Phapros Expands Product Development Through Collaboration and Innovation

JAKARTA, May 31, 2023 – PT Phapros Tbk (PEHA), a part of the State-Owned Pharmaceutical Holding, continues to expand to ensure sustainable growth in the industry. In line with this commitment, Phapros is currently undertaking product development initiatives through strategic collaborations with various parties, including its subsidiary PT Lucas Djaja, as well as domestic and global institutions.

This collaboration is mainly focused on utilizing production facilities to expand the pharmaceutical formulation offerings by Phapros, particularly in the over-the-counter segment. The ongoing product development efforts aim to introduce innovative dosage forms to complement Phapros' existing product line, especially in the travel convenience and cough and cold therapy classes.

The development of these dosage forms includes the production of chewable tablets, lozenges, powder sachets, ready-to-drink preparations, and others. This initiative reflects Phapros' commitment to continuous innovation, which has been a key factor in its sustainable success.

According to the President Director of PT Phapros Tbk, Hadi Kardoko, in addition to expanding the range of dosage forms, Phapros is also involved in developing new product variants in the antidiabetic and immunology therapy classes, collaborating with diverse partners to ensure the best quality and efficacy.

"This development is part of Phapros' long-term plan, with plans for release in the next one to two years. It is also a response to the increasing demand for pharmaceutical products that align with current industry trends and consumer preferences for more convenient medication consumption," he explained.

The ongoing product development initiatives are also in line with the company's strategic goal to increase the proportion of branded drugs in its product portfolio, with the aim of enhancing profitability. Phapros acknowledges the importance of adapting to evolving market demands and remains committed to meeting consumer needs through continuous improvement and innovation.

"We are very excited about the ongoing collaborations and product development in our portfolio. Through these initiatives, Phapros aims to provide various innovative and convenient pharmaceutical products to our consumers, addressing their evolving needs and preferences. This expansion is also aligned with our strategic goal of improving profitability and strengthening our position in the market."

In addition to strong product development efforts, Phapros has also recorded positive performance in the first quarter of 2023. The company has achieved an increase in sales performance, particularly in the branded prescription drug segment, by 8.9%, expanding market share, and optimizing operational efficiency. This success demonstrates Phapros' commitment to achieving positive results and delivering added value to stakeholders.

"With these encouraging achievements, Phapros is ready to continue its positive momentum and make a meaningful contribution in the pharmaceutical industry in this region," concluded Hadi.