Airlangga Confident RI-China JV Will Boost Independence of Pharmaceutical Industry

Jakarta (ANTARA) - Coordinating Minister for Economic Affairs Airlangga Hartarto is confident that a joint venture (JV) between the Indonesian and Chinese pharmaceutical industries can bolster the nation’s independence in drug production, especially in developing bio-pharmaceutical products to meet public health needs. He made the remarks during the inauguration of PT Tempo CTTQ Biopharmaceutical Indonesia (TCBI), a joint venture between PT Tempo Scan Pacific Tbk and Chia Tai Tianqing Pharmaceutical Group Co., Ltd (CTTQ), a leading subsidiary of China’s Sino Biopharmaceutical Limited (SBP Group), held in Jakarta on Friday. “This collaboration is expected to promote bio products, particularly for diseases that are currently prevalent, such as heart disease, diabetes, liver disease, and others,” Airlangga said. He noted that developing the bio-pharmaceutical industry through this partnership is a crucial step towards increasing domestic drug production independence. Indonesia has so far been dependent on imported pharmaceutical products, especially innovative drugs that come with relatively high prices. “We hope that with bio-pharmaceuticals, we will have additional independence in the field of medicines that we have so far relied on imports for,” he stated. Airlangga added that producing drugs in domestic facilities is expected to suppress prices, making them more affordable for the public, including through the national health insurance system. “These drugs to be produced include imported ones that are relatively more expensive compared to those in other countries, including Malaysia. So, by producing them here, we hope the prices can be reduced and they can be accessed by the public or the BPJS insurance system,” he said. SBP Group is a research and development (R&D) based pharmaceutical company from China with capabilities spanning from research and manufacturing to the commercialisation of innovative drugs, biological products, and quality branded generics. Through the establishment of TCBI, Tempo Scan and CTTQ will develop a specialty pharmaceutical and innovative healthcare platform in Indonesia. The company is targeting the gradual launch of several innovative products in the coming years, including those that have already received approval and those still in the registration process. Executive Chairman and Co-founder of Tempo Scan Group Handojo S Muljadi said the collaboration is a strategic step to strengthen the company’s biotechnology and specialty pharmaceutical business. “This joint venture is clear evidence that Indonesia is a long-term investment destination for foreign investors,” Handojo said. The partnership is also expected to strengthen the development of the national pharmaceutical industry’s capabilities and reinforce Indonesia’s healthcare ecosystem.