Fresenius Kabi sets up JV for IV generics in Indonesia
Germany-based Fresenius Kabi, part of the Fresenius Group (FRE: Xetra) has formed a joint venture with PT Soho Global Health, a leading Indonesian pharmaceutical company, acquiring a 51% stake in its PT Ethica Industri Farmasi (EIP) subsidiary.
This joint venture will focus on intravenous generic drugs and infusion solutions, and make Fresenius Kabi the market leader in IV generics in Indonesia, the German firm claims. The parties agreed not to disclose the purchase price. Closing of the transaction is expected in the third quarter of 2013.
Founded in 1946, EIP was the first manufacturer of injectable drugs in Indonesia. The company has a broad product portfolio and extensive experience and expertise in the production and marketing of generic drugs in the Indonesian market. EIP operates a production plant in Jakarta. The product portfolio of the future joint venture generated sales of more than 40 million euros ($53.3 million) last year.
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