JAKARTA, May 9 (NNN-ANTARA) – Indonesia’s state-owned pharmaceutical holding company, Bio Farma Group, posted a net profit of 380 billion rupiah (about 23 million U.S. dollars), in the first quarter of this year, the company announced, yesterday.
During a hearing with the House of Representatives in Jakarta, Shadiq Akasya, president director of the company, attributed the recovery in part to rising demand for COVID-19 vaccines, following Saudi Arabia’s policy requiring vaccinations for Hajj pilgrims.
Shadiq expressed optimism that a similar policy could be extended to Umrah pilgrims, whose annual numbers reach 1.8 million, far exceeding the 240,000 Hajj pilgrims each year.
The profit marked a positive turnaround for the company, after facing post-pandemic challenges, including consecutive losses in 2023 and 2024, due to inventory impairments and other pandemic-related impacts.– NNN-ANTARA
