State-owned pharmaceutical company PT Kimia Farma (KAEF) Tbk was one of the best performing stocks last year. It is also one of the best so far this year with over 32% gain. Indofarma (INAF), another state-owned pharmaceutical company, has also gained almost 200% since October 2011. Proposed merger of Kimia Farma and Indofarma contributed to the gains.

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