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Presenting a plan for growth
SONGDO, South Korea—In early February at an event at its new branch office in South Korea, Vetter’s senior management representatives presented the company’s service portfolio along with its growth strategy for South Korea and the Asia Pacific (APAC) region. In addition, attendees were introduced to Michael Yi, who will manage the office in his role as business development manager for Ravensburg, Germany-based Vetter Pharma International’s South Korea operations. According to Vetter, Yi has “pharmaceutical experience in responsible business development roles” at several companies, and he will report to Chervee Ho in her role as director of key account management in APAC.
A rapidly growing local economy, combined with a regulatory environment conducive to the industry, is a strong incentive for doing business in the country, according to Vetter, and because the population is aging rapidly with corresponding needs for adequate medication, South Korea demonstrates strong commitment to the pharmaceutical market through investing and supporting campaigns in R&D that contribute to innovative healthcare products.
With its branch office, Vetter believes it is well positioned to support its existing South Korean business as well as that of new local and global customers, helping them to meet stringent development, manufacturing and packaging requirements of their injectable drugs.
“As a leading contract and development manufacturing organization in prefilled drug delivery systems with a vast amount of experience in business development, we are well aware that being physically close to our customers and their ongoing projects is one of the keys to good client relationships,” said Vetter Managing Director Peter Soelkner.
Added Oskar Gold, Vetter’s senior vice president for key account management, marketing/corporate communications and customer project management: “Our event today acts as an additional signal of our strategy to build on our local presence and activities in this market.”
“Vetter’s entry into the Korean pharmaceutical market represents an important recognition of the progress our nation has made in this segment,” noted Javier Camposana, managing director for drug products at Celltrion, bringing the opinion of one of the South Korean companies in attendance. “South Korean companies such as ours are in need of the services Vetter offers, to help us bring our innovative products to local and global markets. With its long history of qualitative resources, combined with its state-of-the art technology, Vetter can support us in competing on a level playing field and achieving our goals on a global scale. We wish Vetter a successful future in Korea.”