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PHARMACY - JAKARTA. Daewoong Pharmaceutical has obtained permission to establish a stem cell processing laboratory in Indonesia. This is an important step for the company in the development of the regenerative medicine business.
As is known, stem cells are one of the key components in the developing field of regenerative medicine. With this permission, Daewoong Pharmaceutical can expand its penetration and activities in the rapidly growing health industry in Indonesia.
"With the permission for the stem cell processing laboratory, Daewoong Pharmaceutical is ready to collaborate with the Indonesian pharmaceutical and biotechnology industry in developing Indonesia as a global bio hub," said a representative of Daewoong Pharmaceutical in an official statement received by KONTAN, Friday (15/2).
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It is estimated that the pharmaceutical market in Indonesia will reach a figure of 18 trillion won in 2026, up from 13 trillion won in 2022. This growth is driven by factors such as population growth and rapid aging, which also contribute to the increase in the number of incurable diseases such as cancer and degenerative brain diseases.
Daewoong Pharmaceutical, a Korean pharmaceutical company, has a well-organized strategy to take advantage of opportunities in Indonesia. Through its subsidiary, Daewoong Biologics Indonesia, the company is building cooperation with local hospitals and clinics to enhance research in the treatment of incurable diseases.
The plan is for the company to enter the regenerative medicine, cell therapy, and biomaterial aesthetics market by producing and processing stem cells for use in hospitals and clinics. This step is supported by the acquisition of the Lab Operational License (LOL) from the Indonesian Ministry of Health.
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With this license, Daewoong Pharmaceutical can conduct research and production of stem cells in Indonesia. Stem cells, which have the ability to differentiate into various types of cells and replicate themselves, are considered very important in regenerating damaged human tissues or organs.
Daewoong Pharmaceutical has had a strong presence in Indonesia before. In 2012, the company built its first biopharmaceutical plant in Indonesia, strengthening local pharmaceutical and biotechnology businesses and contributing to the development of the biopharmaceutical industry through technology transfer.
Daewoong Pharmaceutical management has expressed its commitment to leading the growth of the pharmaceutical and biotechnology industry in Indonesia. They will not only focus on bio-regenerative medicine, but also on research, development, and commercialization of treatments for incurable diseases.
