ASEAN firms under threat, says pharmaceutical boss

Published: 27-Sep-2001


Implementation of the ASEAN Free Trade Agreement (AFTA) next year will threaten the existence of local pharmaceutical firms, according to Joseph Ronald Kosasih, president of pharmaceutical distributor Millennium Pharmacon International, Indonesia.

He added that most local pharmaceutical companies would be unable to survive the stiffer competition following the implementation of AFTA.

In an interview, Kosasih said, 'At least 140 of the 180 local pharmaceutical companies did not have adequate networks to compete with their ASEAN competitors. This inability to compete will eventually lead to their closure. These local pharmaceutical firms will be struck by the influx of cheaper drugs from other ASEAN countries.'

The Indonesian Government currently allows the import of drugs and their raw materials only from countries in the Pharmaceutical Inspection Cooperation, including the US, Australia and European countries. ASEAN groups include Malaysia, Singapore, Cambodia, Brunei, Indonesia, Laos, Myanmar, the Philippines, Thailand and Vietnam. Under AFTA, pharmaceutical products within the region will be free from tariff and non-tariff barriers.

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