Operating a local manufacturing facility allows Invida to hold product licenses in Indonesia on behalf of its partners. This removes the needs for foreign companies to establish their own production sites, providing an alternative way of entering the Indonesia market.
Expanding operations into Indonesia “strongly improves our chance to secure new business” by opening up a new market, John Graham, CEO of Invida, told in-PharmaTechnologist.
Graham added that Indonesia is a “vast untapped market” where growth is being driven by the region’s“burgeoning economic landscape, rising affluence and increased healthcare demand”.
Companies looking to enter this market can now use Invida to procure product licenses and obtain regulatory approvals. Invida is also offering manufacturing, sales and marketing services.
“With the acquisition of MUGI, Invida also further cements its role as a single point of entry for those companies looking for a strategic partner to access Asia Pacific markets”, commented Graham in a press statement.
To gain these capabilities Invida has acquired a 70 per cent stake in Indonesia-based MUGI. Financial details of the deal have not been disclosed.
MUGI operates a production facility in Indonesia where it manufactures dermatological, liquid and oral solid-dose formulations. Invida has stated the site will “undergo a major upgrade” to make it compliant with current good manufacturing practices (cGMP).
This will allow MUGI to offer manufacturing services for a wide range of products, either for local use or export. Invida believes providing manufacturing services for both local and foreign companies could be a significant long-term opportunity for the company and its partners.