This diabetes medication needs to be taken only once a day. Curious? It is an innovation from Ferron, an Indonesian pharmaceutical company that developed this alternative to standard diabetes drugs, which typically require three doses daily.
Pharmaceutical companies have long innovated to offer new medicines, helping to treat various diseases and alleviate patient suffering. However, as innovations progress, new diseases continue to emerge; consequently, members of the International Pharmaceutical Manufacturers Group (IPMG) remain committed to discovering new treatments for these conditions.
Yet, the pharmaceutical industry's development remains dependent on raw materials, 95% of which are imported from China and India. A 40% rise in raw material costs cannot simply be passed on to the final price of medicines, as the industry is bound by government contracts for the supply of drugs under the national health insurance scheme (BPJS).
To boost the industry's growth, future government investment in pharmaceutical raw materials will focus on research-based sectors, prioritizing materials that are rarely produced globally or those for "first generic" drugs. "Investment need not come solely from Indonesia; the government has opened the raw material sector 100% to foreign investment," stated Maura Linda Sitanggang, Director General of Pharmaceutical and Medical Device Services at the Ministry of Health.
The government is also preparing incentives, such as tax cuts for companies that invest in research. Furthermore, measures are being taken to streamline the licensing process for industrial investments—a procedure that previously required complex coordination across multiple ministries and agencies.
Pharmaceutical Industry Performance
In the second quarter of 2018, the pharmaceutical industry grew by 5.71%. The Ministry of Industry is optimistic that the sector could achieve growth of 7% to 10% in 2019.
A key driver of this growth is increased investment and positive performance figures, bolstered by the National Health Insurance (JKN) program. The JKN program continues to attract investor capital due to the potential for rising demand. IPMG revealed that the pharmaceutical industry is projected to experience xxxxxxx in 2019 compared to 2018.
- http://www.kemenperin.go.id/artikel/19241/Industri-Farmasi-Masih-Cerah
- IPMG Website
- 20190121/12/880781/gp-farmasi-harga-obat-paten-berpeluang-naik-20-tahun-ini
- https://e-katalog.lkpp.go.id/page/konten_dinamis/view/219?km=blog_roll
- https://ekbis.sindonews.com/read/1285599/34/dorong-investasi-pemerintah-beri-insentif-ke-industri-farmasi-1519732685
- https://m.bisnis.com/infografik/read/20190108/547/876431/menanti-geliat-industri-farmasi
