Padangekspres.net-Pharmaceutical firm PT Indofarma said Thursday it posted Rp 1.101 trillion (US$ 122 million) in sales last year, a 2.2 percent drop from Rp 1.125 trillion in 2009.
Indofarma president director P Sudibyo said the decline was due to a lack of competitiveness in generic medicine.
“Generic medicine prices have never increased, instead they tend to decrease,” he said as quoted by kontan.co.id.
He said that the situation did not benefit Indofarma, which is known as the largest generic medicine producer in the country.
However, the company’s profit rose to Rp 13 billion last year from Rp 2 billion a year earlier thanks to lower tax payments.