This research aims to find out how strategic management of debt management and turnaround asset at pharmaceutical companies in Indonesia, whether with debt management and an effective asset turnover can directly affect the growth of the company both directly and indirectly through Return on Assets. Research data from pharmaceutical company started in 2011 to 2015, test hypothesis using Path Analysis.. The result of the research shows that debt and turnaround of influential positive and significant assets against the Return on Asset, debt, and assets turnover Return on assets are positive and significant effect against the growth of the company.