A Pharmaceutical Company That Rose Through Diversification While Others Focused on a Single Field

[By Yoo Sung, Head of Bio Platform Center, Edaily] SEOUL, South Korea. “Single-focus vs. diversification.” In the long run, this is the perennial debate that shapes the rise and fall of companies.

Novo Nordisk, with its century-long history, has thrived by concentrating on diabetes and obesity treatments. Johnson & Johnson, older still, became a top-tier global player by diversifying into pharmaceuticals, medical devices, and consumer products. Both strategies, focus and diversification, proved successful.

In Korea, most biopharmaceutical companies still put all their weight into a single focus: drug development. Their small scale makes diversification a distant dream. Some firms have ventured into cosmetics or medical devices, but only at the earliest stages.

That is why Huons Group, which broke away from the industry norm and pursued diversification early, has drawn attention. Over the past 20 years, it has achieved an average annual sales growth rate of 18.4%, the highest among major Korean pharma companies. As Huons marks its 60th anniversary this year, CEO Song Soo-young sat down with PharmEdaily to share the company’s strategy for global expansion and the secrets behind its sustained growth.

Growth through Diversification

“Huons was founded in 1965 by the late Chairman Yoon Myung-yong with the belief that producing high-quality domestic medicines was an act of patriotism,” Song said. “Building on that founding philosophy, we have combined diversification with pharmaceutical excellence to drive repeated success.”

Song called 2025 “a milestone year” for Huons: “This is the year we lay the foundation to leap forward as a global total healthcare company.”

Huons Group posted 411.8 billion won ($301 million) in sales and 50.8 billion won in operating profit in the first half of 2025. It is on track to surpass 1 trillion won in annual sales, entering the “1 trillion won club” of Korean pharma. Achieving that scale will accelerate its overseas expansion, particularly in the United States.

The group has built its diversified portfolio through active mergers and acquisitions. Pharmaceuticals account for 60% of revenue, followed by aesthetics (20%), health supplements (10%), and medical devices (10%). Industry observers call it one of the few successful examples of broad-based growth in Korean biotech.

Soo-Young Song, CEO of Huons and Huons Global. Photo provided by the company.

Asked about the secret to high growth, Song pointed to “three factors: rapid decision-making, bold R&D investment, and strong leadership.” He emphasized Huons’ culture of swift execution once a decision is made at the management level.

Benchmarking Takeda and J&J

Among global peers, Song said he looks closely at Takeda Pharmaceutical of Japan. “Takeda grew into a top-10 global pharma by pushing aggressively into the U.S., Europe, and emerging markets, supported by bold M&A strategies since the 1990s,” he said.

At the same time, Huons benchmarks Johnson & Johnson. “J&J shows us the path forward: combining strength in pharmaceuticals with medical devices, consumer products, and cosmetics,” Song said. “It has a similar portfolio strategy to Huons, balancing blockbuster drugs with aggressive investment in promising biotech companies.”

Song believes that if Huons’ diversification strategy plays out as planned, within 10 years the company will become “a true global total healthcare player, both in revenue scale and in global standing.”

Focus on the U.S. Market

Song stressed that breaking into the U.S. market is essential, despite recent policy hurdles such as tariff hikes under the Trump administration. “When others hesitate, that’s when the opportunity arises,” he said.

Huons already markets seven injectable products approved by the U.S. Food and Drug Administration and is seeking approval for its lidocaine-epinephrine injection. Song said the group’s affiliates will also push competitive products into overseas markets.

Japanese Lessons, Korean Ambitions

Before joining Huons, Song spent a decade as the first Korean head of Japan Deloitte Consulting. Widely regarded as an expert on Japan, he drew lessons from its pharmaceutical sector.

“Japan became a pharma powerhouse thanks to aggressive R&D investment, uncompromising quality standards, and long-term management vision,” he said. “Its companies built trust in global markets not by chasing short-term gains, but by consistently delivering reliable products.”

For Korean biopharma, those lessons carry weight as the industry strives to build its own global competitiveness.