1. We understand that Green Cross is one of
the top leading pharmaceutical companies in Korea, and we admire the efficient
and proactive expansion. What are the major business philosophies or strategies
of Green Cross?
- Green Cross Holdings always focuses on
patients’ needs and the healthier global society. Our main business portfolio
is plasma derived products, vaccines, recombinant products and cell therapy
products.
For plasma derived products, we are building
new facility in Montreal, Canada for North America market and expanding plasma
collection centers in the US and China. For vaccines, we have developed
hepatitis B vaccine in early 1980’s, and our vaccine still is one of the most
sold hepatitis B vaccine in the world. Influenza vaccine and varicella vaccine
were approved for WHO PQ (Pre-Qualification), requirement for tender business
in South America through PAHO. These two vaccines have more than 50% market
share in this business.
For recombinant products, we have developed
GreenGene F, a recombinant Factor VIII for hemophilia A patients as 4th product
in the world, Neulapeg, once a week formulation of G-CSF for neutropenia and
Hunterase for very rare hunter syndrome patients as 2nd in the world. There are
approximately 2,000 hunter syndrome patients worldwide and annual treatment
cost is more than $300,000 per patient. For cell therapy products, we are
currently marketing Immuncell LC, autologous T cell for hepatocellular
carcinoma and developing allogenic NK cell and CAR-NK. We are also
collaborating with US companies for dendritic cell and stem cell. We will
continue to focus our research on great future impacts for healthier life of
human beings.
2. Green Cross
Holdings recently has been gradually expanding through M&As and focused
investments in new drug development. These factors have been strengthening
Green Cross Holdings’ global competitiveness. What does ‘globalization’ mean to
Green Cross Holdings?
-Compare to any other industry in Korea, the
most Korean pharmaceutical companies have little experiences in global market.
Only 20 percent of our sales come from the overseas businesses. Our goal is to
increase it up to 50 percent.
Green Cross China is growing rapidly with
excellent reputation for plasma derived products, and we will add recombinant
and cell therapy products for Chinese market. Green which is newly established
in Canada will be the base camp for North American market.
We already have several strategic partners in
the US for monoclonal antibody and cell therapy, and we continue to search for
more investment and partnership opportunities with US/EU companies.
3. You have a science background and still,
you had been recognized as one of the most successful CEOs in Korean
pharmaceutical industry. What are the pros and cons of being a scientist
trained CEO in the pharmaceutical and healthcare company?
-The pharmaceutical and healthcare industry is
very unique and science background CEO has some advantages to make business
decisions based on scientific confidence and principles. As a chemical engineer
and biomedical engineer by training, I may have weakness in financials and
other general business issues but could overcome by education and experiences.
This was great experience for me to combine science and business.
4. Healthcare industry is one of the most
unique fields where collaboration of service providers, researchers, and
technology providers is essential. How are you dealing with managing your
business networks successfully?
-Just like any other industries, networking is
one of the key elements for business success. Since healthcare industry is so
diverse, we need more collaboration from many different fields. Geographically,
the major market of healthcare industry is still concentrated in western
countries and we must work with them. Because of various cultural differences
between Asian and western countries, I try to understand these cultural
differences in business and adapt to global standard. This is how I manage my
business network.
5. As an entrepreneur, what would you say are
the top three priority assets or skill sets needed to be success in the global
healthcare industry?
- Passion, Trust and Attention to others.
These are the top three priority assets I may say that apply to have the
successful life, not just limited to be successful in the global healthcare
industry. Doing a good business and living a good life must be the same.
6. You have been serving as a chairman of
Korea Biotechnology Industry Organization (Korea BIO) since 2013. As one of the
significant KOLs in Korea’s healthcare industry, how do you forecast global and
Korean biotech industry in 2015?
- I have attended JP Morgan Conference in
January 2015 and felt global biotech industry is booming. Cancer immunotherapy
is one of the hot areas and the trend will persist. Korea has many world class
industries like semiconductors, smart phone, shipbuilding, automobile, home
appliances, etc. However, biotech industry is far below compare to the global
level. Korean government has set biotech industry as one of the next generation
growth engine. Cell therapy will be one of the areas we are moving aggressively
towards, and mobile healthcare/ wearable device is another area of interest by
combining our strong IT and BT.
B.G. (Byung Geon) Rhee, Ph.D.
President,
Green Cross Holdings Corp.
Dr.
Rhee is a President of Green Cross Holdings Corp and Chairman of Korea Bio
Industry Organization. Dr. BG Rhee has more than 25 years of experience in
various positions within the pharmaceutical industry. Before joining Green
Cross, Dr. Rhee was a President and CEO of Expression Genetics, Inc., a bio-venture
company in the US. Dr. Rhee has a particular interest in developing innovative
ways for Green Cross to become a global leader in the healthcare industry. Dr.
Rhee obtained his B.S./M.S. degree in Chemical Engineering from Seoul National
University and Ph.D. degree in Chemical Engineering and Biomedical Engineering
at Rice University, Houston, TX.