compared to the last year's net income," he said today as reported by Bisnis.com. 
According to Vidjongtius, the company does not revise the allocation of capital expenditure amounted Rp450 billion in this year, although it raised the net income target. 
Kalbe Farma will unveil approximately 15 new products in this year, and the new products are expected to boost the financial performance of the company in the near future. 
Meanwhile, for the business of medicines, the largest pharmaceutical company plan to build a factory in Cikarang, with the allocation of investment of Rp100 billion. 
"The growth of generic drugs in Indonesia is very big, and we anticipate it by building a new factory that provides the production of generic drugs," he added. 
Currently, Kalbe Farma is finalizing the transaction process in selling its subsidiary namely PT Kageo Igar Jaya Tbk to PT Kingsford Holdings. From the acquisition, the company will snap up Rp112 billion.
"The disposal proceed will be used to develop the company," said President Director of Kalbe Farma Irawati Setiadi.

Disclosure: No position at the stock mentioned above.

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