Phapros Holds the Annual General Meeting of Shareholders for Fiscal Year 2023 and Public Expose

PT Phapros Tbk held the Annual General Meeting of Shareholders (AGMS) for the fiscal year 2023 last Thursday (13/6), inviting shareholders and the media online during the subsequent public expose session to present the company's achievements throughout 2023 and strategic plans for 2024. Phapros, which is also part of the State-Owned Pharmaceutical Holding, has various strategic initiatives to drive its business growth and is committed to launching several new products that will serve as growth engines for the company.

Acting President Director of PT Phapros Tbk, Ida Rahmi Kurniasih, stated that this year Phapros will have six new product registration numbers, all of which are products developed internally by the Phapros R&D Team. "We are currently developing products specifically for children with more advanced drug formulation technology, where the dosage forms we will launch are like gummy candies and lozenges, making them more appealing to children," said Ida.

Ida acknowledged that Phapros is now paying special attention to children's health, given that Indonesia currently has a demographic bonus, with a significant portion of the population in 2045 being of productive age, between 15 and 64 years old. Therefore, the growth and health of children today must be supported so that in 2045 they will become an excellent generation to lead the nation.

In addition to four new products related to the children's segment, two other products are therapeutic agents for tuberculosis and injectable antibiotics. "We are optimistic that these six products will be catalysts for Phapros' business growth in the future, along with the existing products," Ida added.

Regarding capital expenditures, Ida mentioned that for now, the size of the capital expenditures is not as large as in 2023 and will be focused on meeting the requirements according to the latest pharmaceutical industry regulations.

On the other hand, the Director of Finance, Risk Management, and Human Resources, Yudhi Rangkuti, said that Phapros projects double-digit profit growth. In 2023, the company posted a net profit of Rp5.96 billion. "We hope profit can grow double digits from the current condition, with improvement efforts primarily in sales, optimization of COGS (Cost of Goods Sold), and efficiency in operating expenses," he explained.

During this AGMS, Phapros also established the Company's Management Structure, which is now as follows:

Board of Commissioners:
- President Commissioner: Maxi Rein Rondonuwu
- Commissioner: Masrizal Achmad Syarief
- Independent Commissioner: Chrisma Aryani Albandjar
- Independent Commissioner: Bimo Wijayanto

Board of Directors:
- President Director: (vacant)
- Production Director: Ida Rahmi Kurniasih
- Finance, Risk Management, and HR Director: Yudhi Rangkuti
- Marketing Director: Maraja Jeson Siregar