Five major local drugmakers celebrated the first working day of 2019 on Wednesday, with key goals for new drug development and sales growth. Following are their crucial management strategies for growth in 2019.

Daewoong focuses on ‘responsible management’

Daewoong Pharmaceutical said it would carry out “responsible management” this year to enhance customer value, accelerate development of globally innovative medicines, to renew its business through open collaborations, and to nurture employees through learning and communication.
In addition to its botulinum toxin Nabota, Daewoong has several innovative pipelines including prolyl-tRNA synthetase (PRS) anti-fibrotic agent, dual-target autoimmune disease treatment, acid pump antagonist (APA) anti-ulcer drug, and dry eye treatment. The company also plans to utilize artificial intelligence (AI) to conduct research for new drugs.
“Within the first half, we will be able to sell Nabota in major advanced nations. We will enhance R&D for new drugs and use AI for research. Through open collaborations, we will reinforce our R&D competitiveness,” CEO Jeon Seung-ho said.

Dong-A Socio Group emphasizes autonomy

Dong-A Socio Group, comprised of Dong-A Socio Holdings, Dong-A ST, and Dong-A Pharmaceutical, said autonomy would be the keyword for 2019.
“Autonomous work can bring growth to the company and society. You should deeply ponder upon what you need to do to do better, how to work to make profits, and put them into practice,” CEO Han Jong-hyun said.
He went on to say that all the employees should fulfill their responsibilities with a sense of duty to the health of people. Han urged workers to think about what each of them could do to protect people and the earth together.

Boryung to seek new biz opportunities

In 2019, Boryung Pharmaceutical decided to strengthen its profit-centered management, find future growth engines, and secure global manufacturing competitiveness.
The company will put a focus on securing talents and expanding business portfolio, along with the acceleration of new drug development and a possible merger and acquisition with a prospective company.
Boryung is preparing to enter a phase-1 trial on immunotherapy BR2002 in Korea and the U.S., simultaneously, this year. Its subsidiary Boryung Vigencell is also to conduct a phase-2 study on immunotherapy in patients with lymphoma and to enter a trial on the second pipeline, myeloid leukemia treatment.
“Unpredictable politics, economic conditions, and changes in the pharmaceutical industry system demand new changes for us. We need a strong challenging spirit to get through this era,” CEO Ahn Jae-hyun said. “Through ‘virtuous-cycle’ and speedy management, we will not only achieve this year's goal but make another leap.”

Ildong to put customer value first

Ildong Pharmaceutical Group’s management goal this year is “innovation and growth in customer value.”
To achieve the goal, the company announced three management policies: quality first, implementation as planned, and better management efficiency.
“The newly announced visions are a promise to our customers, so we must practice them with a strong sense of responsibility,” Chairman Lee Jung-chi said. "In addition to achieving our management goals, we must focus on more precise forecasting and execution to realize the new vision. Based on this, we must make many visible achievements in 2019."

Il-yang seeks sales growth, global competitiveness

Il-yang Pharmaceutical said it would strive to expand revenue and enhance global competitiveness this year.

“We are in a severe competition at home and abroad. Let’s change our management policies to develop more excellent and solid products, increase sales, and reinforce global competitiveness this year,” CEO Kim Dong-yeon said.
“It is becoming more important whether how well the company performed, along with how fair the profitmaking was,” he noted. “Along with the significance of earnings and sales, let Il-yang’s way of fair and solid business answer the nation’s call to develop new drugs so that we can enter the global market and expand a market share.”