Ophthalmic Products

Research &
Development Center
in Cambridge shire

BUSINESS PLAN
BY: MR FAISAL KHOKHAR
 TABLE OF CONTENTS
EXECUTIVE SUMMARY

PHARMACEUTICAL OVERVIEW
•MARKET DYNAMICS
•MARKET STRUCTURE
•MARKET SIZE
OPHTHALMIC SPECIALTY SEGMENTATION
•SEGMENTATION BY CLASSES
•SEGMENTATION BY DISEASES
•SEGMENTATION BY DOSAGE FORMS
•SEGMENTATION BY PRODUCT TYPE
•MARKET LEADERS
PHARMACEUTICAL VALUE CHAIN

OPPORTUNITY RATIONALE

WHO WE ARE-HISTORY AND CURRENT POSITION OF THE BUSINESS

WHAT WE PLAN TO DO IN UNITED KINGDOM

PRODUCT FOCUS AND MARKET SIZE

•GLOBAL RETINAL DISEASE MARKET
•GLAUCOMA MARKET
•DRY EYE DISEASE MARKET
TARGET MARKET FOCUS-SALES AND MARKETING

FACILITIES, OPERATIONS AND MANAGEMENT STAFF

•LOCATIONS
•PREMISES
•EQUIPMENT’S
•RAW MATERIALS
•ORGANIZATIONAL CHART
•DIRECTOR’S PROFILE
5 YEARS FINANCIAL PROJECTIONS
•MARKET SIZING
•MARKET ENTRY
•PRODUCT LAUNCHES AND MARKET SHARE PLAN
•INITIAL INVESTMENT
•EQUITY PARTNERS
CASH FLOW PROJECTIONS

EXHIBIT 1

EXHIBIT 2

EXHIBIT 3

EXHIBIT 4

EXHIBIT 5

EXHIBIT 6
Executive Summary

This business plan details the launch of an Ophthalmology focused Research & Development
center in the “beating heart of research and science in the UK today i.e. Cambridge”. The
founding Directors of the business (Dr Faisal Qadeer Khokhar & Dr Abdul Qadeer Khokhar)
together bring more than half a century of knowledge and experience in Ophthalmology
specialty. The main equity investor in the proposed business plan is Remington Pharmaceuticals
which is a leading Ophthalmology manufacturing & sales company in Asia and based in
Pakistan. From these facts, it is evident that we are not only experienced in what we plan to
do, but also deeply passionate about it.

The development of a pharmaceutical product is nowadays a very collaborative process and

involve multiple parties such as academia, contract research organization (CROs),
manufacturing, packaging designers etc. Pharma companies are increasingly outsourcing
parts of their value chain to stay competitive and flexible. One main area of outsourcing is
pharma R&D and we seek to place this part of the value chain in the hub of knowledge. That
is the reason we have chosen to set up a state of the art Ophthalmology focused R&D center
in Cambridge shire.

To find our opportunity rationale, we have done detailed market research on global
Ophthalmology specialty and further focused onto three therapeutic classes which are:

1. Anti-Glaucoma
2. Retinal diseases
3. Dry Eyes Diseases

To further identify the unmet needs of the consumers and to create layers of our competitive
advantages over the competition, we have used our specialty knowledge and market
intelligence to come up with the following mission statement.

Mission Statement

To free eye patients from concerns over their illness as soon as possible

This document details the plan how we will achieve our mission and create value for our
shareholders, which not only includes our equity investors but also society at large. To start our
operations and taking first step towards achieving this mission, we have focused on few
products and few markets. We will do research in above mentioned therapeutic classes and
launch only a few powerful products every year. We will offer those products for out licensing
and private labelling to manufacturers in our chosen target markets (selected countries in Asia
& Africa) and take our revenue from royalties received on the sale of our products.

The total initial investment needed to undertake this business is around GBP 1,200,000. Using this
investment we will lease out a minimum of 5000sft of built space and renovate it for our purpose.
We have a list of equipment and inventory which we need to maintain. And we will hire best
science talent from UK to work with us on making high quality products. A considerable and
continually increasing investment will be of course on R&D activities.

We have done our financials prudently & conservatively and the business will become cash
positive 3 years after launch. Of course there is considerable R&D and marketing expense
which will be covered as our sales continue to grow. Exhibit 6 of this document shows the
financial highlights and detailed cash flow projections.

OPHTHALMIC PRODUCTS RESEARCH & DEVELOPMENT CENTER - [SELECT DATE] 2

Pharmaceutical Industry Overview:

In this section of the business plan, we will outlay some important parameters of the ophthalmic specialty
pharma market which will form the foundation of our business case and lead us to the opportunity rationale
behind our plan. Although we will focus on the ophthalmic specialty statistics mostly, we will from time to time
mention some global pharma dynamics as well to keep things in perspective.

MARKET DYNAMICS: The pharma industry is affected by the dynamic shifts in the market. New revenue
models are resulting from activities such as parallel trade, the generic vs. patent fight, mergers and
acquisitions (M&A), in-licensing and out-licensing, and the choice between semi block buster and block
buster. The shift from chemical-based small molecules to biology-based large molecules like antibodies and
protein has also created new opportunities in the industry.

The shift from prescription to generics is causing a great shift in the revenue models of pharma companies.
Shifting from the block buster model to the semi block buster model, and In-licensing and Out-Licensing are
also adding to the new revenue equations. Parallel trade and varying government policies from country to
country are affecting the geographic market scenario in the pharma industry. The changing portfolio of
companies from integrated to outsourced and networked model, and marketer vs. venture
capitalist/strategist is further redefining the market segmentation.

MARKET STRUCTURE: The general pharma market is not very fragmented and is majorly led by the top 10
Big Pharmas, however at the regional level we see lot of fragmentation with multiple companies producing
generic products. North America has the largest share of the pharma market from the consumption point of
view, followed by Europe. The ophthalmic specialty market remains quite fragmented. Pharma companies
such as Pfizer, Merck, Wyeth, Eli Lilly, GSK, and BMS, Johnson n Johnson, Aventis, Novartis, Roche, and Bristol
are showing increasing international sales whereas local players in every country produce number of generic
products.

