Pharmaceutical holding to be established in first half of 2019. The State-owned enterprises (SOE) Ministry is expecting to establish a pharmaceutical holding company in the first half of 2019, perhaps before the April 17 presidential and legislative elections.
SOE Ministry undersecretary for industrial, agricultural and pharmacy affairs Wahyu Kuncoro told reporters on Wednesday that the ministry had discussed the plan with all related ministries.
The government has already established a plantation holding company, an energy holding company and a mining holding company. The establishment of those holding companies was aimed at improving the efficiency of government businesses in the respective sectors.
“This means that [state-owned vaccine producer] PT Biofarma will lead the holding,” he said, adding that the other companies—PT Kimia Farma, PT Indofarma and publicly listed PT Phapros, which was recently acquired by Kimia Farma from PT Rajawali Nusantara Indonesia (RNI)–would become members of the holding.
He said Kimia Farma’s acquisition of Phapros was parallel to the formation of the holding as the ministry aimed at grouping all state-owned enterprises in holding companies based on the similarity of their business sectors.
Wahyu also revealed that RNI, which is a state-owned diversified manufacturing company, would lead an industrial estate holding company, whose members included state-owned industrial estate companies such as PT Kawasan Industri Medan in North Sumatra. Pharmaceutical holding to be established in first half of 2019 (bbn, Riska Rahman, The Jakarta Post)