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Chong Kun Dang’s Indonesian unit signs $32-million export deal with Algerian state firm

Chong Kun Dang said its Indonesian joint venture CKD OTTO signed an export agreement worth $32 million with Saidal, the largest state-run pharmaceutical company in Algeria.

Under the accord, CKD OTTO will ship anticancer injections produced at its Indonesian plant to Algeria for the next five years until 2026. After signing the contract with Chong Kun Dang, Saidal completed receiving approval for the product in Algeria.

The exported anticancer drugs will be immediately supplied to local hospitals through bidding.

“CKD OTTO’s anticancer drug plant is the first halal-certified anticancer drug plant in Indonesia,” CKD OTTO CEO Baik In-hyun said. “Starting with Algeria, we plan to advance to other Islam markets with the combined population of 2 billion.”

CKD OTTO was established in September 2015 as a joint venture between Chong Kun Dang and OTTO, an Indonesian pharmaceutical company.

In 2019, the joint-venture company built an anticancer drug plant of 12,588 square meters and obtained GMP approval from the Indonesian government. The factory also won the halal certification from Majelis Ulama Indonesia, the highest Islamic organization in the Southeast Asian country.

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