Kimia Farma

History

In 1957, Dutch East Indies-owned pharmaceutical firms were nationalized by the Government of Indonesia. Nationalized firms included N. V. Pharmaceutische Handelsvereeniging J. van Gorkom & Co., (Jakarta), N. V. Chemicaliënhandel Rathkamp & Co., (Jakarta), N. V. Bandoengsche Kininefabriek, (Bandung), N. V. Jodium Onderneming Watoedakon (Mojokerto) and N. V. Verbandstoffenfabriek (Surakarta).

Following Government Regulation no. 69 in 1968 the resulting firms were named State Pharmaceutical Companies (PNF) named PNF Radja Farma (Jakarta), PNF Conscience Farma (Jakarta), PNF Nakula Farma (Jakarta), PNF Bio Farma, State Enterprise (PN) Bhineka Kina Farma (Bandung), PN Sari Husada (Yogyakarta) and PN Pharmaceuticals and medical devices Kasa Husada (Surabaya).

On 23 January 1969, based on PP. 3 In 1969 the companies merged into PNF Bhineka Kimia Farma. On 16 August 1971, the State Pharmaceutical companies transition Kimia Farma's legal form into State Owned status as a Limited Liability Company, becoming PT. Kimia Farma (Persero).

In 1998, the Asian economic crisis resulted in the state budget experiencing growing national debt. To reduce the burden of debt, the government began privatizating state-owned firms. Based on the Letter of Minister of State for Investment and Development, S-59/M-PM.BUMN/2000 dated 7 March 2000, PT. Kimia Farma privatized.

The directors of PT. Kimia Farma (Limited) established two subsidiaries on the 4 January 2002, PT. Pharmacy and PT Kimia Farma. Kimia Farma Trading and Distribution. On 4 July 2002 PT. Kimia Farma Tbk. officially listed on the Jakarta Stock Exchange (JSX) and the Surabaya Stock Exchange (BES) as a public company and changed its name to PT. Kimia Farma (Persero), Tbk.