MARKET SIZE: The global pharmaceuticals market was worth $934.8 billion in 2018 and will reach $1170 billion
in 2021, growing at 5.8%: With the ophthalmic pharmaceutical sector currently at around $37 billion
worldwide and anticipating a $9.6 billion in incremental growth till 2023. Below dashboard shows some key
facts about the ophthalmic pharma market.

Source: American Academy of Ophthalmology- Webpage https://www.aao.org/journals

OPHTHALMIC PRODUCTS RESEARCH & DEVELOPMENT CENTER - [SELECT DATE] 3

Ophthalmic Specialty Segmentation

The ophthalmic market is segmented as follows with respect to classes, diseases, dosage forms and product
types.

SEGMENTATION BY CLASSES: Major drug classes include anti-allergy, anti-glaucoma agents, anti-
inflammatory, and anti-Vascular Endothelial Growth Factor (anti-VEGF) agents. The anti-VEGF agents led the
market in 2018 with a market share of 31.67% owing to their wide application in the treatment of Age-Related
Macular Degeneration (AMD), diabetic retinopathy, and retinal vein occlusion.

Source: Towards Universal Eye Health; a Global action plan 2014-2019 WHO Report WHA 66.4

SEGMENTATION BY DISEASES: On the basis of disease, the market is segmented into dry eye, glaucoma,
inflammation/ infection, retinal disorders, allergies, and uveitis. The retinal disorder segment led the market in
2018. Retinal disorders is anticipated to be the fastest-growing segment with a CAGR of 7.6% from 2019 to
2026 owing to the increasing prevalence of diabetes.

SEGMENTATION BY DOSAGE FORMS: According to the dosage form, the market is segmented into gels,
capsules and tablets, eye solutions, eye drops, and ointments. Eye drops led the market in 2018 and is likely
to witness the fastest growth as they are cost-effective than other dosage forms. In addition, the
development of innovative therapeutics in the form of eye drops is support to the segment growth. For
instance, in 2017, Bausch & Lomb Inc. got FDA approval for LUMIFY, the first OTC eye drop with low dose
brimonidine for the treatment of redness of eye.

SEGMENTATION BY PRODUCT TYPE: On the basis of product type, the market is segmented into OTC and
prescription drugs. Prescription drugs was the largest segment in 2018 as these are more effective than OTC
and are used in medical treatments, such as cataract and post-surgery inflammations.

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MARKET LEADERS: Some of the key companies in this market include Novartis AG; Bausch & Lomb, Inc.;
Regeneron Pharmaceuticals, Inc.; ALLERGAN PLC; Alcon; Pfizer, Inc.; Bayer AG; Santen Pharmaceutical Co.,
Ltd.; Johnson & Johnson Services, Inc.; Merck Sharp & Dohme Corp.; and Genentech, Inc. These focus more
on mergers & acquisitions, regional expansion, and new product development to increase their market share.

PHARMACEUTICAL VALUE CHAIN

It is important to present the complicated and intensive value chain of a typical R&D center and identify
which part of the value chain we plan to base in United Kingdom. It is very common for large companies to
base parts of the R&D value chain in different parts of the world. To take an example of Santen, they have
concentrated their basic research, non-clinical studies and drug formulation research in Japan while clinical
developments are done in USA where it is less time consuming. And then late stage clinical developments
are done in China and emerging countries.

Source: Remington Research; Drawing by MA

Similarly we studied working models of other market leaders to devise our own business model and it leads
us to our very own opportunity rationale.

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OPPORTUNITY RATIONALE:

As we saw in the previous section, developing new pharmaceuticals entails a long period, as well as a diverse
process ranging from basic research to marketing. Bigger pharmaceutical companies are vertically
integrated along with value chain and doing molecule based research. And they base their functions in
different parts of the globe to achieve efficiency.

Our mission is “To free patients from concerns over their illness as soon as possible”. And for that we must
improve the efficiency of our R&D process. To this end, our startup in UK plans to network with research
laboratories across the globe and conduct generic drug development on a global basis. In this way, we are
reinforcing our system to create new products that meet global medical needs in a timely manner.

From this point onwards we are going to focus on how we are going to achieve our mission. We will layout
the answers to following questions.

1. Who we are
2. What we plan to do in UK
3. What will be our Product focus
4. What will be our Target market focus
5. What will be our Sales & Marketing plan
6. How we will generate wealth - Financials

WHO WE ARE - HISTORY AND CURRENT POSITION OF THE BUSINESS

We are going to be an ophthalmology specialty R&D center in UK. Our main equity partner is going to be
Remington Pharmaceuticals. An introduction to Remington is given in this section, however before we move
to that we would like to explain further why we are passionate about ophthalmic specialty and the
opportunity we see in this field.

Over the last decade we have seen the introduction of several new ‘ophthalmology only’ pharmaceutical
products emerge such as Trusopt (dorzolamide, Merck) and Xalatan (latanoprost, Pharmacia). Innovative
products such as these have driven much of the ophthalmic pharmaceutical growth, outpacing the older
products that were often developed for ophthalmology via other therapeutic areas. With the ophthalmic
pharmaceutical sector currently at around $37 billion worldwide, the continued growth is likely to be driven
by even more first-in-class entries in ophthalmology. Three areas that are especially poised for explosive
growth are anti-glaucoma, dry eye and retinal disease, in which many new therapeutic approaches are
currently in development.

Our partner, Remington holds the leading position in this field in Asia.

WELCOME TO REMINGTON
Remington Pharmaceuticals is one of the leading ophthalmic specialty pharmaceutical company in Asia
specializing in the design, development and manufacturing of premium quality and innovative Ocular
diagnostics, specialized Dry eye therapies and ophthalmic wellness products. Built on strong foundations of
commitment to excellence, today, Remington’s strong brand has become synonymous to highest standards.

