Dong-A Socio Group pushes international cooperation in pharmaceutical industry
Envisioning Asia making a global impact in the pharmaceutical industry, Dong-A Socio Group welcomes partnerships with the region's pharmaceutical companies for the development of groundbreaking new drugs.
Envisioning Asia making a global impact in the pharmaceutical industry, Dong-A Socio Group welcomes partnerships with the region's pharmaceutical companies for the development of groundbreaking new drugs.
"The pharmaceutical sector is very competitive. Without cooperation, Asian companies face a challenge competing globally," says Lee Dong-hoon, executive vice-president and CEO. "We should all be open to different collaborative opportunities and leverage the Asian market together."
Dong-A Socio Group has built strong relationships with pharmaceutical companies across the world, especially those from Europe, Japan and Indonesia.
The company believes further collaboration with more pharmaceutical players will result in greater breakthroughs in the international health sector.
Established in 1932, Dong-A Socio Group operates three main companies plus subsidiaries in medicine, beverages, logistics, information technology and machinery. Among the main companies is Dong-A Socio Holdings, which oversees the group's operations and implements its growth strategies. Under Dong-A Socio Holdings, Dong-A Pharmaceuticals and Dong-A ST manage the over-the-counter (OTC) consumer products and prescription drugs segments, respectively.
Dong-A Pharmaceuticals carries a wide selection of products, including mouthwash, feminine hygiene products and cold medicine. Among the many best-selling products of Dong-A Pharmaceuticals is Bacchus, a taurine-fortified energy-boosting drink. Since launching in 1963, Bacchus has grown into South Korea's No 1 energy drink, becoming an iconic homegrown brand. Dong-A Socio Group's lucrative sales from Bacchus over the years have helped the company fund its extensive R&D activities. The company's reported sales from Bacchus amounted to HK$1.3 billion in 2013.
"Many years ago, people in labour-intensive industries fought fatigue with Bacchus. It is a symbolic product in the market because it revitalises tired workers," Lee says. Bacchus is well received in Dong-A Socio Group's export markets, particularly Cambodia. With a market share of 44 per cent, the company sells more than 100 million Bacchus cans in Cambodia.
Dong-A ST is also among the main companies under the group. It has a well-balanced portfolio of prescription drugs covering various therapeutic areas, from oncology to anti-infectives, and gastrointestinal and cardiovascular medicines.
The latest among Dong-A ST's breakthroughs is the development of the anti-bacterial drug tedizolid phosphate. Dong-A ST worked with Trius Therapeutics - which was acquired by Cubist Pharmaceuticals in 2013 - in further developing the drug and in obtaining the approval of the US Food and Drug Administration (FDA). The drug received FDA approval in June last year. Cubist Pharmaceuticals holds the global marketing and distribution licence of Sivextro, the brand name of tedizolid phosphate. As part of the pharmaceutical conglomerate Merck, Cubist will have greater global market reach for Sivextro.
To support the continuous discovery and development of drugs, Dong-A Socio Holdings, together with long-term partner Meiji Seika Pharma, established a biosimilar research and manufacturing complex in the Songdo district of the Incheon Free Economic Zone.
Banking on the strengths of the combined portfolio of Dong-A Pharmaceuticals and Dong-A ST, Dong-A Socio Group is bullish in growing its export activities. The year 2014 marked Dong-A Socio Group's more aggressive foray into the global market.
Specifically, Dong-A Socio's Chinese subsidiary, Suzhou Dong-A, is driving the company's growing business on the mainland. Aside from producing and distributing Bacchus in China, Suzhou Dong-A trades consumer and OTC products from South Korea.
Through Suzhou Dong-A, the group aims to facilitate the registration and launch of Dong-A ST's tuberculosis drug cycloserine and terizidone, and the erectile dysfunction drug Zydena (Udenafil) in the next five years.
Aiming to increase its footprint on the mainland, Suzhou Dong-A seeks partnerships with companies interested in helping raise health care standards.
The company is also open to international partnerships with educational institutions and pharmaceutical companies to create a bigger impact in the health care industry, in turn achieving its goal of producing the best medicine to treat human diseases.
"We are looking for marketing and production partners in Asia. Our approach to the European market is to form R&D synergies and foster relationships with European companies to help our entry there," Lee says.
http://en.donga.co.kr/