Dr. Boenjamin Setiawan

Founder, Kalbe Farma

 

Dr. Boenjamin Setiawan transformed a small company operating out of a garage into Indonesia’s pharmaceutical giant, Kalbe Farma

More popularly called Dr Boen, Boenjamin Setiawan was a salaried worker before founding a Kalbe Farma out of a garage in 1966 with his brothers. In the coming years, he was able to grow the family’s fortune, until the Asian Financial Crisis of 1997 forced him to recalibrate.

Setiawan sold off some assets and borrowed from banks in order to strengthen his core business, while also diversifying into property and logistics. By 2012, Setiawan’s now-robust finances allowed the acquisition of health-drink brand, Hale International, as well as a joint venture with Milko Beverage, to produce health drinks such as Sakatonik, Fatigon and Extra Joss.

The Setiawan family fortune is currently valued at more than US$4 billion, a sum that includes stakes in publicly traded hospital Mitra Keluarga, which operates 25 hospitals. In 2014, Setiawan was honoured with the Economic Challenges Lifetime Achievement Award, as recognition of his contributions to Indonesia’s health industry.

Impacted Industries


Awards


2014

Economic Challenges Lifetime Achievement Award

Did You Know?


Dr Setiawan worked as a lecturer first before realising the vast financial opportunities in pharmaceutical enterprise.