Phapros setup drug factory in Myanmar

Phapros Tbk preparing for business expansion for the production and distribution base of products in Myanmar by 2020. Pharmaceutical and biotech companies based in Semarang announced it has set up new factories and established a distribution partnership product in Myanmar.

Phapros said it has prepared Rp100 billion (US$7 million) in the short term to start building a free drug and prescription drug production base in Myanmar. The company will also partner with local companies to build a product distribution network marketing system.

"Ultimate goal is to build a factory that produces pharmaceuticals and medical equipment. The value of the pharmaceutical industry of Myanmar is US$2.2 billion per year," Phapros President Director Emmy Barokah Sri Utami said on Wednesday.

Utami said at an early stage the plant will be built and is expected to be completed by 2020 to produce tablet drugs. In addition, pharmaceutical investment in Myanmar is not too complicated and the local government is keen to invite foreign investment.

"Pharmaceutical products in Myanmar are currently almost 70% imported and the industry has no more than 10 producers," Utami said.