Established in 1978, Taejoon Pharm has been a leading specialty pharma company in Korea in ophthalmology, contrast media and other sectors of the gastrointestinal area. Since 2002, the company has achieved top market share in the ophthalmologic sector and has retained a leading position in the market of contrast media, next to multinational pharmaceuticals.

To compete globally, Taejoon Pharm built a state-of-the-art factory with cGMP certification in 2005 and has been exporting Xalost eye drop (latanoprost), a glaucoma agent, to the European Union since 2009. In 2012, the number of countries to which the company exports its products has reached 30.

In an interview with BioSpectrum, Dr Joon Youb Lee, co-chief executive officer shares the company's plans for 2012 and his take on Korea's life sciences market.

With Taejoon's products reaching 30 countries worldwide, what's next in the pipeline?

Dr Lee: We are already present in countries like Italy, Spain, UK, Poland and Switzerland and are now planning to launch Xalost eye drop in the US and South America, including Brazil. In 2012, we also plan to enter the Chinese market with the approval from the SFDA of China. We cater to nearly all types of ophthalmologic products such as treatment agents for dry eye syndrome, glaucoma, cataract, antibiotics, anti-inflammatory drugs, anti-allergic drugs; and drugs for retinal disorders. Besides, we also have every line of contrast media products for CT angiography, MRI and UGI (upper gastrointestinal tract). In the field of gastroenterology, we provide gastroprotective agents for gastric mucosa and prescription drugs of proton pump inhibitors (PPI).