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LG International Corp (LGI) Signs Cooperation Agreement With PT Pyridam Farma Tbk (PYFA)

LG International Corp (LGI) Signs Cooperation Agreement With PT Pyridam Farma Tbk (PYFA)

LG International Corp (LGI) Signs Cooperation Agreement With PT Pyridam Farma Tbk (PYFA)

Jakarta, 29 April 2021 – LG International Corp (LGI), part of the LG Group – one of the largest South Korean conglomerates headquartered in Seoul has signed a cooperation agreement with PT Pyridam Farma Tbk (PYFA). As part of the agreement, the two parties agree to cooperate on a number of health care-related business opportunities involving pharmaceutical products (including innovators or biosimilar products), health supplements, health care equipment and consumer products, and other health care related opportunities.

Picture: The procession of signing the Cooperation Agreement (28/4) between LG International Corp (LGI) and PT Pyridam Farma Tbk (PYFA) by Mr. Choi Min (Head of Indonesia’s New Growth Driving Division), Yenfrino Gunadi (Director of PT Pyridam Farma Tbk – PYFA), dr. Widjanarko Brotosaputro (Director of PT Pyridam Farma Tbk – PYFA), Mr. CH Lee (President Director of LG International Indonesia) and Mr. Hun Kim (Head of Management Division Indonesia).

PT Pyridam Farma (PYFA) Director, 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 healthcare industry which is expected to grow double digits in the next few years. ” Add Yenfrino.

As previously reported, PT Pyridam Farma Tbk expanded its business by opening a representative office in Korea earlier this year, as part of the Company’s strategy to explore opportunities for cooperation with international pharmaceutical companies to advance the pharmaceutical industry in Indonesia.

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.