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Their manufacturing facility in Pakistan is equipped with state-of-the-art technology and an extremely
competent product development team to ensure that the products provided by the company meet
international standards and are of the highest quality. The company is a specialist branded generics
pharmaceutical company having state of the art CGMP compliant manufacturing facilities with large
capacities for manufacturing eye drops, tablets, capsules, syrups, dry suspensions, ointments, ear drops and
cephalosporin. Being an ISO 9001:2000(E) certified company, they have extended their efforts to the Total
Quality Management Program for the benefit of the organization itself, its members and of the society as a
whole.

Delegates from Europe and the US have visited and admired the quality standards maintained at
Remington’s production facilities. This has led them to formalize transnational relationships and enhance their
strategic partnerships.

WHAT WE PLAN TO DO IN UNITED KINGDOM

As mentioned earlier, we are going to be a state of the art R&D center in UK which will focus on product
development in ophthalmic specialty with further focus on following classes:

1. Anti-Glaucoma
2. Dry Eye Diseases
3. Retinal Diseases

With the strength of our main equity partner i.e. Remington we have a very strong relevance to this business.
Moreover we want to base a very critical part of the ophthalmic specialty value chain in UK (R&D and
product development) so as to achieve the efficiencies which will benefit all stakeholders i.e. our
shareholders like Remington, our customers, our suppliers, our employees and society at large. We will be
able to achieve our mission i.e. “To free patients from concerns over their illness as soon as possible”.

Our business model will be focusing on collaborations and in-house research both. We will give our products
for private labeling to different manufacturers across the globe. The revenues for Remington UK will come as

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as a result of royalties from out licensed products. Our main equity partner is already established market
leader in ophthalmic specialty in Asia. So one option for the new company is to outsource new products to
our partner.

So the value proposition is evident from the efficiencies we are bringing to the whole value chain. By placing
the R&D center in UK, we will be separating the R&D from the manufacturing hubs who will then ultimately
focus on manufacturing, marketing and sales only: A win-win situation for all stakeholders. Placing the R&D
function in UK will bring much superior results while at the same time let their partners focus on sales and
marketing of those products in their respective countries.

OUR PRODUCT FOCUS & THE MARKET SIZE:

As mentioned earlier, the focus of the R&D center would be in following classes in ophthalmic specialty. And
in this section we will touch on the market potential of these classes.

1. Retinal Diseases
2. Anti-Glaucoma
3. Dry Eye Diseases

The Global Retinal Disease Therapeutics Market led the market in 2018 and was valued at US$ 11 Billion in
2018. It is projected to reach US$ 18 Billion by the end of 2026, exhibiting a CAGR of 6.6%.

Affecting the life of over 253 million people across the globe, retinal diseases is a growing problem in
developed as well as developing countries, which is likely to be a major burden on the healthcare industry
in coming years. Considering the current demographic trends, the improved life expectancy of the
population is expected to put enormous pressure on the ophthalmic care industry, as around 81% of the
patients with visual impairment are aged over 50. The rising prevalence of diabetes in emerging economies
is propelling the number of cases suffering from retinal diseases such as diabetic retinopathy, diabetic
macular edema, etc.

On the next page, we have shown the market potential continent wise. Based on our analysis, our target
market of Asian and African countries would make up a market size of around $ 5.5 Billion.

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 Source: American Academy of Ophthalmology- Ophthalmology Retina Journal

Glaucoma is an established indication with a large number of treatment options available, and as a result
the disease is generally associated with low levels of unmet need. However, some unmet need does remain
in this disease area, with the most significant generally considered to be a need for greater patient
compliance.

Since 2014, the focus of pharmaceutical companies has begun to shift towards the development of new
classes of glaucoma drugs, and this trend is expected to continue for at least next two decades. Some
pharmaceutical companies have opted to continue the established strategy of reformulating existing drugs
for glaucoma to provide added value. However the late-stage pipeline drugs are set to have a significant
impact on the glaucoma market, and be a key driver of growth throughout the forecast period. Our plan is
to follow both strategies; reformulating the existing drugs to provide added value and at the same time
building collaborations with the labs in UK/EU and USA to get research from the pipeline products.
Reformulating will be our short term and medium term strategy while our long term strategy will be to bring
the new research to our partners in Asian and African countries at the earliest possible so as to take the first
mover advantage in our target markets.

Some key facts about the Glaucoma market are given below. Our main partner Remington is already an
established market leader in the manufacturing, sales and distribution of these products in Asia. Of the total
global market size of $6.2 Billion, around 29% is Asian and 6% is African; so our targeted market size is around
$2.2 billion.

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 Source: American Academy of Ophthalmology- Ophthalmology Glaucoma Journal

The dry eye disease market was valued at USD 4,539.22 million in 2018, and it is expected to reach USD
6,175.96 million by 2024, registering a CAGR of 5.23%, during the forecast period (2019-2024).

A significant percentage of the global population (middle age to older age) suffers from the dry eye disease.
Several manufacturers are exploring the alternative drug class or procedure, with improvement in diagnostic
tools, to identify and enhance the tear stimulating factors. The rise in geriatric population, technological
advancements (long exposures to computer and mobile screens causes DED) , and upcoming products are
expected to help in the growth of the market.

Source: The Ocular Surface April 2007 Vol 5, No 2 (www.ocularsurface.com)

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OUR TARGET MARKET FOCUS – SALES & MARKETING:

Our business model which we explained above is to out license the products to different manufacturers
around the globe. We will market ourselves as producer of ophthalmic medicine research center. Our
products will be available for private labelling by independent manufacturers. Our policy for out licensing
will be to get one exclusive partner in each of the countries of interest. Our chosen partner will be getting
exclusive rights from us to manufacture, market and distribute these product in this assigned country.

We studied the WHO reports on which regions will be most relevant for our products and would have most
potential.

SOURCE: National Center for Biotechnology Information (https://www.ncbi.nlm.nih.gov/)

Moreover, based on our market research which is presented in this business plan and strength of our equity
partner we decided to focus on the following target market for the first 5 years of our operations.

