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The Industry Ministry projected investment values for the chemical, pharmaceutical, and textile industries (IKFT) would reach Rp130 trillion in 2019.
In a bid to cut operational costs,the state-owned pharmaceutical company has trimmed down its number of managers from 38 people to just 18.
It will take at least four years before the market value will increase as the industry will require time to construct new factories.
With US$1.4 million profit from the sales of herbal products, Indonesia as the world's third largest producer of the commodity.
Kalbe Farma decides to cancel the 3.9 billion treasury shares, equivalent to 7.7 percent of the company's paid-up capital.
People attending a pharmaceutical industry expo
Bayer, a German multinational company, recorded an 8.6 percent increase from its pharmaceutical division in 2016.
PT Bio Farma targets to complete the typhoid conjugate vaccine which will be compatible for children under two years old in 2019.
Jakarta International Expo Kemayoran will hold Southeast Asia`s Convention on Pharmaceutical Ingredients of 2017 on March 22-24.
Singapore has stated its interest to invest in the pharmacy industry worth US$15 million.
The factory is built based on a joint-effort between Kalbe and a South Korean pharmaceutical company Genexine Inc.