Sino Biopharmaceutical Limited (SBP Group, 1177.HK) and PT Tempo Scan Pacific Tbk (Tempo Scan) have jointly announced the formal signing of a joint venture agreement to establish PT TEMPO CTTQ BIOPHARMACEUTICAL INDONESIA (TCBI) in Indonesia. According to the agreement, SBP Group will hold a 51% stake in TCBI, and Tempo Scan will hold a 49% stake. 

On July 24, the signing ceremony for the "TCBI" joint venture between SBP Group and Tempo Scan was held at Tempo Tower in Jakarta, Indonesia. Airlangga Hartarto, Coordinating Minister for Economic Affairs of the Republic of Indonesia; Taruna Ikra, Head of the National Agency of Drug and Food Control; Lucia Rizka Andalusia, Director General of Pharmaceuticals and Medical Devices of the Ministry of Health; and Wang Lutong, Ambassador of the People's Republic of China to the Republic of Indonesia, attended the ceremony. 

Following its establishment, TCBI will fully integrate the strengths of SBP Group in innovative drug R&D, product pipeline, and international operations with Tempo Scan's local capabilities in manufacturing, regulatory affairs, market access, sales and marketing, and nationwide distribution in Indonesia. It will focus on advancing the registration, clinical development, medical affairs, market access, and commercialization of innovative and specialty drugs in Indonesia, and evaluate opportunities for future local production in Indonesia where appropriate. 

Currently, several products proposed for advancement by TCBI have already received approval from local regulatory authorities or are in the registration review stage. After obtaining the necessary regulatory approvals and completing relevant operational preparations, TCBI will gradually initiate the marketing and commercial operations of the relevant products. 

With a population of over 278 million, Indonesia is one of the largest pharmaceutical markets in Southeast Asia. With the continuous expansion of local healthcare coverage, the increasing life expectancy of its population, and the growing demand for innovative therapies, the Indonesian pharmaceutical market has strong long-term growth potential. Collaborating with a trusted local partner is a key initiative for SBP Group to deepen its market presence in Southeast Asia and accelerate the overseas commercialization of its innovative products. 

This collaboration reflects the shared vision of SBP Group and Tempo Scan to increase patient access to innovative therapies and support the long-term development of the Indonesian pharmaceutical industry. In addition to the commercial collaboration, the two parties will also continue to explore broader cooperation opportunities in areas such as scientific exchange, local clinical development, production technology transfer, and potential local manufacturing. 

Yang Zhenchang

Head of International Business, SBP Group

The establishment of TCBI is an important milestone in SBP Group's strategy to advance its international development. We are very pleased to partner with Tempo Scan, a long-established local pharmaceutical company in Indonesia. By combining SBP Group's innovative drug pipeline and R&D capabilities with Tempo Scan's deep local expertise and commercial network, we will jointly accelerate the introduction and adoption of innovative therapies in the local market, making a positive contribution to Indonesia's healthcare ecosystem. 

About Tempo Scan

Founded in 1953, Tempo Scan was listed on the Indonesia Stock Exchange in 1994. The company has over 70 years of experience in the manufacturing, marketing, distribution, and commercialization of pharmaceuticals, health products, dairy-based nutritionals (including infant formula), and personal care and hygiene products. Tempo Scan and its subsidiaries operate 16 manufacturing plants and have a sales, marketing, and distribution network covering all of Indonesia. Its distribution and logistics infrastructure includes distribution centers, branches and warehouses, sales offices, points of sale, and e-commerce logistics service centers, demonstrating strong local market experience and nationwide channel coverage.