A private pharmaceutical company, PT Kalbe Farma Tbk (IDX: KLBF) needs an investment up to Rp1 trillion to produces COVID-19 vaccines around 50 million doses - Photo by the Company

JAKARTA (TheInsiderStories) – A private pharmaceutical company, PT Kalbe Farma Tbk (IDX: KLBF) needs an investment up to Rp1 trillion (US$68.02 million) to produces COVID-19 vaccines around 50 million doses, said the management. The issuer collaborated with Genexine Inc., a biologic drug producer from South Korea, has form PT Kalbe Genexine Biologic (KGBio) to develope and making raw materials for biotechnology drugs in Indonesia.

Beside, the company also set up a consortium with other South Korea institutions like Binex, International Vaccine Institute, Genbio, the Korea Advanced Institute of Science & Technology, and Pohang University of Science & Technology. The vaccine candidate being developed was named GX-19.

President Director of Kalbe Farma, Vidjongtius, revealed KGBio will conduct phase 2 clinical trials for the vaccine in the fourth quarter of this year after being declared successful in the phase 1 clinical trial in South Korea. He emphasized that the vaccine production will be ready to circulate commercially as early as mid-2021.

“Phase 1 is expected to be completed in September to November 2020. Next, phase 2 will be held which of course will also be carried out in Indonesia,” he stated.

In this year, said Vidjongtius prepared a capital expenditure of Rp1 trillion and had realized Rp600 billion until the first semester of 2020. The 2020′ investments is used to complete two factories in Cikarang, West Java, used for over-the-counter drugs.

During the six-month of this year, Kalbe Farma reported a net sales grow 3.8 percent compared to 2019 to Rp11.60 trillion. While, the net profit increased by 10.3 percent to Rp1.38 trillion as of June 30, 2020.

As reported, President Joko Widodo expect the production of COVID-19 vaccines

President Joko Widodo targeting Indonesia could produces COVID-19 vaccines on the firs semester of 2021. The state-owned drug maker, PT Biofarma joined with Chinese’ Sinovac and other stakeholders now in the process to creates the new medicines and has been tested for third time.

“For three months we developed our own vaccine with brand Merah Putih. Its estimated that this can be completed in mid-2021 by various parties and open themselves to collaborating with SINOVAC, Uni Arab Emirates, South Korea and others to be able to vaccinate all Indonesian people,” he told reporters during his official visit to West Java province on Tuesday (08/11).

On July 21, a total of 2,400 vaccines from Sinovac have arrived at Bio Farma. According to the CEO, Honesti Basyir, the clinical trial of the vaccine is scheduled to run for six months, so it is targeted to be completed in January 2021.

“If the clinical trial of the vaccine phase three goes well, then Bio Farma will produce it in the first quarter of 2021,” he told reporters, by adding the company,have prepared production facilities at Bio Farma with the maximum production capacity is 250 million doses.

Basyir explained, the vaccines that came on last July, still require several more stages and must be passed include testing Biofarma‘ laboratory and several other licenses. This vaccine clinical trial will take as many as 1,620 subjects with an age range between 18 and 59 years and certain criteria.

He said, the reason for choosing Sinovac as a partner caused  the vaccine manufacturing method used same with the company’ current competences. With this inactivation method, the pharmacy firm already has experience in making vaccines such as the Pertussis vaccine.

The remainder of the vaccine will be used for laboratory tests in several laboratories including Bio Farma and the National Food and Drug Testing Center. In the clinical trial of the vaccine, Bio Farma acted as a sponsor, collaborating with various parties, including the Indonesian Health Research and Development Agency of the ministry of health, as medical advisor and implementing neutralization antibody titer tests.

Beside, the producer also collaborates with National Agency of Drug and Food Control as the regulator and of course with the Padjajaran University as an institution that has experience in implementing clinical trials of vaccines circulating in Indonesia.

The development of the vaccine is one of five scenarios for Bio Farma, 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: Rp14,700

Written by Editorial Staff, Email: theinsiderstories@gmail.com