Pharmaceutical Issuer PYFA Aims Even Higher to Climb to the Top Ranks of the Healthcare Industry.
The pharmaceutical, chemical, and traditional medicine industries are experiencing rapid growth. Data from the Ministry of Industry show promising growth in pharmaceutical and over-the-counter drug production, with an 8.01 percent increase in the second quarter of 2024. Total exports from the Indonesian pharmaceutical and drug industry from January to September 2024 reached USD 639.42 million or Rp 9.9 trillion. This increase in the sector is attributed to the contribution of local pharmaceutical companies capable of competing in the global market.
Pharmaceutical stocks listed on the Indonesia Stock Exchange (IDX) can be promising investments due to their stable demand (from the public) for medicines/vitamins. One such publicly listed company in the Indonesian pharmaceutical sector is PT Pyridam Farma Tbk (PYFA), now known as PYFAGROUP. Currently, PYFA aims to enter the top 10 listed pharmaceutical companies based on market capitalization.
From a discussion on Live Instagram with PT Sucor Sekuritas (Sucor) on Thursday, February 13th, it was revealed that within PYFA’s ecosystem, they produce upstream to downstream products, including the Research & Development Center, prescription and non-prescription drugs in various forms (tablets, capsules, creams, syrups, and injections), contract development and manufacturing organization (CDMO) services, commercialization, and distribution of medical devices and healthcare products.
Based on the Financial Statements as of September 30, 2024, PYFA’s sales jumped 123% to Rp 1.16 trillion in the third quarter of 2024, from Rp 520.47 billion in the same period last year. The issuer targets PYFA’s revenue in the third quarter of 2024, particularly from pharmaceutical product sales, aesthetic, and contract manufacturing, to reach Rp 1.29 trillion, up from Rp 617.8 billion in the same period last year.
To increase capabilities and operational efficiency in the future, several strategic initiatives are being implemented, including accelerating R&D activities at the XtAlPi R&D Center in Cikarang through research and development based on AI and robotics, developing the consumer health & personal care sector through the PYFAHEALTH and PYFABEAUTY business units, and expanding distribution through various consumer channels to make products more accessible and easier to obtain. PYFA is also actively pursuing strategic partnerships both domestically and internationally, through joint ventures, contract manufacturing, and exclusive distribution agreements.
“This model enables us to accelerate exponential growth in enhancing core strategic capabilities or expanding new distribution channels without requiring long-term infrastructure or capital investments, which would certainly take longer and require greater investment, thus making it more efficient and faster to develop the domestic market and penetrate the international market,” said Angkes Anto Prasetio, Chief Commercial Officer of PT Pyridam Farma Tbk, during a Live Instagram session with Sucor Sekuritas (13/02/25).
Anto further encouraged collaboration to open up more opportunities and expand the market further. “PYFA must be able to accelerate commercial development by adding to its business line in the world of pharmaceuticals, developing the consumer healthcare and beauty (cosmetics) portfolio, namely Pyfahealth and Pyfabeauty,” he said.
With the acceleration of acquisitions of various capabilities and strategic expansions of business units, exponential growth is projected for PYFA in the coming years. PYFA aims to climb even higher in the top ranks of the healthcare industry. “We are optimistic about realizing this aspiration,” said Anto.
About PYFAGROUP
PT Pyridam Farma Tbk, now known as PYFAGROUP, is a publicly listed pharmaceutical company on the Indonesia Stock Exchange (Stock Code: PYFA). PYFAGROUP has business units that include prescription drugs in various forms such as tablets, capsules, creams, syrups, and injections. PYFAGROUP has several well-known subsidiaries, including PT Holi Pharma, PT Ethica Industri Farmasi, and Probiotec Pty Ltd.
About Sucor Sekuritas
PT Sucor Sekuritas was established in Surabaya in 1989. In a short time, Sucor Sekuritas has built a reputation as one of the leading companies in the equity and financial markets, along with developing asset management and lending services. With a track record of nearly 30 years in the industry, Sucor Sekuritas continues to strive to build and support the Indonesian capital market.
The “Best Securities” award at the 2022 CNBC Indonesia Awards and the “The Best Online Trading App For Millennial” award in 2022 are testaments to Sucor Sekuritas’ achievements. Sucor Sekuritas targets to attract 20,000 new customers in 2022 and hopes to double that number in 2023. Currently, Sucor Sekuritas has 40 branches in various regions of Indonesia. The Cawang Green Lake City Tangerang branch was opened on Wednesday, April 5, 2023. Sucor Sekuritas plans to open two new branches in 2023.
