Kay Bae appointed as KRPIA chair, also overseeing NZ, AUS

Kay Bae has been recently promoted to take the global lead and was appointed as a new chair of the Korean Research-based Pharmaceutical Industry Association (KRPIA)

Bae is expected to provide keen insight to the pharmaceutical companies and the government

Kay Bae, KRPIA Chair

Kay Bae (53), Sanofi-Aventis Korea Country Lead, literally has become the ‘center’ of the pharmaceutical company.

 

Bae, who was recently appointed as a Country Lead to manage subsidiaries including Korea, New Zealand, and Australia of the Sanofi Group, is appointed as a new Chair of the Korean Research-based Pharmaceutical Industry Association (KRPIA).

 

As the head of the organization representing Korean multinational companies and big pharma Sanofi’s major Asian-Pacific countries, Bae emerged as a key player in multifaceted communication.

 

Bae’s KRPIA appointment was a surprise because Bae declined an offer for the position multiple times when the KRPIA chair position became vacant.

 

Bae’s interests and Korean-like modesty may likely have influenced her previous decisions, but the analysis suggests that Bae may have declined offers previously because of her commitment to her primary appointment (Sanofi-Aventis Korea Country Lead).

 

This time, Bae may have been in a situation where she could no longer decline KRPIA’s offer.

 

KRPIA’s board of directors (BOD) list shows that new members have joined the board following many CEO transfers within the multinational pharmaceutical companies in one to two years.

 

Rumor has it that Sang Kyung Noh (61), Amgen Korea’s CEO, was the only other candidate besides the previous Chairman Oh Dong-Wook (54), Pfizer Korea’s CEO, for the head of KRPIA.

 

The KRPIA board of directors 2024 (Member companies in alphabetical order): Soyoung Kang of AbbVie Korea, Sang Kyung Noh of Amgen Korea, Junil Kim of Astellas Pharma Korea, JinA Lee of Bayer Korea, Hye Young Lee of BMS Pharmaceutical Korea, Jaeyeon Choi of Gilead Sciences Korea, Maurizio Borgatta of GSK Korea.

 

Christoph Hamann of Merck Korea, Ji-young Sohn of Moderna Korea, Albert Kim of MSD Korea, Jae (Byungjae) Yoo of Novartis Korea, Dong-Wook Oh of Pfizer Korea, Kay Bae of Sanofi-aventis Korea.

Although her business responsibilities have expanded, Bae has taken on the role of the chair.

 

Sanofi has recently undergone a restructuring that combines Korean, New Zealand, and Australian corporations.

 

In addition, Sanofi will integrate business divisions previously operated independently into a unified business system.

 

In other words, Bae will have greater decision-making power and expanded roles within the company.

 

There will be many overseas business trips as well.

 

There are concerns regarding whether Bae can commit to the organization since she has additional business in the busiest period.

 

On the other hand, Bae is expected to do well, considering her role as a control tower.

 

In an era of high drug prices, KRPIA works diligently for drug pricing of new drugs.

 

The KRPIA plays a critical role in the organization, suggesting reform in drug pricing system and communicating with the government.

 

Amid this situation, Bae will be responsible for determining the core message of the organization representing pharmaceutical companies in Korea while also overseeing New Zealand and Australia, which are Korea’s drug pricing reference counties.

 

After a long period of vacancy, the primary positions of KRPIA are now filled, indicating vitality.

 

New wheels are turning.

 

It is to be watched whether the executive team under Bae's leadership can achieve more than just protecting drug prices.

 

They need to negotiate with health authorities using sound reasoning and judgement, resulting in an agreement that prioritizes 'improving patient accessibility.' “Global pharmaceutical companies face a rapid healthcare and medical atmosphere.

 

Based on KRPIA’s patient-centered vision, we will engage in various efforts to provide patients in Korea with rapid and broadened treatment benefits of innovative new drugs,” Bae stated as she was appointed as KRPIA’s chair.

 

Meanwhile, Bae became the longest-serving CEO of a multinational company last year when Kim Dae-jung (64), former CEO of Daiichi Sankyo, retired.

 

Bae was appointed as the CEO of Genzyme Korea in 2010 and has served as the Country Lead of the Sanofi-Aventis Korea and Sanofi integration management committee (then Sanofi-Aventis, Sanofi Pasteur, Genzyme, Merial) for over ten years since 2013.

 

Bae represents a female CEO in a multinational pharmaceutical company.

 

Bae started her business career at Novartis and later joined Genzyme.

 

Bae led the integration process when Genzyme was fully acquired by Sanofi in 2019.