KLBF - PT. Kalbe Farma Tbk

Rp 2.060

+20 (+0,97%)

JAKARTA – PT Kalbe Farma Tbk (KLBF) stops the development of COVID GX-19 vaccine development, which has entered the 2b/3 clinical testing, due to the COVID-19 status change from a pandemic to an endemic in Indonesia. Sie Djohan, Director of Kalbe Farma, confirmed it in the press release quoted Thursday (17/3).

“The urgency of vaccine development is not significant. Moreover, vaccine supply in Indonesia has been sufficient. We are still innovating to develop DNA vaccine technology for non-COVID-19 related, such as oncology,” Djohan explained.

According to Djohan, the termination of the progress of GX-19 vaccine development will not affect its business performance. It is due to the fact that the contribution of the said vaccine business was not included in the target revenue this year. Furthermore, the cost expended by the company during the clinical testing were immaterial costs, thus not disrupting KLBF’s financial condition. (LK/ZH)