JAKARTA. PT Kalbe Farma Tbk (KLBF) is estimated to only get a share of the sale of the COVID-19 vaccine from its collaboration with Genexine, a pharmaceutical company from South Korea.
"Although there is no official explanation yet, we believe the role of KLBF in the collaboration is limited to 'clinical trials' and not within the scope of pharmaceutical expertise," explained Lakshmi Rowter and Adrian Joezer, analysts at Mandiri Sekuritas, in their research report.
Although the company will not get a patent, KLBF is the only company in Indonesia that focuses on developing vaccines for COVID-19.
In addition, the company, which is 42.98% owned by a public investor, has also collaborated with the Ministry of Health, for clinical trials. Meanwhile, companies other than Kalbe Farma are limited to developing herbal medicines for COVID-19.
Rowter and Joezer explain the mass production of vaccines for COVID-19 million requires quite a long time. KLBF itself will begin the first phase of the COVID-19 vaccine trial in June 2020. The clinical trial process is estimated to take about 6 to 24 months.
"KLBF management also did not give an idea of how long the clinical trial will be. "The investment spent and the revenue target from developing the COVID-19 vaccine have also not been announced yet," Rowter and Joezer explained. (KR/AR)