The contract size is worth more than KRW 20.0 billion, a figure symbolizing the unrivalled position of Kalbe Farma in the Indonesian market. Based on this contract, CGBIO is seeking to gain further foothold for successful entry into the Southeast Asian market.
Bone graft materials under contract include Bongros and Bongener, CGBIO’s leading products in Korea. They are composed of essential inorganic substance and growth factor to heal a damaged bone.
In a signing ceremony held in Jakarta on February 15, 2019, Dr. Michael Bujung Nugroho, Kalbe Group CEO and Woong Yeol Yang, Manager of Daewoong Pharma’s Indonesian Business Unit had a mutual discussion about a 5-year plan and strategy of Kalbe Farma in the Indonesia market.
With more than 17,000 employees, Kalbe Farma is the largest healthcare provider in Sotheast Asia as well as in Indonesia, commanding annual sales of KRW 1.7 trillion in ethicals and medical devices. In addition, Kalbe Farma owns pharmaceuticals and medical devices in orthopedics and holds the highest position in the industry.
Kalbe Farma expects successful strategic alliances with CGBIO in that CGBIO is a leading manufacturer and distributor of comprehensive portfolio of tissue regenerative products through innovative fusion research of growth factors, biomaterials, and ceramics.
“Under this agreement, we look forward to conducting successful business in Indonesia with infinite potential,” said CGBIO CEO Hyun Seung Yu. “We plan to launch other products with evidence of clinical efficacy in the future so that they can contribute to better quality of life and medical development in Indonesia.”
“We will actively carry out local community training programs voluntarily after discussion with Daewoong Pharma, aside from a simple manufacturer,” Yu added.
Actually, CGBIO plans to implement volunteering work for local communities such as burn patients in Medan of Indonesia in September, while building a global network program to train local doctors in Korea from March. In addition, CGBIO will endeavour to enhance local medical technologies through better training programs.
