Meiji Seika Pharma’s Indonesian unit aims to double sales by 2026
JAKARTA, NNA – PT. Meiji Indonesian Pharmaceutical Industries has set a new annual sales target of 2 trillion rupiah ($142 million) by 2026 as it opens a new head office in South Jakarta next month.
Sales at the subsidiary of Meiji Seika Pharma Co. of Japan had reached 1 trillion rupiah by 2016 and 1.3 trillion rupiah by 2018.
Masa Satoh, president director of the local firm, told news media on Monday that three of the company’s five production facilities had been operating at full capacity and that a new production line would open next year.
Since its inception 45 years ago, the company in Indonesia has been producing human and animal medicines, specifically penicillin. It exports to Japan, Malaysia and Singapore and plans to explore the markets in China and the United States.
Parent Meiji Seika Pharma posted group sales of 168.5 billion yen ($1.5 billion) in the year to March 2018.