Asia: Countries of interest will be Pakistan, Sri Lanka, Malaysia, Vietnam, Philippines & Indonesia

Africa: Countries of interest will be Kenya, Uganda, Tanzania, Nigeria and South Africa

Competitive landscape: We can look at competition in two ways. Firstly, similar companies who have based
their R&D centers in developed countries like UK and who are offering ophthalmic products for private
labelling in the countries mentioned above. And secondly we will have local competition of other generic
products in the countries of our interest targeting the same indications. We have studied both areas and our
financials in this business plan reflect those competitive landscapes. We have been very conservative in our
market share and growth estimates. Remington, our main shareholder, is already an established company in
Asia and Africa and has a very strong network of doctors who are committed to prescribe their products
because of the well-known quality of the products produced.

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There are a few Indian and Bangladesh pharmaceutical companies who have more or less similar model to
what we plan to establish. Two companies with similar business model (minus the competitive advantages
which we have mentioned below) are Aristo Pharma and Entod Research Cell (ERC).

However our competitive advantage is going to be

1. Focus on very few therapeutic classes

2. Focus not only on reformulation but also collaborations with academia and research centers on new
drug discovery
3. Focus on customized product development based on the demographics and genomic research on
the population of our target markets

We have carefully selected our target markets where we see gaps in competition service and product
delivery. We plan to succeed by filling up those gaps by building our competitive advantages as mentioned
above.

FACILITIES, OPERATIONS & MANAGEMENT STAFF:

LOCATION: As the host to leading global universities and the finest scientific talent, the UK is a world–leading
location for diverse and innovative research and development (R&D). Cambridge has been described as
the beating heart of research and science in the UK today. In April this year, AstraZeneca marked a key
milestone with the ‘topping out’ of its new state-of-the-art, strategic R&D Centre and global corporate
headquarters at the heart of the Cambridge Biomedical Campus (CBC).

We believe Cambridge offers a tremendously vibrant academic and life-sciences ecosystem that can truly
catalyze discovery and innovation.

PREMISES: We are looking to lease a minimum of 5000sft and maximum of 10,000sft of built space suitable for
our R&D center. As it would be hard to find a purpose built premises (though we would try to find one where
minimum adjustments are needed) there will be adjustments required in our leased building to suit our
operational needs and in the financials we have included the cost to do just this.

EQUIPMENT: The list of equipment required for our operations is attached as Exhibit 1. This is not an exhaustive
list of equipment needed for our operations. We will add onto the equipment as and when needed.

RAW MATERIALS: The list of raw material required for our operations is attached as Exhibit 2. This is not an
exhausted list of all the raw materials we will need for product development. As per requirements, we will
keep adding to this list.

ORGANIZATION CHART: The organizational chart for first 5 years of operations is attached as Exhibit 3. We are
going to start with (and stay) a lean management and expand our human resource as our business grows.
We are going to start with a force of 9 people. The Director R&D and Director Marketing will be the founding
members of the organization, along with the third partner i.e. Remington Pharma.

As it is a start-up the salaries of the Directors have been kept at GBP 30,000 pa for the first few years as they
will benefit from the value increase of the company. We will go without the support HR/admin functions for
the time being as this role will be handled partly by the Manager R&D.

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 SR # DESIGNATION QUALIFICATION EXPERIENCE SALARY PA (GBP)

1 Director R&D PHD 45+ Years 30,000

2 Director Marketing PHD 25+ years 30,000
3. Manager R&D Masters in Chemistry, 5+ 30,000
Pharmacy or
Microbiology
4. Analytics &Research Masters in Chemistry, 2+ 22,000
scientists Pharmacy or
Microbiology
5. Product development Masters in Chemistry, 2+ 22,000
scientist Pharmacy or
Microbiology

DIRECTOR’S PROFILES: The profiles of the directors are attached as Exhibit 4.

FIRST YEAR – STARTING THE OPERATIONS: Our R&D Director will focus on the operations of the R&D center and
bring out at least 3 products in the first year; One product each in the classes which we are focusing on. Our
partner, Remington, is already working on reformulating some products and these will be passed on to the
new start up to take off.

While our Director marketing will focus on attending exhibitions and conferences in these countries to get
ourselves introduced to the market players in these countries. In Pakistan we already have a great
advantage as our main equity partner, Remington Pharma, is an established manufacturer and marketer of
ophthalmic products in the country. Using the strength of our partner, we will be connected to other such
leading manufacturers & marketers in the above mentioned countries.

5 YEARS SALES PROJECTIONS:

Based on our market research and as described above the methodology of country selection, we have
taken the following assumptions to determine the market size of our products.

MARKET SIZING: We have taken the populations of our target markets and researched the prevalence rates
of Glaucoma, retinal diseases and dry eye diseases from WHO and other such reports. The prevalence rates
of these diseases give us an idea of how many people are suffering from these conditions. We calculate our
target market population by multiplying the total population with the prevalence disease rates and keep it
on conservative sides. Then we check the average per annum spending of a person in those markets on eye
health care and keep it on conservative side to calculate GBP value of our target market. For Asian targeted
countries we have taken $5 pa per person spent on eye care related to our products and for African
countries we have taken $2 pa per person. We believe these are realistic assumptions and it leads us to our
target market size of $1.7 billion pa. The table on the next page shows the list of the targeted countries with
their total population along with our market entry plans & size of target population.

MARKET ENTRY: We will enter the markets of Pakistan, Sri Lanka, Kenya and Uganda. The reason for
choosing these markets for first year entry is because our main equity partner, Remington, has a strong
foothold in these markets. In the meanwhile, we will be attending exhibitions and conferences in our target
markets to identify potential manufacturing and distribution partners for our cutting edge products.

