Chair Park Dae-chang of Ildong Holdoings said, "We will make achieving our goals the top priority this year and focus on improving the group's overall fundamentals and securing new growth engines with Ildong Pharmaceutical at the core."
Park on Jan. 5 held a New Year's kickoff ceremony at the headquarters in Seocho-gu, Seoul, and at major business sites nationwide with executives and employees of the holding company and affiliates attending, and said, "We will clearly generate sales and revenue results and build a sustainable business framework to create a competitive edge."
Ildong Pharmaceutical Group this year presented "ID 4.0, generating competitive-edge results" as its management policy, continuing from last year. To that end, it set "generating sales and revenue results" and "securing new growth engines and building a sustainable business framework" as two key indicators.
The group plans to raise profitability by pursuing target achievement in its core business sectors centered on Ildong Pharmaceutical and improving productivity through cost innovation. It also plans to build a virtuous cycle across the business by reorganizing its product lineup and discovering new business models.
It plans to deploy companywide capabilities to global business development by actively promoting overseas technology exports and open innovation based on new drug research and development (R&D) and pipeline assets.
Park said, "Even in last year's challenging environment, we streamlined our business and cost structures and strengthened our sales base through diversified marketing and new product launches, improving profitability."
Park added, "In research and development, we also made meaningful progress on major new drug projects, including a GLP-1 RA (glucagon-like peptide-1 receptor agonist) obesity treatment, a P-CAB (potassium-competitive acid blocker) peptic ulcer treatment, and new anticancer drugs."
In particular, regarding the oral obesity new drug candidate "ID110521156," Park said, "We confirmed efficacy and safety versus competing substances in a phase 1 clinical trial, increasing the possibility of commercialization, including technology transfer."