Jakarta (ANTARA) - Coordinating Minister for Economic Affairs\nAirlangga Hartarto believes that a joint venture (JV) between the\nIndonesian and Chinese pharmaceutical industries can strengthen the\nself-reliance of the national drug industry, particularly in developing\nbiopharmaceutical products to meet public health needs.<\/p>\n
Airlangga made the remarks while attending the inauguration of PT\nTempo CTTQ Biopharmaceutical Indonesia (TCBI), a company formed through\ncooperation between PT Tempo Scan Pacific Tbk and Chia Tai Tianqing\nPharmaceutical Group Co., Ltd (CTTQ), a leading subsidiary of Chinese\npharmaceutical firm Sino Biopharmaceutical Limited (SBP Group), held in\nJakarta on Friday.<\/p>\n
\u201cThis cooperation is expected to drive bio-based products, especially\nfor diseases that are currently among the top killers, including heart\ndisease, diabetes, liver disease and others,\u201d said Airlangga.<\/p>\n
According to him, developing the biopharmaceutical industry through\nthis partnership is an important step towards increasing self-reliance\nin domestic drug production.<\/p>\n
He noted that Indonesia remains dependent on imported pharmaceutical\nproducts, particularly innovative medicines at relatively high\nprices.<\/p>\n
\u201cAnd the hope is that with biopharmaceuticals we gain additional\nself-reliance in medicines that have so far depended on imports,\u201d he\nsaid.<\/p>\n
Airlangga said drug production through domestic facilities is\nexpected to bring down prices, making medicines more affordable for the\npublic, including through the national health insurance system.<\/p>\n
\u201cThe medicines to be produced here include imported drugs that are\nrelatively expensive compared to other countries, including Malaysia. So\nby producing them locally, prices are expected to come down and become\naccessible through the BPJS insurance system,\u201d he said.<\/p>\n
SBP Group is a China-based pharmaceutical company focused on research\nand development (R&D), with capabilities spanning research,\nmanufacturing and the commercialisation of innovative drugs, biological\nproducts and quality branded medicines.<\/p>\n
Through the formation of TCBI, Tempo Scan and CTTQ will develop a\nspecialty pharmaceutical and innovative healthcare platform in\nIndonesia.<\/p>\n
The company targets the phased launch of several innovative products\nover the coming years, including products that have already obtained\napproval as well as those still in the registration process.<\/p>\n
Executive Chairman and Co-founder of Tempo Scan Group Handojo S\nMuljadi said the partnership is a strategic move to strengthen the\ncompany\u2019s biotechnology and specialty pharmaceutical business.<\/p>\n
\u201cThis joint venture is tangible proof that Indonesia is a long-term\ninvestment destination for foreign investors,\u201d said Handojo.<\/p>\n
The cooperation is also expected to strengthen the development of the\nnational pharmaceutical industry\u2019s capabilities, as well as reinforce\nIndonesia\u2019s healthcare ecosystem.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/airlangga-confident-ri-china-jv-will-boost-independence-of-pharmaceutical-industry-1784879704", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }