A pharmaceutical holding company responsible for providing feedstock for the pharmaceutical sector has just been set up in Indonesia. (Photo: gbgindonesia.com)Jakarta (VNA) – The Indonesian government has set up apharmaceutical holding company responsible for providing feedstock for the localpharmaceutical sector, helping reduce the nation’s dependency on imports ofmedical raw materials from 90 percent to 75 percent.
The enterprise, a joint state-owned company comprisingPT Bio Farma, PT Kimia Farma and PT Indofarma, has total assets of 30.6trillion IDR (2.18 billion USD).
CEO of PT Bio Farma Honesti Basyir said at a recent press conference that afterconsolidation, the company has more capacity to improve the business efficiencyof its member firms.
High dependency on imported materials has increased drug prices in the country,he added.
Meanwhile, Managing Director of Kimia Farma VerdiBudidarmo stressed that Indonesia needs a huge amount of raw materials andadvanced technologies to develop the pharmaceutical industry.
Indonesia, home to over 250 million people, has favourable investment conditionsand a huge market for the industry, he stated.
Director-general for pharmaceuticals and medicalequipment at the health ministry Maura Linda Sitanggang affirmed the governmentencourages collaboration among academics, businesses and state managers toenhance production of raw materials with a view to reducing imports by 5percent per year.
Development of the pharmaceutical sector is among 15 programmes prioritised bythe government to stimulate inclusive and sustainable economic growth, as wellas improve the competitive capacity of Southeast Asia’s largest economy./.
VNA
