We have also established a US subsidiary to enter the US market and we are preparing for the abbreviated new drug application submission with the US Food and Drug Administration in 2012.

We have recently added ophthalmologic products to our pre-existing ones which includes Combisop (dorzolamide HCl+timolol maleate) and Acitazanolast. In other therapeutic areas, we have developed Mosaton tab (mosapride) and Felades syrup (pelagonium sidoides extract). We are also currently developing treatment agents for allergic conjunctivitis, gastrointestinal drugs, and agents with advanced formulation where the dose/dosage and compliance of administration are improved.

What have been your major milestones in 2011?

Dr Lee: In 2011, we successfully launched new products - MC Free eye drop (carboxymethyl cellulose) as an artificial tear and Alpadin eye drop (olopatadine HCl) in the field of ophthalmology; Iversense 320 (ioversol) in the field of contrast media; and Mosaton (mosapride) in the field of gastroenterology. We have continued to invest heavily in our sterile factory by adding sterile production line and automated stock-management system. Taejoon Pharm is also supporting academic and clinical research by inviting world-renowned clinical researchers and supporting breakthrough researches in Korea.

Taejoon Pharm is the main sponsor of Korea Foundation for the Prevention of Blindness, which is committed to prevent blindness in low-income families and poor countries. We have continued to support and donate for the cause, and our employees, including the top management, have volunteered for its activities.

What was Taejoon's revenue in 2011 and what is the target for 2012?

Dr Lee: In 2011, Taejoon Pharm's amount of sales was approximately $110 million. In 2012, we are aiming at a growth rate of 15-to-20 percent in the total amount of products sold.