LG Life Sciences shoots for the sky with W1T sales target

LG Life Sciences, a pharmaceutical manufacturer, said Monday that it will seek to reach 1 trillion won ($944.3 million) in sales by 2017 by redoubling its efforts to sell new products abroad. The company said it will strengthen sales of Zemiglo, the first-ever Korean-developed diabetes drug, at home in order to become an industry leader in drugs for disorders categorized under the umbrella term “metabolic syndrome” in Korea.

The Zemiglo pill will also hit the world market sometime this year in cooperation with Sanofi SA, a French healthcare company. Zemiglo has been approved by 79 countries including Russia and India. Biomedicine is LG Life Sciences’ other business target for the future, it said. It added that its newly-developed growth hormone for adults with growth hormone deficiency is awaiting approval by the U.S. Food and Drug Administration. LG Life Sciences expects the new growth hormone to lead its sales in the world market. Its first meningitis vaccine will enter the Chinese market later this year.