Kalbe Farma Sets Up JV With Australia's Blackmores


NOVEMBER 19, 2015

Jakarta. Listed pharmaceutical firm Kalbe Farma is joining hands with Blackmores, a nutrition company from Australia, to start selling vitamins and premium supplements in Indonesia next year.

Kalbe announced on Thursday that the two companies have established a Jakarta-based joint venture with equal ownership.

In the first stage, the joint venture is slated to launch up to 23 new products in Indonesia, according to Irawati Setiady, president director of Kalbe Farma.

"We will still import from Blackmores Australia at first. Hopefully, this can contribute up to Rp 100 billion in the first year," Irawati said in Jakarta on Thursday.

The joint venture plans to build a factory -- for $8 million to $10 million -- in the Greater Jakarta region from 2016 in the next phase of cooperation. The factory is expected to start operations in 2018, she added.

Blackmores CEO Christine Holgate noted that she is upbeat on the Indonesian market, adding that the company is aiming for a 25 percent share of the country's market for herbal supplements.