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Yoo Suk Hong, previous Lilly Korea CEO, recruited as first CEO of
Teva-Handok
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Teva-Handok is scheduled to officially launch in September
JERUSALEM & SEOUL, South Korea--(BUSINESS WIRE)--Apr. 8, 2013--
Teva-Handok today announced the appointment of Yoo Suk Hong as the first
Chief Executive Officer of the business venture established between Teva
Pharmaceutical Industries Ltd. (NYSE: TEVA) and Handok Pharmaceuticals
(KRX: 002390). This business venture was formed in February, 2013 and
focuses on the Korean pharmaceutical market, currently valued at
approximately USD 14 billion.
“As we prepare to officially launch Teva-Handok, we are very pleased to
welcome Yoo Suk Hong as our CEO,” stated Prof. Itzhak Krinsky, Chairman
of Teva Japan, Chairman of Teva 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 realize our goal of bringing high-quality and affordable
medicines to patients in Korea.”
Handok Pharmaceutical’s Chairman and CEO Young Jin Kim stated, “CEO Yoo
Suk Hong has had a variety of work experiences in both Lilly headquarter
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.”
Teva-Handok is expected to officially launch its first products in
September 2013.
About Yoo Suk Hong
CEO Yoo Suk Hong graduated from Hankuk University of Foreign Studies and
received an MBA from the Wharton School of Business, University of
Pennsylvania. He worked as a financial analyst at Eli 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, Mr. Hong was appointed as the global marketing manager
of an osteoporosis medication at Lilly’s US headquarters. He was
appointed as the CEO 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.
About Teva-Handok
This business venture brings together Teva’s manufacturing expertise and
portfolio of generic and innovative medicines and Handok’s sales and
marketing, distribution, and regulatory affairs capabilities.
About Teva
Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) is a leading global
pharmaceutical company, committed to increasing access to high-quality
healthcare by developing, producing and marketing affordable generic
drugs as well as innovative and specialty pharmaceuticals and active
pharmaceutical ingredients. Headquartered in Israel, Teva is the world's
leading generic drug maker, with a global product portfolio of more than
1,000 molecules and a direct presence in about 60 countries. Teva's
branded businesses focus on CNS, oncology, pain, respiratory and women's
health therapeutic areas as well as biologics. Teva currently employs
approximately 46,000 people around the world and reached $20.3 billion
in net revenues in 2012.
About HANDOK Pharmaceuticals
HANDOK, a leading innovation-driven pharmaceutical/healthcare company in
Korea, develops, manufactures and distributes healthcare solutions to
improve health and quality of life for all. Handok has a core business
focus in diabetes, cardiovascular, oncology, human vaccines, medical
devices, diagnostics and consumer health. Handok, founded in 1954, has
grown as a joint venture with Hoechst/Aventis/Sanofi and has established
strategic collaborations in several areas with multiple multinational
pharmaceutical companies. For more information, please visit http://www.handok.co.kr
Source: Teva Pharmaceutical Industries Ltd.
Teva Pharmaceutical Industries:
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Kevin.mannix@tevapharm.com
OR
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Frank, 215-591-8908
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