PT Ferron Par Pharmaceuticals won the Primaniyarta Award 2019 in the Global Brand Developer category. The award was given by the Vice President of the Republic of Indonesia, H. M. Jusuf Kalla to Dexa Group Chairman, Ferry Soetikno at the opening ceremony of Trade Expo Indonesia, at ICE Bumi Serpong Damai Banten on Wednesday, October 16, 2019.
Primaniyarta Award is the greatest reward given by the Government of the Republic of Indonesia to the most successful Indonesian exporters and to them who can be the role model for the other Indonesian exporters. The granting of the Primaniyarta Award is an annual agenda of the Indonesian Government through the Directorate General of National Export Development of the Ministry of Trade of the Republic of Indonesia.
“I would like to highlight the potential and continuity of our trade and industrial capabilities to trading partners around the world. Indonesia has made progress in various fields in order to increase our trade capabilities and economy,” said Jusuf Kalla in his speech.
Ferron ranks 1st in the Global Brand Builder category at the Primaniyarta Award 2019, winning over four other companies qualified for the nominations after going through a series of judging processes.
Become a World Class Player
Ferron’s achievement in winning the Primaniyarta Award 2019 is supported by its perseverance and determination in penetrating the market with strict regulations, such as the UK, Netherlands, and Poland.
“Ferron became the first Indonesian pharmaceutical company to develop Metformin diabetes products with Sustained Release technology that have successfully penetrated the UK, Netherlands and Poland export markets,” said Dexa Group Chairman, Ferry Soetikno.
Some of the important key factors for entering the international market include price competitiveness, good quality production facilities, as well as product development competencies that comply with regulations and standards in the European region. Not only that, Ferron has a strong commitment to find sources of raw materials that meet quality requirements, complete supporting documents, registering intellectual property rights, and consistently building product development competencies in accordance with regulatory habitats supported by Research and Development infrastructure, and hire best human resources.
In March 2008, PT Ferron Par Pharmaceuticals received a satisfactory predicate from the audit of the Medicine and Healthcare Products Regulatory Agency (MHRA) as the agency authorized to deal with drug problems in the UK. This allowed the company to perform its first export to the UK on July 21, 2008.
The high demand for Metformin products for diabetics has made Ferron products favorable in the UK. Ferron is the number two pharmaceutical company in the country with a market share of around 25% for Metformin Sustained Release products. One of the drugs produced by Ferron, Metformin Sustained Release or known as Glucient SR is used in the National Health Care System to treat diabetes patients in the country whose prevalence reaches 6% of the total population.
In addition to the UK, Ferron’s Metformin Sustained Release product also managed to enter the Netherland market at the end of 2018 and Poland on July 2, 2019.