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 MARKET SIZING DISEASE PREVALENCE (ON AVERAGE)

MARKET ENTRY POPULATION YEAR OF ENTRY GLAUCOMA RETINAL DED

(MILLIONS) DISEASES
1 2 3 4 5 THE BELOW PERCENTAGES SHOW THE PREVALENCE RATE OF
RESPECTIVE DISEASES IN THE MENTIONED REGIONS AS PER WHO
REPORTS.
ASIA
PAKISTAN 204 ✔
INDONESIA 269 ✔
VIETNAM 97 ✔ 3.10% 7.20% 33.00%
PHILIPPINES 108 ✔
SRI LANKA 21 ✔
MALAYSIA 32 ✔
TOTAL POPULATION 731 MN 22.66 MN 52.63 MN 241.23 MN

AFRICA

NIGERIA 200 ✔
KENYA 52 ✔
UGANDA 45 ✔ 4.32% 3.70% 16.30%
TANZANIA 61 ✔
SOUTH AFRICA 58 ✔
TOTAL POPULATION 416 MN 17.97 MN 15.39 MN 67.81 MN

PRODUCT LAUNCHES & MARKET SHARE PLAN:

As mentioned in this business plan above, PRODUCT LAUNCH PLAN

we are going to focus on three therapeutic
classes in ophthalmology for this business, PRODUCTS YR YR YR YR YR
which are as follows: 1 2 3 4 5

1. Anti- Glaucoma ANTI-GLAUCOMA

2. Retinal diseases
3. Dry Eye Diseases Generation of Ideas 10 10 15 15 15
Pre- Launching Assessment 8 8 10 10 10
The market sizing based on market
Laboratorial Development 3 3 4 4 4
research and selection of our target
countries has been explained. Also the Development of Technology 3 3 3 3 3
assumptions used for calculating the target Registration (Pipeline Products) 2 2 2 2 2
market size exactly in our target countries
has been explained above. Launch 1 1 1 2 2
RETINAL DISEASES
The table on our right side shows how we
are going to manage our product Generation of Ideas 15 15 20 20 20
launches. At the end of the day, we are Pre- Launching Assessment 12 12 16 16 16
going to be a R&D center and our success
Laboratorial Development 4 5 5 5 5
and our competitive advantages are
going to come from the quality of our Development of Technology 4 5 5 5 5
products. Towards this purpose, we are Registration (Pipeline Products) 3 4 4 4 4
going to follow are process which is
explained in the table to the right. We will Launch 1 2 2 2 2
follows the 5 step process before launch DRY EYE DISEASES
and manage this pipeline on yearly and
Generation of Ideas 10 10 15 15 15
five year projection basis. Our budgeting

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 and our financials which we have given in Pre- Launching Assessment 8 8 10 10 10
the next section start from how many
Laboratorial Development 3 3 4 4 4
products we are going to launch and in
which therapeutic class. Development of Technology 3 3 3 3 3
Registration (Pipeline Products) 2 2 2 2 2
As a general rule, we are going to make
sure that our idea generation is at least 10 Launch 1 0 1 1 1
times of the number of products we plan to Total Launch 3 3 4 5 5
launch.

Market share assumptions have been kept to very conservative and realistic number. While Remington, our
main equity partner, is maintaining a leadership position with more than 20% market share in our relevant
therapeutic classes in Pakistan, we have targeted to take only 2% of the market share in second year with
our cutting edge new reformulated products. By year six of starting our business, we are targeting 7% of the
market share. Which is very much achievable and our partner has seen this growth in the targeted countries.

INITIAL INVESTMENT: A mentioned earlier, we are going for a minimum of 5000sft and maximum of 10,000sft
of built space for our operations. Also we have provided the list of equipment and raw material in the Exhibits.
The initial investment is laid out as follows:

1. Lease cost of building: GBP 30,000 pa

2. Plant & Machinery including renovations: GBP 300,000
3. Year zero salaries and admin expenses: GBP 200,000 pa
4. Inventory: GBP 50,000 for starting the operations
5. R&D expense: GBP 500,000 pa
6. Marketing expense: GBP 100,000 pa
7. Total initial investment: GBP 1,180,000

Our major investment is going to be on R&D of course and it will continue and increase over the years. This
requires us to invest in our collaborators, do research publications, attend conferences and invest in
promising academia research.

EQUITY PARTNERS: There are going to be three shareholders in the new company. The two directors, Mr Faisal
Khokhar & Mr Abdul Qadeer Khokhar and Remington Pharmaceuticals. The main equity partner will be
Remington Pharma. The equity table will be as follows:

Shareholder Status Equity

Mr Faisal Qadeer Khokhar CEO & Shareholder 5%
Mr Abdul Qadeer Khokhar Director & Shareholder 5%
Remington Pharmaceutical Equity investor 90%
Total 100%

CASH FLOW PROJECTIONS: The detailed cash flow projections are given in Exhibit 6.

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EXHIBIT 1 – EQUIPMENT & PLANT

