INDONESIA PRESS-Sido Muncul plans to acquire pharmaceutical company - Bisnis Indonesia

Sun Jan 5, 2014 8:21pm EST

PT Sido Muncul, Indonesia's biggest herbal medicine producer, is considering acquiring a pharmaceutical company by the end of this year, said Chief Executive Irwan Hidayat,

Sido Muncul plans to spend at least 500 billion rupiah ($41.1 million) to finance the plan.

The company is targeting sales of 2.8 trillion rupiah this year and net profit of 450 billion rupiah.

* Note: Reuters has not verified this story and does not vouch for its accuracy. ($1 = 12,170 rupiah) (Compiled by Rin Hindryati; Editing by Anand Basu)