Mundipharma Korea appoints new general manager

By Nam Hyun-woo

Mundipharma Korea said Monday that it has appointed Lee Myung-sea as its new general manager.

Lee, 47, is a doctor-turned-management specialist who graduated from Hallym University Medical School and earned an MBA at Wharton of the University of Pennsylvania.

He started his career in the drug industry by working for MSD-Korea and extended it through experiences at Eli Lilly’s Korean and with units of Abbott Korea in the Philippines.

At Abbot Korea, he worked as the general manager of the Established Pharmaceutical Division, garnering a reputation as a leading doctor-turned-manager in the local drug industry.

Mundipharma Korea said in a statement that Lee has rich experience in academic, clinical and managerial posts, adding that through his expertise in medicine and management, he will lead the company to prosper.

“Though the domestic drug industry is slowing, Mundipharma Korea continued to post double-digit growth, drawing keen attention among industry insiders,” Lee said. “I am very pleased to become the general manager of such a fine company and will do my best at Mundipharma Korea to consolidate its status as a leading company providing medicine contributing to the public health.”

Since the drug maker is a limited company, it is not obliged to announce its sales or financial statements. Market insiders estimate that the company recorded up to 30 percent growth last year, boosted by the sound sales of its Medifoam moist wound dressing. According to Neilsen’s data of Nov. 30 last year, the sales of Medifoam have grown a whopping 146 percent from a year earlier.

Lee will succeed Lee Jong-ho, who resigned in May. Since his appointment in 2010, the former general manager had led the company to record double-digit growth every year, but stepped down for unknown reasons.

Over his resignation, anticipation was palpable that Lee was pressured to maintain sharp growth, but the company refused comment on the issue.

During the vacancy, Raman Singh, president of Mundipharma Asia Pacific, Latin America, Middle East and North Africa, led Mundipharma Korea as acting head.

Singh said in a statement that: “Lee’s appointment will help Mundipharma provide innovative treatment for Korean patients. Based on his broad experiences in and outside of Korea, I believe Lee will fully serve Mundipharma’s dedication of putting patients at the heart of every business decision.”