How about collaboration?

Ministry of Health of Indonesia said at a Seoul conference yesterday, "tax cuts and other benefits for local producers"

Daewoong, Chong Kun Dang, successfully collaborated with Indonesia Pharmaceuticals

Largest pharmaceutical company PT Kalbe Pharma

4th largest population in the world, the advantage of clinical performance.

 

Indonesia is emerging as a new market for the Korean pharmaceutical bio industry.

 

In addition to the potential of being the world's fourth-largest population, the pharmaceutical market seems to be expanding rapidly as national income has recently increased overall.

 

In line with this trend, the Indonesian government is strengthening benefits for locally produced drugs.

 

Analysts say that for Korean pharmaceutical bio companies seeking to enter Indonesia, establishing local subsidiaries or collaborating with Indonesian companies will be an effective strategy rather than directly exporting.

 

◆ Indonesian government emphasizes local production On the 12th, "Global Bio & Pharma Plaza 2022" was held at Lotte Hotel World in Songpa-gu, Seoul, hosted by the Ministry of Trade, Industry and Energy.

 

Dr.

 

Banun attended the "Pharmaceutical Overseas Advancement Strategy Briefing" held together on the same day at the Indonesian Ministry of Health to explain the recent changes in Indonesia's policy to foster the pharmaceutical industry.

 

According to him, the Indonesian Ministry of Health has been planning to foster the pharmaceutical and medical device industries with a 10-year long-term plan since 2016.

 

The key is to encourage the production of medicines, raw materials for medicines, and medical devices in Indonesia.

 

Tinkat Komponen Dalam Negeri (TKDN) was specified, and for raw material drugs, the proportion of domestic production was increased to 65%.

 

Through this, the Indonesian government's goal is to reduce the high dependence on imports of raw materials and drugs.

 

Dr.

 

Banun said, "By 2024, we will make efforts to develop the pharmaceutical industry at the national level." He said, "In particular, we are focusing on the domestic manufacturing and production of medicines.

 

"We will spare no financial support for the domestic production of major drugs," he explained.

 

"Whether it's raw material or finished product, it's giving a lot of benefits to companies that produce medicines in Indonesia," he said.

 

He said, "We are attracting overseas pharmaceutical companies by establishing free economic zones along with special tax cuts.

 

"If Korean pharmaceutical companies collaborate with Indonesia, we expect good results," he stressed.

 

◆"Daewoong and Chong Kun Dang's cooperation with local companies, best practices for entering Indonesia" Dr.

 

Banun cited Daewoong Pharmaceutical and Chong Kun Dang's entry into Indonesia as an exemplary example.

 

Among Korean pharmaceutical companies, Daewoong Pharmaceutical entered Indonesia in 2012 and Chong Kun Dang in 2015 through joint ventures with local companies.

 

Daewoong Pharmaceutical completed the construction of a pharmaceutical plant in Surabaya in cooperation with local pharmaceutical company Infion.

 

This factory is certified halal for medicine.

 

Currently, it ranks first in the anemia treatment (EPO) market in Indonesia.

 

Chong Kun Dang entered the local market through a joint venture with another local pharmaceutical company, OTTO.

 

In 2018, it completed the first halal-certified anticancer drug plant in Indonesia.

 

Dr.

 

Banun emphasized the "halal certification" received by the two pharmaceutical companies.

 

Halal certification is essential in addition to its own GMP certification to enter Indonesia, he explained.

 

"Daewoong Pharmaceutical and Chong Kun Dang have successfully established themselves as halal-certified pharmaceutical companies," Dr.

 

Banun said.

 

"It is a successful case of cooperation between Korean and Indonesian companies." Dr.

 

Banun said, "In Indonesia, Halal certification is required.

 

If there is a Korean company entering Indonesia, (the Ministry of Health of Indonesia) will help with quick certification, he said.

 

"If we get halal certification here, it will be easy to enter the Middle East or other Southeast Asian countries that need the same certification." ◆ Interested in cooperation with Korean pharmaceutical companies in drug and health product development" In the case of Genexine, a joint venture named Kalbe and KGBIO is being established and developing immuno-cancer drugs GX-17 and new anemia drug GX-E4.

 

"In the case of Indonesia, it has the advantage of conducting clinical trials as the world's fourth-largest population," said the CEO.

 

"In recent years, interest in health products has also been heating up." "We are interested in developing cooperative relationships with Korean pharmaceutical companies that have excellent health products," he said.