PT. ETHICA Industri Farmasi and PT. SOHO Industri Pharmasi managed to book a stellar performance throughout 2010. In terms of business, PT. SOHO managed to score a total growth of 31%, while PT. Ethica successfully booked a growth of 29%. These growths were much higher than the average growth in pharmaceutical industry from ethical market which only stood at 12%. In addition to the superb growth, for the first time PT. SOHO set a new record
in terms of highest ever sales record. One of the products that showed a very successful performance was Panso which enabled PT SOHO to reap the success as the champion for new product launch for Ethical market as presented by IMS Health, an international market intelligence provider for pharmaceutical & healthcare industries. Panso sits in the first place for New Product Launch at Ethical Product Category based on IMS Health Combined Market Data MAT Q4 2010, proving its domination in its category.
The success of Panso placed PT. SOHO as the fastest growing company among other Top 35 companies nationwide in the hospital sector. The list of SOHO Global Health successes continue as the Group managed to sit on 5th place of all pharmaceutical companies in Indonesia based on IMS Health Combined Market Data MAT Q4 2010. Besides Panso, Low Price Medicine (LPM) managed to book a significant success too which contributed to the overall performance of SOHO Global Health PHARMA. Seeing the positive trend, we are confident that we are in the right track to reach the top list.
Our fast growth was also contributed by applying the Blue Ocean strategy in our division through the introduction of natural products such as Enercore, the Bio-Curcumin Group (BioCurkem, BioCurliv, BioCurlam) and Cinula, as an alternative and complementary medicine. These natural products are listed in Top 20 New Product Launches at OTC Product Category, based on IMS MAT Q4 2010.
In addition, we received an award from MURI for the most symposiums held in a single year. The symposiums were to continuously educate doctors about the advantages of natural medicine as an alternative and complimentary product for patients.
As for PT. ETHICA Industri Farmasi, the division experienced a handsome growth too last year, which was supported with the success of product like Caprol. The launching of Traditional Chinese Medicine (TCM) succesfully placed the company as the pioneer for TCM in prescription market. We have invested in TCM by sending our people to China to learn about TCM. In the future, we will improve TCM to make it better and better.
To enable further growth, we merged PT. ETHICA Industri Farmasi (Regular & LPM) and PT. SOHO Industri Pharmasi (Regular & Alliance) into one SOHO Global Health PHARMA. Both companies brought along their strengths and the combination of these two power resulted in what we call as strength-based synergy strategy that put us where we are now. To avoid internal conflict among our sales people, we applied multi brand strategy which forces the sales people to have discipline thinking to sell different products to different potential targets.
The restructuring in SOHO Global Health PHARMA also resulted in the establishment of The 7 Magnificent Teams, which are the Eagle Team, Pioneer Team, Tiger Team, Low Price Medicine Team, Ethica Regular Team, Medical Device Team and Alliance Team. These teams will be the driving force that will ensure the success of SOHO Global Health PHARMA in the future.
The restructuring that the company is taking surely created some challenges for us, especially in our forefront people. We realize that it is not easy to change the mind of our sales people in doing their job in a different manner than they used to. It will take some time but once we do it, we will grow even stronger ahead.