GSK, Dong-A Form Strategic Alliance
The alliance will initially co-promote selected GSK and Dong-A pharmaceutical products for use in primary care. Additional synergies will be explored to strengthen both companies’ commercial positions within the Korean pharmaceutical market.
Under the terms of the agreement the companies will share profits generated from the co-promoted products above pre-agreed baselines. A new business unit will be created within Dong-A to manage the collaboration.
GSK appointed Patrick Vallance as senior vice president of medicines discovery and development and as a member of the company’s corporate executive team both with effect from July 1, 2010.
Prior to joining GSK in 2006, Mr Vallance was a clinical academic and led the division of medicine at UCL. He has over 20 years of experience of clinical medicine and has an international reputation as a vascular biologist and clinician scientist.
Andrew Witty, CEO of GSK, said: “Patrick has a deep level of scientific and medical acumen, which coupled with his proven management skills, mean he is well placed to bring further R&D perspective to GSK’s leadership team. This appointment aligns with the company’s drive to increase R&D productivity and deliver more products of value.”
Won-Bae Kim, president of Dong-A, said: “Together with GSK, we have built an excellent win-win alliance. This collaboration is expected to improve our market competitiveness in the fast changing domestic and global pharmaceutical markets.”
Will this collaboration help the companies to improve their market competitiveness?
Have your say and discuss with your peers on the InfoGrok community.
Participate by posting your comments now.