New drug pipeline and R&D competitiveness reinforcement through differentiated open innovation
[의학신문·일간보사=김영주 기자]The core of Handok’s 2021 management strategy is to establish a sustainable business environment by digitalizing all sectors in the post-corona era. Handok is determined to open an era of 500 billion won in sales by complying with the demands of the times and taking the crisis as an opportunity.
“In the new year, the pace and shape of accepting change and evolving must change. Handok is determined to make all-round efforts to gain competitiveness and leap forward after Corona 19.”
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Handok Owner and CEO Kim Young-jin (Photo) Said, “It will be a year in which the gap in competitiveness between companies widens according to how companies quickly accept the new normal (a standard that is emerging as a result of the change of the times) and make it a new opportunity in the post-corona era, which was met without sufficient preparation. “He said, emphasizing.
Chairman Kim added, “If you pick a keyword for Handok this year, it is a digital transformation (DT) that will definitely produce results,” he added. “We need to increase the use of digital in all areas such as marketing and sales as well as production, clinical, education, and team building.” .
Another important point to prepare for the post-corona era is to focus on strengthening competitiveness and increasing sustainability as uncertainties in the business environment are increasing. Handok was selected as an excellent company in the healthcare and bio sector at the end of last year at the 1st ESG Awards held by the Environment Foundation, Deloitte Anjin, and Sustainable Power Plant, the first environmental foundation in Korea. In addition, in the ESG evaluation conducted by Sustainable Power Plants targeting 799 domestic listed companies in 2020,’Handok’ ranked first.
“2021 is an important year for Handok to exceed 500 billion won in sales. We plan to ensure that the whole of Korea and Germany can grow through even growth in each business division.”
Handok surpassed 300 billion won in sales last year in double-digit growth in the prescription drug business. Diabetes treatments surpassed KRW 600 billion in 2018 and KRW 700 billion in 2019, and achieved KRW 75 billion in sales even in the corona 19 situation last year. In particular, Tenelia ranked fourth in the DPP-4 treatment market in the second half of last year. Handok plans to surpass 80 billion won in sales in the diabetes business with Tenelia, which is growing steeply based on the experience of diabetes masters this year, Amaril, which has achieved sales of more than 30 billion won despite fierce competition, and Suglet, which has been added recently.
Handok is also strengthening its competitiveness with differentiated products and marketing in the field of rare diseases, and achieved 75 billion won in sales in 2020. Through solid partnerships with global companies in the field of rare diseases such as Alexion, Actelion, Jazz, and Amicus, the company introduced innovative treatments for rare diseases in Korea. This year, we plan to successfully launch Ultomiris following Soliris, continuing our efforts for a better life for PNH patients.
The general drug business division suffered from Corona 19, but achieved 59.8 billion won in sales in 2020. In particular, major products such as Ketotop, Festal, and Cleartin increased their market share and strengthened their No. 1 position. Ketotop recorded 7.3% growth, continuously increasing its market share. Handok aims to surpass 60 billion won in sales in the general medicine business in the new year and grow significantly compared to the previous year. Ketotop is planning to expand the distribution of products that have increased the number of products and reduced product packaging to contribute to the environment as part of the recent socially important ESG.
In addition, the MD&LS (Medical Device & Life Science) business unit achieved sales of 79.4 billion won last year, and in 2021, active cooperation with Siemens Healthy Senior’s automation system, which focuses on diagnostic testing medicine, as well as affiliates such as Arkray, Burker, and Qiagen. It plans to continue to grow with various items through the company.
“Handok is strengthening its new drug pipeline and R&D competitiveness through differentiated open innovation. The Magok R&D Institute, which will be completed this year, will play an important role in further expanding Handok’s open innovation strategy and strengthening research cooperation with Genexine.”
Chairman Kim Young-jin said, “HANDok selected’Open Innovation’ as its future strategy from 2006, when even the concept was unfamiliar in Korea, and with 14 years of experience, it has secured differentiated competitiveness in target fields and collaboration methods.”
Handok’s open innovation can be summarized as win-win, innovation, and global. Handok is looking for a flexible way to’win-win’ with partners rather than a uniform model for open innovation. To this end, cooperation models such as R&D spin off, technology transfer, joint research, direct investment, and indirect investment through funds are used.
Looking at the current status of open innovation, which is currently underway, Genexine and’sustainable growth hormone’, which is being developed, are preparing to apply for phase 3 clinical trials. In addition, the’Pan-TRK’ inhibitory anticancer drug under development with CMG Pharmaceuticals and the National Anticancer Drug Development Project is undergoing phase 1 clinical trials. The anti-cancer antibody ABL001, an anti-angiogenic anti-cancer antibody under development in the ABL Bio Department, will lead a phase 2 clinical trial for patients with biliary tract cancer by Handok starting this year.
In addition, Handok is accelerating the development of new drugs by using the AI drug development platform. In January, it signed an AI-based drug development contract with Deargen, an AI drug development company. With Deargen’s self-developed and advanced artificial intelligence (AI) drug development platform, it quickly discovers candidates with a high probability of success and accelerates the development of new drugs. Handok plans to actively use AI in the development of new drugs for various diseases, starting with anticancer drugs.
Meanwhile, 2021 is a very important year for Korea-German open innovation. The Magok R&D Research Center, which is being built jointly with Genexine, will be completed in December. The Magok R&D Institute will play an important role in expanding Handok’s open innovation strategy and strengthening research cooperation with Genexine. It is also expected to become the center of research and development for the development of new drugs with global competitiveness and expansion of the pipeline.
Handok Chairman Kim Young-jin is regarded as a manager who values communication with employees. He recently shared an e-book-style rice cake soup recipe with his employees. They appear on YouTube channels operated by the company and send e-mails directly to employees. He said, “It is difficult to gather with Corona 19, but we will try harder than before to communicate with our employees.”