OPHTHALMIC PRODUCTS RESEARCH & DEVELOPMENT CENTER - [SELECT DATE] 16

 SR. EQUIPMENT NAME MAKE ID # LOCALITY PREVENTIVE
NO MAINTENANCE
FREQUENCY

1. OSMOMAT 3000 GENOTEC 0S-023 RND

BIANNUAL

2. VISCOMETER BROOKFIELD BROOKFIELD VM-024 RND

ANNUAL

3. AUTOCLAVE LOCAL AC-015 RND

ANNUAL

4. HOT AIR STERILIZER MEMMERT HAS-013 RND

BIANNUAL

5. LAMINAR FLOW CABINET TECHNICO LFC-037 RND

ANNUAL

6. MULTIFUNCTIONAL SD-II STC MM-022 RND BIANNUAL

7. OVEN (TV-200) MEMMERT OT-011 RND BIANNUAL

8. OVEN (TV-200) MEMMERT OT-012 RND BIANNUAL

9. SILVERSON MANUFACTURING VESSEL LOCAL SM-021 RND BIANNUAL

10. ULTRA TURAX HOMOGENIZER IKA UTH-018 RND BIANNUAL

11. ELECTRONIC WEIGHT BALANCE CHYO EWB-005 RND

QUARTERLY

12. DIGITAL VERNIER CALLIPER MITUTOYO DV-019 RND

ANNUAL

13. HOT PLATE STIRRER NICKEL HPS-002 RND BIANNUAL

14. HOT PLATE MAGNETIC STIRRER M-TOPO HMS-003 RND BIANNUAL

15. MECHANICAL STIRRER DIGITEK QC/EQ-32 RND

BIANNUAL

16. PH METER METTLER TOLEDO PM-004 RND

QUARTERLY

OPHTHALMIC PRODUCTS RESEARCH & DEVELOPMENT CENTER - [SELECT DATE] 17

 17. REFRIGERATOR A DAWLANCE RA-008 RND ANNUAL

18. THERMOHYGROMETER TH-017 A RND NOT

HTC-2 APPLICABLE

19. THERMOHYGROMETER TH-017 B RND NOT

HTC-2 APPLICABLE

20. THERMOHYGROMETER 91996-MONOPLUS NOT

REFRIGERATOR A HTC-2 RND APPLICABLE

21. VACUUM/PRESSURE PUMP MILLIPORE VP-020 RND BIANNUAL

22. DATA LOGGER ELITECH DL-039 RND NOT

APPLICABLE

23. FBD LOCAL RND-001 OSD ANNUAL

OPHTHALMIC PRODUCTS RESEARCH & DEVELOPMENT CENTER - [SELECT DATE] 18

 R&D CENTER EQUIPMENT – QUALITY SECTION

SR. PREVENTIVE
EQUIPMENT NAME MAKE ID # LOCALITY
NO MAINTENANCE
FREQUENCY

1. HPLC (SHIMADZU) SHIMADZU QC/EQ-80 RND

QUARTERLY

2. STABILITY CHAMBER (THERMOLAB) THERMOLAB SC-006 RND BIANNUAL

3. STABILITY CHAMBER (BINDER) BINDER SC-007 RND BIANNUAL

4. STABILITY CHAMBER (BINDER) BINDER SC-008 RND BIANNUAL

5. STABILITY CHAMBER (BINDER) BINDER SC-009 RND BIANNUAL

6. HPLC (SHIMADZU) SHIMADZU QC/EQ-102 RND

QUARTERLY

7. REFRIGERATOR B DAWLANCE RB-009 STABILITY CHAMBER ROOM ANNUAL

THERMOHYGROMETER 9166-WB NOT

8. STABILITY CHAMBER ROOM
REFRIGERATOR B HTC-2 APPLICABLE

9. STABILITY CHAMBER (BINDER) BINDER QC-EQ-132 STABILITY CHAMBER ROOM BIANNUAL

10. STABILITY CHAMBER (BINDER) BINDER QC-EQ-133 STABILITY CHAMBER ROOM BIANNUAL

11. STABILITY CHAMBER (BINDER) BINDER QC-EQ-134 STABILITY CHAMBER ROOM BIANNUAL

OPHTHALMIC PRODUCTS RESEARCH & DEVELOPMENT CENTER - [SELECT DATE] 19

 EXHIBIT 2 – RAW MATERIALS AND SUPPLIERS

MATERIAL NAME SUPPLIER ORIGIN SUPPLIER ADDRESS

ACICLOVIR / RECORDATI INDUSTIA ITALY VIA MEDIANA CISTERNA, 404011 CAMPOVERDE DI APRILIA (LT),
ACYCLOVIR CHIMICA E ITALY
FARMACEUTICAL S.P.A TEL: +39 06 92900010
ACECLOFENAC AMOLI ORGANICS PVT INDIA PLOT NO. 322/4, 40 SHED AREA GIDC, VAPI-396 195 GUJARAT TEL:
LTD +91 260 2400383
ACEFYLLINE PIPERAZINE KORES (INDIA) LIMITED. INDIA PLOT NO. 58/1, 58/2, 59A, 65A,65B, 65C, 8-66A, MIDC INDUSTRIAL
AREA, DHATAV, ROHA, DIST- RAIGAD-402 116 TEL: +91 2194 263568
AC-DI-SOL (FMC) DUPONT NUTRITION IRELAND WALLINGSTOWN LITTLE ISLAND, CORK, IRELAND TEL: +35 321 435
(CROSCARMELLOSE IRELAND 4133
SODIUM)
AMBROXOL SIFAVITOR S.R.L ITALY VIA LIVELLI 1, 26852 CASALETTO LODIGIANO - FRAZ, MAIRANO (LO)
HYDROCHLORIDE TEL: +39 0371 739901
ANHYDROUS LANOLIN I.P ROLEX LANOLIN INDIA PLOT NO. 6309 PHASE IV, G.I.D.C VAPI-396195, GUJARAT TEL:+91
PRODUCTS LTD. 260 2342233
CARBOMER / COREL PHARMA- INDIA NR. RAILWAY CROSSING THOL ROAD KADI - 382 715 (MEHSANA)
ACRYPOL 974P CHEM GUJARAT
TEL:+91-2764-242235, 312425
CARBOMER / COREL PHARMA- INDIA NR. RAILWAY CROSSING THOL ROAD KADI - 382 715 (MEHSANA)
ACRYPOL 980 CHEM GUJARAT
TEL:+91-2764-242235, 312425
KANDIVALI(W), MATHURADAS RD, HEMU COLONY, BHAGAT
IPCA LABORATORIES
ARTEMETHER INDIA COLONY, KANDIVALI WEST, MUMBAI, MAHARASHTRA 400067,
LTD
TEL:+91 22 2868 8566
CRYSTAL PHARMA PARQUE TECNOLOGICO DE BOECILLO, PARCELA 105; 47151
ALCAFTADINE SPAIN
S.A.U BOECILLO VALLADOLID TEL: +34 983 548072

OPHTHALMIC PRODUCTS RESEARCH & DEVELOPMENT CENTER - [SELECT DATE] 20

 HENAN PURUI
ATROPINE SULFATE/ YEZHUANG BRIDGE, XIHUA COUNTY, HENAN PROVINCE TEL :+86-
PHARMACEUTICAL CO CHINA
ATROPINE SULPHATE 371-67896933 67896833
LTD.
AVICEL RC-581 DUPONT NUTRITION WALLINGSTOWN LITTLE ISLAND, CORK, IRELAND TEL: +35 321 435
IRELAND
(DISPERSIBLE CELLULOSE) IRELAND 4133
MICROCRYSTALLINE
CELLULOSE MINGTAI CHEMICAL 1142, SHIN HSING RD, BAH-DER CITY,TAOYUAN HSIEN, 33452
TAIWAN
(M101D+)/(AVICEL PH- CO LTD. TEL:+886-3-368-2295
101)
JRS PHARMA GMBH & D-73494 ROSENBERG, HOLZMUHLE 1.
GERMANY
CO. TEL: +49 0 7967 152-0

