Phapros recorded 8.9% growth for its ethical products in the first quarter of 2023.

JAKARTA, April 28th, 2023 - PT Phapros Tbk, which is part of the State-Owned Pharmaceutical Holding, continues to target its performance this year in order to maintain growth. Some of the business lines that have been optimized this year are the sales of branded prescription drugs (ethical products) and exports. This is in line with the company's plan to rearrange its product portfolio, where in the future, the issuer with the stock code PEHA will have more branded prescription drugs than generic drugs.

Phapros CEO, Hadi Kardoko, stated that the growth of Phapros' branded prescription drugs (ethical products) in the first quarter of 2023 increased by 8.9% compared to the previous year. "The biggest contribution came from the Dextamine product, which grew by more than 60% compared to the same period last year, and Pehacain Injection grew by more than 37%," he said.

Hadi hopes that by the end of 2023, the company's performance will continue to grow, in line with the launch of 8-10 new products from several therapeutic classes, especially in the ethical pillar. "Growth in the ethical pillar is one of our strategies so that by the end of 2023, Phapros' new product portfolio will consist of more than 60% branded products and the rest generic products."

The growth of Phapros' OGB products also recorded an increase in the first quarter. The realization reached a cumulative figure of IDR 123.9 billion or grew by 7.2% compared to 2022.

"Tablet Tambah Darah and Omeprazole are contributors to this growth," said Hadi. In addition to the Ethical and OGB pillars, revenue contributions from the export line also increased by 45 percent. "The export market is still quite wide open for products such as multivitamins, antibiotics, antianalgesics, motion sickness products, antiallergics, and antituberculosis. This does not include other therapeutic drug products and health equipment that Phapros produces in collaboration with research partners from universities. We are optimistic about increasing net sales growth by the end of 2023 because there are still many other countries that will be targeted by Phapros," explained Hadi.

Previously, at the end of 2022, Phapros recorded net sales of Rp 1.16 trillion, up by 11.13 percent compared to 2021, and recorded a net profit of more than Rp 27 billion, up by more than 153 percent. Although the company's performance in Q1/2023 experienced a slight correction, the PEHA management remains optimistic that the year-end target will be achieved.

"To continue improving performance until the end of the year, the company has prepared several strategies including commercial excellence, operational excellence, organizational excellence, as well as digitization and increasing the competency of human resources. By implementing these strategies, we hope that Phapros' growth will remain sustained," concluded Hadi.