Indonesia promotes development of pharmaceutical sector
The Indonesian government has set up a pharmaceutical holding company responsible for providing feedstock for the local pharmaceutical sector, helping reduce the nation’s dependency on imports of medical raw materials from 90 percent to 75 percent.
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 a pharmaceutical holding company responsible for providing feedstock for the local pharmaceutical sector, helping reduce the nation’s dependency on imports of medical raw materials from 90 percent to 75 percent.
The enterprise, a joint state-owned company comprising PT Bio Farma, PT Kimia Farma and PT Indofarma, has total assets of 30.6 trillion IDR (2.18 billion USD).
CEO of PT Bio Farma Honesti Basyir said at a recent press conference that after consolidation, the company has more capacity to improve the business efficiency of its member firms.
High dependency on imported materials has increased drug prices in the country, he added.
Meanwhile, Managing Director of Kimia Farma Verdi Budidarmo stressed that Indonesia needs a huge amount of raw materials and advanced technologies to develop the pharmaceutical industry.
Indonesia, home to over 250 million people, has favourable investment conditions and a huge market for the industry, he stated.
Director-general for pharmaceuticals and medical equipment at the health ministry Maura Linda Sitanggang affirmed the government encourages collaboration among academics, businesses and state managers to enhance production of raw materials with a view to reducing imports by 5 percent per year.
Development of the pharmaceutical sector is among 15 programmes prioritised by the government to stimulate inclusive and sustainable economic growth, as well as improve the competitive capacity of Southeast Asia’s largest economy./.
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