GC Biopharma wins contract to build blood products plant in Indonesia

GC Biopharma Corp., a South Korean pharmaceutical company, announced on Thursday that it has received approval from the Indonesian Ministry of Health for the construction and technology transfer of a blood products plant.

The Indonesian government has been undertaking the selection process for business rights in order to produce blood products domestically, reducing dependency on imports.

GC Biopharma was selected as the preferred negotiator in January and has since gone through detailed discussions and coordination before officially winning the approval. The specific contract size and details will be disclosed after the contract is finalized.

"This achievement is significant as it reflects the collaboration between our government and private enterprises, resulting in the successful bid for the business rights from a foreign government in the biopharmaceutical industry," said a company official.

GC Biopharma has been producing various blood products since the 1970s, starting with albumin. It has exported blood product plants to Thailand and has experience building factories in countries such as China and Canada.

Write to Ji-Hyun Lee at bluesky@hankyung.com