IPMG participated in “Healthy Market Workshop” held by the Ministry of Health and Tony Blair Institute (TBI) (31/07). The workshop focused on building a healthy market for life sciences innovation in Indonesia. The workshop supported the Ministry of Health to develop a deeper understanding of the nature of life sciences investment and what is needed to support engagement and partnerships in Indonesia. The insights gathered from the workshop were said to shape the government’s policy decisions in creating incentives for investment in the Indonesian life sciences market. The workshop was divided into two panel discussions: (1) Guaranteeing a healthy market for strategic innovative products moderated by Mr. Roy Himawan, S. Farm., MKM., Apt, Director of Resilience of the Pharmaceutical and Medical Devices Industry at the Ministry of Health; (2) Developing partnerships and research programs for new products in Indonesia moderated by Ms. Nora Siagian, President Director of PT Pfizer Indonesia.
Speaking on behalf of IPMG together with General Manager of Takeda Indonesia Andreas Gutknecht, President Director of Menarini Asia-Pacific Idham Hamzah began their proposal by mapping out the leading opportunities and challenges within the Indonesian pharmaceutical market that can elevate patient care and reach the great potential of Indonesia. Situations that are worth noting as enablers include solid growth of the economy, the growing population, and having a tech savvy society. On another note, Indonesia healthcare spend is significantly lower compared to its peers, high medical outbound tourism and market hurdles and limitations where only nine percent of pharma innovation are present.
In response to the aforementioned situations, IPMG elaborated its suggestions to increase the patients’ access to innovation & Foreign Direct Investment to strengthen Indonesia’s healthcare. IPMG suggested that the government should grow the healthcare market, obtain (innovative drug availability) sustainability through fair prices, and maintain a reliable public procurement to increase market attractiveness.
Another suggestion from IPMG is to remove market hurdles by considering the significance of promoting partnerships, managing uncertainties for innovative medicines, maintaining and promoting key policy advancements.
Concluding IPMG's recommendation, Mr. Gutknecht and Mr. Hamzah underlined the importance of recognizing the value of innovation which goes beyond the price of a product and other healthcare costs but the quality of the health outcome in return.
When asked by a participant about the definition of a healthy market, Mr. Hamzah and Mr. Gutknecht had quite a similar view. Mr. Gutknecht said that a healthy market creates a healthy industry ecosystem. A market that has more diverse players, innovation availability, and more patient benefits, resulting in a sustainable market situation, while Mr. Hamzah further elaborated that a healthy market means patients are provided with more medicine choices that are accessible by every patient.
“There are significant potentials in Indonesia, IPMG is committed to reach Indonesia’s great potential and drive healthcare resilience through partnership, enhancing access to innovation and economic growth. There is hopeful momentum with reforms but careful implementation and continued progress are critical,” said Mr. Gutknecht concluded the presentation.
