Teva-Handok names chief executive
pharmafile | April 17, 2013 | Appointment | Manufacturing and Production, Research and Development, Sales and Marketing | teva-handok
Teva-Handok has announced the appointment of Yoo Suk Hong as the first chief executive of the business venture between Teva and Handok Pharmaceuticals.
The venture was formed in February 2013 and focuses on the Korean pharma market, currently valued at approximately $14 billion.
“As we prepare to officially launch Teva-Handok, we are very pleased to welcome Yoo Suk Hong as our chief executive,” stated Professor Itzhak Krinsky, chairman of Teva Japan, South Korea and head of Business Development Asia-Pacific.
“With his deep international experience coupled with his keen understanding of the Korean market, Yoo Suk will help us realise our goal of bringing high-quality and affordable medicines to patients in Korea.”
Handok Pharmaceutical’s chairman and chief executive Young Jin Kim added: “Yoo Suk Hong has had a variety of work experiences in both Lilly’s headquarters and Korea with remarkable achievements. I believe with his competencies developed through global leadership, he will help establish Teva Handok as a leader in the Korean market.”
Yoo Suk Hong worked as a financial analyst at Lilly’s headquarters in the US starting in 1992, and returned to Korea in 1995, first in new product marketing and then as the head of marketing and sales.
In 2003, Hong was appointed as the global marketing manager of an osteoporosis medication at Lilly’s US headquarters. He was appointed as the chief executive of Lilly Korea in 2007 and then sent again to the headquarters in 2008 as the marketing strategy director of emerging markets covering areas such as Korea, China, India, Brazil and Russia.
Teva-Handok is expected to officially launch its first products in September this year.
