On July 27, China Biopharmaceutical (01177) announced that it had signed a joint venture agreement with Indonesian listed company PT Tempo Scan Pacific Tbk (Tempo Scan) to jointly establish a joint venture company PT TEMPO CTTQ BIOPHARMACEUTICAL INDONESIA (TCBI).
Sino Biopharmaceutical holds a 51% stake in TCBI, while Tempo Scan holds a 49% stake. The joint venture will combine Sino Biopharmaceutical's strengths in innovative R&D and product pipeline with Tempo Scan's localized capabilities in Indonesia, including manufacturing, regulatory registration, market access, sales and marketing, and distribution networks.
The announcement stated that both parties are currently advancing multiple specialty drugs and innovative drugs.The registration and listing process has been completed, with some products already approved and several others under review.
In addition to commercial cooperation, both parties will continue to explore further cooperation opportunities, including academic exchanges, local clinical development, production technology transfer, and future localized production. The establishment of the joint venture will facilitate the rapid introduction of innovative drugs to Indonesia, strengthen the supply of specialty medicines, and improve the accessibility of medications for Indonesian patients.

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