Jakarta, July 29, 2024. PT Enseval Putera Megatrading Tbk ("Enseval"), through its subsidiary PT Global Chemindo Megatrading ("GCM"), and Lian SGP Holding Pte. Ltd. ("Lian SGP"), a wholly-owned subsidiary of Livzon Pharmaceutical Group Inc. China ("Livzon Group"), announced the establishment of a strategic joint venture company to produce drug raw materials or active pharmaceutical ingredients (API) with an initial investment of IDR 650 billion. The joint venture company, named PT Livzon Pharma Indonesia, will focus on producing active pharmaceutical ingredients (API) and other pharmaceutical raw materials for the export market, including its potential in the domestic market.

Stanley Handiono Angkasa, President Director of GCM, said, "We welcome the collaboration with Livzon Group, a major drug raw material producer in China, as a significant milestone in enhancing our competence in producing active pharmaceutical ingredients (API). This is also part of the company's response to the Indonesian Government's initiative to strengthen domestic active pharmaceutical ingredient production. In the long term, building an API factory domestically will contribute to reducing import dependence and strengthening Indonesia's healthcare resilience".

Stanley also stated that active pharmaceutical ingredients (API) play a crucial role in the pharmaceutical industry, besides advancing the Indonesian pharmaceutical industry, increasing export contributions, and ultimately enabling technology transfer and building research and development capabilities in Indonesia.

Tang Yanggang, CEO of Livzon Group, stated, "This joint venture marks a significant step in Livzon's strategy to expand our footprint in Southeast Asia. By combining our technological expertise with GCM's market knowledge, we are confident in our ability to provide high-quality pharmaceutical products that will benefit the healthcare sector in Indonesia and its surroundings".