MICROCRYSTALLINE
MINGTAI CHEMICAL 1142, SHIN HSING RD, BAH-DER CITY, TAOYUAN HSIEN, 33452
CELLULOSE TAIWAN
CO LTD. TEL:+886-3-368-2295
(M102D+)/(AVICEL PH-
102)
JRS PHARMA GMBH & D-73494 ROSENBERG, HOLZMUHLE 1.
GERMANY
CO. TEL: +49 0 7967 152-0
EVERLIGHT CHEMICALS
12, INDUSTRIAL THIRD RD, KUANYIN INDUSTRIAL DISTRICT, KUANYIN
BIMATOPROST INDUSTRY TAIWAN
HSIANQ,TAOYUAN HSIEN. TEL: +886 02 2706 6006
CORPORATION
VIA PARCO DEL TICINO, 10-27100 SAN MARTINO SICCOMARIO
NEWCHEM S.P.A ITALY
(PV) TEL: +39 0258 1516
XELLIA (TAIZHOU)
108 BINHAI ROAD 318000 JIAOJIANG DISTRICT TAIZHOU ZHEJIANG
BACITRACIN ZINC PHARMACEUTICALS CHINA
PROVINCE TEL: +86 576 888270
CO LTD
M/S. JOYANG HAIDU NORTH ROAD, SHEYANG ECONOMIC DEVELOPMENT ZONE
CHINA
LABORATORIES YANCHENG, JIANGSU 224300, TEL: 8651585502055
CHANGZHOU
SUNLIGHT JIULISTREET, BENNIU TOWN CHANGZHOU, JIANGSU PROVINCE,
BENZOCAINE CHINA
PHARMACEUTICAL CO TEL: 0086-519-83139028
LTD.
WUHAN YOUJI 10 GONGNONG ROAD, QIAOKOU DISTRICT WUHAN, HUBEI 430035
BENZOIC ACID POWDER CHINA
INDUSTRIES CO LTD. TEL：+86 027 83853277

BENZALKONIUM
FRANKFURTER STRAßE 250 64293 DARMSTADT
CHLORIDE / MERCK KGAA GERMANY
TEL: +49 (0) 6151 72-0
ALKYL BENZYL DIMETHYL
AMMONIUM CHLORIDE
UNITII, 61-B, BOMMASANDRA INDESTERIAL ARERA BANGALORE-560
BEPOTASTINE BESILATE BAL PHARMA LIMITED INDIA
099.TEL: +91-80-41570814

R-92/93, KILOLAB FIRST FLOOR TTC MID AREA, RABELA, NEW

BESIFLOXACIN INDOCO REMEDIES MUMBAI 400701 MAHARASHRTRA TEL: +91 22 2769 3300
INDIA
HYDROCHLORIDE LTD.

BETA CAROTENE 10% DSM NUTRITIONAL SWITZERLA GLOBAL QUALITY MANAGEMENT P.O BOX 2676, 4002 BASEL
(VITAMIN A) PRODUCTS LTD N TEL:+41 31 322 02 11

BASF-THE CHEMICAL P.O BOX 236 MALMPARKEN 5 DK-2750 BALLERUP TEL: +45 44
DENMARK
COMPANY 730100
SHI JIA ZHUANG NANNIU VILLAGE ZHENGDING COUNTY, SHIJIAZHUANG CITY, HEBEI
BETAHISTINE
ZHENG HE CHEMICAL CHINA PROVINCE. CHINA
DIHYDROCHLORIDE
TECHNOLOGY CO LTD. TEL: +86-571-89936035 +86-571-88853602
PLAT NO: 5, 6, 7& 8, SPECIAL ECONOMIC ZONE, PHASE II
BETAMETHASONE SYMBIOTIC
INDIA PHARMAZONE, PITHAMPUR DISTT DHAR-454 774 INDORE (M.P).
SODIUM PHOSPHATE PHARMALAB LTD.
TEL:+91-07292-256777
BORAX /
FRANKFURTER STRAßE 250 64293 DARMSTADT
DI-SODIUM TETRABORATE MERCK KGAA GERMANY
TEL.: +49 (0) 6151 72-0
DECAHYDRATE)

