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Kalbe Farma Seeks Acquisitions, Partnerships, Vidjongtius Says

Oct. 28 (Bloomberg) -- PT Kalbe Farma, Southeast Asia’s largest drugmaker, is in talks with more than 20 Indonesian and regional companies for possible acquisitions or distribution partnerships, Chief Financial Officer Vidjongtius said.

“It’s always a good time” for acquisitions, Vidjongtius said in an interview in Kuala Lumpur today. “We are dealing with the consumer-health business. This sector, in every country, is performing well. It’s just a matter of finding a good target.”

Kalbe, which makes prescription drugs and nutrition supplements, is focusing on expanding its distribution network across Indonesia, which has the biggest growth potential for the company, Vidjongtius said. The archipelagic nation of 237 million people has Southeast Asia’s biggest population.

Indonesia’s currency is stabilizing and the company doesn’t expect any impact on earnings, he said, adding that fluctuations of as much as 6 percent is acceptable, and only changes of 10 percent or more would have a negative effect. The rupiah rose 0.3 percent to 8,837 as of 3:35 p.m. Jakarta time today.

Kalbe introduced 25 new products to September, reaching its target, and will bring one or two more to market this year, Vidjongtius said.

Kalbe gained 0.72 percent to 3,500 rupiah as of 3:40 p.m. on the Indonesian Stock Exchange.

To contact the reporter on this story: Gan Yen Kuan in Kuala Lumpur at ykgan@bloomberg.net

To contact the editor responsible for this story: Greg Ahlstrand at gahlstrand@bloomberg.net

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