Bijay Singh has over 30 years of experience in the healthcare field. He holds a bachelor’s degree in business administration from Simon Fraser University in Canada and an MBA from Stanford University in the United States.
Q: What is the main purpose of your visit to Korea?
The visit to South Korea is part of a global tour for off-site meetings and includes regular market visits to maintain close communication with local clients and customers. This ongoing engagement helps DKSH stay connected and better understand their needs, ensuring the best possible service and support.
As a center of healthcare innovation in North Asia, Korea remains a strategic priority market for DKSH. In February 2024, DKSH Korea officially launched its domestic distribution and sales of Atacand, an antihypertensive medication. The initiative has shown a promising start thus far, prompting further exploration of new opportunities in the Korean market.
Q: Please briefly introduce DKSH.
DKSH, founded in 1865 by pioneers in overseas trade, is a global company that focuses on supporting business growth in Asia and beyond, continuing our rich roots in Asia and strong entrepreneurial spirit. Headquartered in Switzerland and listed on the Swiss Stock Exchange, DKSH provides services across four industries including consumer goods, healthcare, performance materials, and technology.
As a leader in Market Expansion Services and a strategic business partner, DKSH supports clients in all stages of their growth, from marketing and sales to distribution, logistics, and after-sales services. With over 29,000 employees operating in 36 markets worldwide, DKSH has established a strong network across Asia. The company combines a deep understanding of local markets with global expertise to help clients deliver sustainable business growth.
Q: What is the significance and proportion of the healthcare business within DKSH?
The Healthcare business unit within DKSH Group represents the largest share and is pivotal to our operations. Our healthcare division has demonstrated strong performance both in terms of revenue and profitability, achieving robust growth across various regions.
Furthermore, DKSH’s purpose is “Enriching People’s Lives.” This purpose aligns with the nature of the products and solutions we commercialize and distribute in the healthcare division. We realize this purpose by providing better healthcare services to patients in the regions where we operate globally.
In particular, the Korean market holds significant growth potential. We reorganized our sales structure starting November 2023 and commenced domestic distribution and sales of Atacand in 2024, marking our entry into the specialty pharmaceutical market. We plan to continue investing heavily in the Korean market, leveraging strong sales organization and innovative products. Moving forward, we are dedicated to continuing our growth in Korea going forward, which will strengthen our position in the international market because of DKSH's expansion into the healthcare industry.
Q: What are the long-term vision and goals for the DKSH Korea Healthcare division?
As a global market expansion solutions provider and a strategic healthcare business partner, our purpose and mission at DKSH Healthcare is to enrich people’s lives by providing better healthcare for all. We aspire to be the partner of choice for our clients – delivering sustainable business growth; the employer of choice for our employees – providing an optimal work environment for our teams; and a driving force working with others to uplift our healthcare ecosystem – helping improve patient outcomes in the markets where we operate. All while achieving our financial and profitability ambitions.
In line with DKSH's global vision and strategy, we aim to achieve successful operations and create new business opportunities in the Korean market through effective management and M&A activities. The crucial basis is the critical foundation of nurturing talent. DKSH's unique experience and systems have been developed over many years, and leveraging this successful know-how, we will continue to drive sustainable growth. The core strength of DKSH lies in our talented workforce.
Q: What are your future investment plans for the Korean healthcare market?
We continue to invest across the different parts of our value chain globally. This includes innovations in distribution and supply chain management like automated packing solutions and AI machine vision systems for surgical product verification.
In sustainability, we are investing in reusable cold chain shipping boxes, electric delivery vehicles, solar panels, and paperless processing. In commercial operations, we continue to invest in digital optimization initiatives like digital payment options and upgraded CRM tools. However, our biggest investment continues to be in our people.
Q: What efforts are being made to develop and nurture talent within the Korean division?
DKSH has built its current corporate culture based on five values: Integrity, Empowerment, Collaboration, Entrepreneurship, and Sustainability. Additionally, the important ideal within DKSH, referred to as 'People DNA' is "caring about others”.
Moreover, we develop customized learning and development roadmaps tailored to the business needs of each division, supporting and operating programs that enhance both team and individual capabilities. We actively support personal career development through individual development plans and regular reviews. We also engage in practical discussions during high-performing team workshops to foster collaboration and build teams that grow together. Additionally, we dedicate ourselves to talent development and nurturing through various programs.
Q: DKSH Korea announced its entry into the domestic prescription drug market by starting the distribution and sales of Atacand. What is Atacand?
Atacand is a representative product in the management of cardiovascular diseases, known as an angiotensin receptor blocker and a hypertension treatment. Since its launch in 1999, it has been globally recognized for its efficacy and safety for over 20 years. According to IQVIA, a pharmaceutical market research firm, Atacand recorded sales of approximately KRW 35 billion in South Korea as of 2022.
Q: Atacand once achieved significant sales of over KRW 40 billion, becoming a major item, but has faced a decline due to the emergence of competing drugs. Are there any strategies to boost sales in the Korean market?
While many pharmaceutical companies are launching combination therapies and expanding their portfolios with treatments for various chronic conditions, I believe there is significant growth potential for Atacand, given its contributions to treating hypertension in Korean patients for over 20 years since its launch in 1999.
For example, Atacand demonstrates a strong binding affinity to angiotensin receptors, providing a sustained blood pressure-lowering effect for over 24 hours. This feature can benefit busy young patients and offer convenience to elderly patients who require multiple medications due to its compact dosage form. Looking ahead, we plan to enhance collaboration with healthcare professionals to actively communicate Atacand's benefits and effectiveness. Through strategic marketing efforts, we aim to raise awareness among both patients and medical professionals, thereby expecting to drive growth in Atacand's sales.
Q: Are there any products you are preparing to distribute or sell to expand in Korea?
DKSH Korea is currently preparing to enhance the accessibility and availability of specialty pharmaceuticals across South Korea through comprehensive services encompassing licensing, distribution, marketing, and sales of pharmaceuticals and medical devices. We are actively reviewing and preparing a range of therapeutic products to introduce soon.
Q: How do you evaluate the outlook of the South Korean healthcare industry?
As South Korea's pharmaceutical market ranks within the top 15 globally, it represents a significant market with numerous healthcare companies requiring diverse services. Therefore, DKSH expects ample opportunities to serve as a trusted partner.
Q: Can you elaborate on the collaboration plans with pharmaceutical and healthcare companies within South Korea?
We continue to partner with pharmaceutical and healthcare companies across multiple markets where we operate. With our deep understanding and extensive network of North Asia, Southeast Asia, and the Asia Pacific region, we provide strategic consultation and expert services with synergies in multiple markets, across therapeutic areas and throughout the end-to-end value chain.
To offer specialized services in various therapeutic areas, we intend to carry on working with numerous pharmaceutical and healthcare organizations in Korea. Please look forward to it.
