[New Year's Address] Yuhan Yanghaeng "Must Accelerate Development of Second and Third Rekraza"

At the 2023 opening ceremony of Yuhan Corporation held on the 2nd, Jo Wook-je, CEO of Yuhan Corporation, is delivering the New Year's address. (Photo by Yuhan Corporation)

[Asia Economy Reporter Chunhee Lee] Jo Wook-je, CEO of Yuhan Corporation, emphasized in his New Year's address on the 2nd that "we must secure the company's future growth engine through selection and concentration to develop the second and third 'Recklaza' at an early stage."

Yuhan Corporation held its 2023 opening ceremony on the 2nd, providing an opportunity to renew its determination for the new year of the Year of the Black Rabbit. At this event, Yuhan set its management indicators for this year as 'Integrity, Progress, Efficiency' to achieve its corporate vision of 'Great & Global.' Based on Yuhan's core virtues of honesty, trust, and sincerity?'Integrity'?the company plans to make progress (Progress) to achieve goals established with passion and will, and to work efficiently (Efficiency) with creative thinking and proactive activities even in a rapidly changing environment.

In his New Year's address, CEO Jo Wook-je said, "I sincerely thank all employees for their hard work amid difficult and uncertain management conditions," adding, "Although this year is expected to be challenging as well, I am confident that all employees can wisely overcome the crisis and turn it into new opportunities based on the company's core values of Progress and Integrity.”

He continued, “We will continue to strengthen our research and development (R&D) capabilities and make new investments for sustainable future growth, and we must develop the second and third Recklaza at an early stage." He emphasized, "Through selection and concentration, we must secure the company’s future growth engine by introducing promising pipelines and expanding foundational technologies.”

Recklaza (active ingredient: Lazertinib) is a new drug for treating non-small cell lung cancer, licensed by Yuhan Corporation in 2015 from Genosco, a subsidiary of Oscotec. In 2018, the technology was also licensed out to Janssen (a subsidiary of Johnson & Johnson), a global big pharma company. In January 2021, it received marketing approval from the Korean Ministry of Food and Drug Safety, becoming the 31st domestically developed new drug, and FDA approval in the United States is expected next year.

Meanwhile, as of the 1st, Yuhan Corporation reorganized some organizational units, including the establishment of the Commercialization Strategy Team and the Global Alliance Management (AM) Team, along with regular executive personnel appointments. Accordingly, Kim Yong-chan, head of the Pharmaceutical Management Division, and Park Chan-hwan, head of the Management Division, were promoted to managing directors.