JAKARTA. PT Kalbe Farma Tbk (KLBF) will collaborate with Genexine Inc. a South Korean company that specializes in researching and developing biopharmaceutical products. KLBF targets to market its biopharmaceutical products by 2022.
The two companies have also established a joint venture company named PT Kalbe Genexine Biologics (KGBio) in Indonesia.
Based on the agreement signed on 12 October 2015, KLBF has a 60% stake in KGBio, while Genexine Inc. has 40%. However, now KLBF is the only shareholder of the company.
Finance Director and Corporate Secretary of KLBF, Bernandus Karmin Winata said that the commercial release is likely to begin in the next 2-3 years. At present, the products are still in the clinical training stage and cannot be marketed yet.
"The products will be marketed to ASEAN, the Middle East, Taiwan, and Australia," he explained at a press conference at the Indonesia Stock Exchange (IDX) on Tuesday (20/8).
Bernandus said that collaboration with Genexine was carried out to develop biological products using living cells. (AM/AR)