China Biopharmaceutical and Tempo Scan Form Indonesia JV, China Holds 51% Stake

China Biopharmaceutical has signed a joint venture agreement with Tempo Scan, which is listed on the Indonesia Stock Exchange, to jointly establish PT Tempo CTTQ Biopharmaceutical Indonesia (TCBI). Under the agreement, China Biopharmaceutical holds a 51% equity stake in TCBI, while Tempo Scan holds 49%.

TCBI will deeply integrate Tempo Scan's local market experience in Indonesia with China Biopharmaceutical's strengths in innovative research and product pipelines. The joint venture will focus on drug registration, clinical development, medical affairs, market access, and the commercialization of a full range of pharmaceutical products. It will also assess the feasibility of local production in Indonesia at an appropriate time. Currently, several products have received approval from local regulatory authorities or are in the registration review stage. TCBI is actively preparing for operations, and the first batch of specialty drugs will be launched to the market after obtaining regulatory approval and completing all operational preparations.