South Korean Conglomerate Purchased Shares in PT Pyridam Farma Tbk (PYFA)
Jakarta, 29 April 2021 – PT Aldiracita Sekuritas Indonesia has sold part of its ownership in PT Pyridam Farma Tbk (PYFA) to LG International Corp (LGI). LGI is part of the LG Group which is one of the largest conglomerates in South Korea headquartered in Seoul. Based on information from both of them which is supported by the share ownership report submitted to the OJK and the IDX on April 28, 2021.
This buying and selling transaction was carried out by LG International Corp through its subsidiary located in Indonesia, PT Global Investment Institution (GII) through the purchase of stock crossing in the negotiated market at a price of Rp. 1,200 per share on Wednesday (28/4). Through this transaction, GII will own 5.5% ownership in PYFA.
Director of PT Pyridam Farma (PYFA), Yenfrino Gunadi said,
We are very proud to partner with one of the largest South Korean conglomerates with a long history of innovation as we expand our product and service offerings, with the aim of advancing the healthcare industry in Indonesia. “
Being able to attract foreign investment and partnering with one of the largest conglomerates such as LG International Corp (LGI) is clear evidence not only for PT Pyridam Farma Tbk (PYFA) itself but also for the Indonesian health industry which is expected to grow double digits in the next few years “, added Yenfrino.
PT Pyridam Farma Tbk (PYFA) is a pharmaceutical company whose main business is the production and distribution of modern and traditional medicines as well as distribution of medical devices such as laboratory equipment and also including PCR test kits. The company was founded in 1976 and has been a public company and has been listed on the Indonesia Stock Exchange since 2001.
PT Pyridam Farma Tbk (PYFA) is targeting net sales to grow double digits this year. The company stated that the pharmaceutical industry and medical devices will still develop rapidly, because the Indonesian people are increasingly aware of maintaining health and strengthening their immunity.
One of the pharmaceutical products whose need is still high at this time includes multivitamins and supplements. Currently, PYFA has vitamin and supplement products. Even though it was affected by the Covid-19 pandemic in 2020, the performance of PT. Pyridam Farma Tbk recorded a net profit growth of 137% when compared to the previous year. The net sales of PT Pyridam Farma Tbk (PYFA) in 2020 also increased by 12% compared to 2019. The increase in sales was mainly driven by the growth of vitamin and supplement products added by the increase in sales of medical device products.
About PT Pyridam Farma Tbk.
PT Pyridam Farma Tbk is a pharmaceutical company whose main business is the production and/or distribution of modern and traditional medicines as well as the distribution of medical devices such as laboratory equipment as well as PCR test kits. The company was founded in 1976 and has been a public company and has been listed on the Indonesia Stock Exchange since 2001.
PT Pyridam Farma Tbk. manufactures a wide range of pharmaceutical products such as Antibiotics, Vitamins, Supplements, and Traditional Herbal Treatments. The company has more than 200 products in the form of tablets, caplets, capsules, cream syrups, and ointments. In addition, PT Pyridam Farma Tbk. also manufactures prescription products such as penicillin and non-penicillin antibiotics, and painkillers, as well as non-prescription products for vitamins, cold and cough suppressants, and antipyretics.
