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Indonesia's Kalbe signs deal for COVID and cancer drug candidate

Licensing pact with South Korea's Genexine said to be worth $1.1bn

A medical worker prepares a COVID-19 ward at a hospital in Jakarta.   © Reuters

JAKARTA -- Indonesia's largest pharmaceuticals manufacturer, Kalbe Farma, has struck a deal with South Korea's Genexine to develop and commercialize a drug candidate for both COVID-19 and cancer treatments.

Kalbe Farma said its licensing agreement with the biotechnology group was worth $1.1 billion, including costs for clinical trials, registration and commercialization as well as royalty payments that will be made in stages to Genexine.

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