PT Bio Farma, the state-owned pharmaceutical firm, prepared a capital expenditure around Rp2.5 trillion (US$179 million) in this year - Photo by the Company

JAKARTA (TheInsiderStories) – PT Bio Farma, the state-owned pharmaceutical firm, prepared a capital expenditure around Rp2.5 trillion (US$178.57 million) in this year, the CEO said last week. Most of these funds will be use to make the drug-maker become a regional vaccine hub center in the Southeast Asia.

The CEO, Honesti Basyir, said that the funds came from the government’ capital injection for the health sector with total amount Rp2 trillion, where the portion for the manufacturer worth of Rp1 trillion. The other funds come from bank loans and internal cash.

He asserted, in this year, Bio Farma needs Rp1 trillion to boost its capacity production, vaccine technology, and to become regional hub of the vaccines. Currently, the capacity production of the firm more than 3 billion doses per year. Then, there are an investment in the digital system to make the pharmacy company’ have an end-to-end processes of production.

The parent of state-run pharmacy firms is also targeting to be able to obtain an emergency use authorization (UEA) for Sinovac’ CoronaVac vaccine from the Food and Drug Supervisory Agency in the third week of January. If this permit has been issued, the national vaccination program can started immediately, he adds. The clinical trial for the third phase of the vaccine is still ongoing.

Basyir said, the agency will uses the results of phase 1 to 2 of the clinical trials conducted in China as well as phase 3 clinical trials conducted in Brazil. On Dec. 8, the vaccine made by Sinovac arrived in Indonesia and the government began to prepare a schedule for the immunization.

At least 1.2 million doses are ready to be injected for emergency use and there will be senders of further vaccines both ready and in the form of raw materials. Beside China, the company has signed a 100 million doses of COVID-19 vaccine purchase deals with British’ AstraZeneca and American-based Novavax.

Bio Farma is the parent company of three pharmaceutical issuers on the Indonesia Stock Exchange (IDX), namely PT Kimia Farma Tbk (IDX: KAEF), PT Indofarma Tbk (IDX: INAF), and PT Phapros Tbk (IDX: PEHA). Together with its unit, the drug-maker has collaborated with various global pharmacy firms to produces the vaccines.

The development of the vaccine is one of five scenarios for the manufacturer, in dealing with the spread of the SARS COV2 virus, including production of realtime polymerase chain reaction, convalescent plasma therapy, mobile BSL 3 laboratories, and manufacturing viral transport media.

US$1: Rp14,000

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