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Pharmaceutical convention CPhI targets over 5,000 visitors
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Drug prescription for treatment medication. Businesspeople and government officials have stated that they hope the raw material segment will further develop to cater to Indonesia’s more than 250-million-strong population. (Shutterstock/File)
T
he Convention on Pharmaceutical Ingredients Southeast Asia (CPhI SEA) 2017 hopes to see a 10 percent increase in the number of visitors to 5,200 during the event, which will take place in Jakarta from March 22 to 24.
The fourth CPhI SEA will also host an investment forum for the pharmaceutical sector for the first time, with around 50 investors invited.
“CPhI is a platform to gather various industrial players to build trust and explore potential markets, as well as exchange information and knowledge,” Ivan Ferrari, general manager of event organizer PT UBM Pameran Niaga Indonesia, said in a media briefing on Thursday.
(Read also: Indonesia to tackle unhealthy practices in health sector)
The value of Indonesia’s pharmaceutical market is expected to reach US$7 billion by 2025, from $5 billion today, according to Indonesia Pharmaceutical Materials Management Club and healthcare information and technology services company IMS Health.
At present, about 30 percent or $1.5 billion comes from the raw materials segment.
Businesspeople and government officials have stated that they hope the raw material segment will further develop to cater to Indonesia’s more than 250-million-strong population.
The National Board of the Indonesian Pharmaceutical Association (GPFI) claims that dependence on imported raw materials has worsened to 95 percent today from 80 percent in 2000 due to the lack of tariff barriers against imported ingredients, which were lifted in 1995 when Indonesia joined the World Trade Organization (WTO). (tas)
