Kimia Farma

The story of Kimia Farma begins not with a startup, but with a nation's ambition. Its roots trace back to 1817 with a Dutch colonial-era company, NV Chemicalien Handle Rathkamp & Co. Following Indonesia's independence, a wave of nationalism led to the government nationalizing Dutch-owned pharmaceutical firms in 1957. A year later, in 1958, these separate entities were merged into a single state-owned pharmaceutical company, PNF Bhinneka Kimia Farma. A pivotal moment arrived on August 16, 1971, when the company was incorporated as a limited liability state-owned enterprise, officially becoming PT Kimia Farma (Persero). This solidified its structure and set the stage for its future growth as a cornerstone of Indonesia's healthcare landscape. For decades, it operated as a state-run entity, focused on serving the nation's pharmaceutical needs. The next major shift came in the wake of the Asian financial crisis. To alleviate national debt, the Indonesian government began privatizing state firms. On July 4, 2001, Kimia Farma became a public company, listing on the Jakarta and Surabaya Stock Exchanges. This IPO marked a new chapter, opening the company to public investment while the government retained a majority stake. In 2020, its ownership was transferred to the state-owned pharmaceutical holding company, Bio Farma, as part of a larger consolidation of the nation's health sector.