Teva-Handok has appointed Yoo Suk Hong as the first Chief Executive of the business venture established between Teva Pharmaceutical Industries and Handok Pharmaceuticals.
The organisation was formed in February and focuses on the Korean pharmaceutical market, which is currently valued at approximately US$14bn. It will officially launch its first products in September.
Hong previously worked as a financial analyst at Eli Lilly’s headquarters in the US, starting in 1992. He returned to Korea in 1995 initially in new product marketing and then as Head of Marketing and Sales. In 2003, he was appointed as Global Marketing Manager of an osteoporosis medication at Lilly’s US headquarters. He became CEO of Lilly Korea in 2007 and then returned to the headquarters in 2008 as Marketing Strategy Director of emerging markets covering areas such as Korea, China, India, Brazil and Russia.