OPHTHALMIC PRODUCTS RESEARCH & DEVELOPMENT CENTER - [SELECT DATE] 21

 FRANKFURTER STRAßE 250 64293 DARMSTADT
BORIC ACID POWDER MERCK KGAA, GERMANY
TEL: +49 (0) 6151 72-0
PLOT NO. 25/B, PHASE III, IDA, JEEDIMETLA, HYDERABAD, 500055,
BRIMONIDINE TARTRATE
SYMED LABS LIMITED INDIA TELANGANA
TEL: +91 40 23191337
KILOLAB, R-92, 93, TTC MIDC AREA, THANE- BELAPUR ROAD,
BROMFENAC SODIUM INDOCO REMEDIES
INDIA RABALE,NAVI MUMBAI-400 701, MAHARASHTRA TEL: +91 22
SESQUIHYDRATE LTD
27693300
YONSUNG FINE SOUTH 207 SUJEONG-RO, JANGAN-MYEON, HWASEONG-SI, GYEONGGI-
CHEMICALS CO, LTD KOREA DO, 18581, REPUBLIC OF KOREA TEL: +82 31 351 6622
A-26, A-27, A-28/1, A-28/2, MIDC, INDUSTRIAL AREA PATALGANGA,
INDOCO REMEDIES
BRINZOLAMIDE INDIA VILLAGE KAIRE, TALUKA-KHALAPUR, RAIGAD MAHARASHRTRA 410
LTD
220 TEL: +91 2192 251215
DELVES ROAD, HEANOR GATE
CALCIUM D DSM NUTRITIONAL HEANOR, DERBYSHIRE
UK
PENTOTHENATE PRODUCTS LTD. DE75 7SG,ENGLAND
TEL: +44 1773 536 500
JIANGXI SYNERGY
FENGXIN INDUSTRIAL PARK, FENGXIN, JIANGXI 330700. TEL: +86 795
CELECOXIB PHARMACEUTICAL CHINA
4605771
CO., LTD
207/208 UDYOG BHAVAN, SONAWALA ROAD GOREGOAN [E],
CETIRIZINE SUPRIYA LIFESCIENCE
INDIA MUMBAI – 400 063.
DIHYDROCHLORIDE LTD.
TEL: +91-22-40332727.
WUHAN WUYAO NO. 18, WANGFEN ROAD, FUCHI TOWN, YANGXIN COUNTRY,
CHLORAMPHENICOL
PHARMACEUTICAL CO CHINA HUANGSHI CITY, HUBEI PROVINCE
BASE
LTD. TEL: +86-027-83835948
MEHTA UNIT NO. II, KOPRI VILLAGE NAKA, VEER SAVARKAR MARG,
PHARMACEUTICAL INDIA CHANDANSAR VIRAR (E), 401305, DIST: PALGHAR, MAHARASHTRA
INDUSTRIES. STATE. TEL: +91-22-66926545.
CHLORPHENARMINE
207/208 UDYOG BHAVAN, SONAWALA ROAD GOREGOAN [E],
MALEATE / SUPRIYA LIFESCIENCE
INDIA MUMBAI – 400 063.
CHLORPHENIRAMINE LTD.
TEL: +91-22-40332727 .
MALEATE
CITRIC ACID WEIFANG ENSIGN NO. 1567, CHANGSHENG STREET, CHANGLE, WEIFANG 262499,
CHINA
MONOHYDRATE INDUSTRY CO, LTD SHANDONG TEL: +86 536 62987627

COPPER OXIDE / CUPRIC FRANKFURTER STRAßE 250 64293 DARMSTADT

MERCK KGAA GERMANY
II OXIDE POWDER TEL: +49 (0) 6151 72-0

FRANKFURTER STRAßE 250 64293 DARMSTADT

CREATININE MERCK KGAA GERMANY
TEL: +49 (0) 6151 72-0
DI-SODIUM
CAMBREX VIA EUGENIO CURIEL, 34 20067 PAULLO-MILANOTEL: +39 02 34 59
CROMOGLYCATE ITALY
PROFARMACO S.R.L. 881
(CROMOLYN SODIUM)
FERMION OY HANKO PLANTORIONINKATU 2
FERMION OY FINLAND
FI-10900HANKO FINLAND TEL: +358 10 4261
SY. NO. 317 & 323, RUDRARAM (VILLAGE), PATANCHERU
DAPAGLIFLOZIN
MSN LABORATORIES INDIA (MANDAL), MEDAK DISTRICT, TELANGANA, 502 329. TEL: +918455-
PROPANEDIOL
305619.
NO. 407, DALAMAL HOUSE, J BAJAJ ROAD, NARIMAN POINT,
AMOLI ORGANICS
DICLOFENAC POTASSIUM INDIA MUMBAI - 400021, NCPA MARG, NARIMAN POINT, MUMBAI,
LTD.
MAHARASHTRA 400021, TEL: +91 22 2285 4715
DEXAMETHASONE ZHEJIANG XIANJU NO.1 XIANYAO ROAD, XIANJU COUNTY TAIZHOU, ZHJ 317300
CHINA
(MICRONIZED) PHARMA CO LTD. TEL: +86-576-87731138
ZHEJIANG XIANJU
DEXAMETHASONE
JUNYE NO.1 LINGXIU ROAD, MODERN INDUSTRIAL CENTRALIZATION ZONE,
SODIUM PHOSPHATE CHINA
PHARMACEUTICALS XIANJU, TAIZHOU, ZHEJIANG TEL: +86 576 87750166
CO., LTD.
DIBASIC CALCIUM SUDEEP PHARMA 129/1/A, GIDC ESTATE, NANDESARI-391 340 VADODARA, GUJARAT
INDIA
PHOSPHATE DIHYDRATE LIMITED TEL: +91 265 2840656

NO. 407, DALAMAL HOUSE, J BAJAJ ROAD, NARIMAN POINT,

AMOLI ORGANICS
DICLOFENAC SODIUM MUMBAI - 400021, NCPA MARG, NARIMAN POINT, MUMBAI,
LTD. INDIA
MAHARASHTRA 400021, TEL:+91 22 2285 4715

OPHTHALMIC PRODUCTS RESEARCH & DEVELOPMENT CENTER - [SELECT DATE] 22

LIDOCAINE HCL / UNIQUE INDUSTRIAL ESTATE, PRABHADEVI, MUMBAI,
APEX HEALTHCARE
LIGNOCAINE HCL INDIA MAHARASHTRA,
LTD.
TEL: +91 22 2431 4815
HARMAN FINOCHEM PLOT NO. E-7, E-8 & E-9, M.I.D.C INDUSTRIAL AREA, CHIKALTHANA,
LINAGLIPTIN INDIA
LIMITED AURANGABAD-431006. TEL:+91-240-6601320.

S.NO. 33/1-A. PLOT NO.1 KHATODRA BEHIND SUB-JAIL SURAT-395

002.
LATANOPROST VIRDEV INTERMEDIATES
INDIA TEL: +91-22-40560560
PVT LTD.
UDYOG KSHETRA, 2ND FLOOR, MULUND GOREGAON LINK ROAD,
LOTEPREDNOL AARTI INDUSTRIES
INDIA MULUND (WEST), MUMBAI - 400080, MAHARASHTRA,
ETABONATE LIMITED.
TEL: +91-22-6797 6666
KANDIVALI(W), MATHURADAS RD, HEMU COLONY, BHAGAT
IPCA LABORATORIES
LUMEFANTRINE INDIA COLONY, KANDIVALI WEST, MUMBAI, MAHARASHTRA 400067,
LTD.
TEL:+91 22 2868 8566
SHAANXI BAOXIN CAIJIAPO ECONOMIC & TECHNICAL DEVELOPMENT ZONE,
MEFENAMIC ACID PHARMACEUTICAL CHINA QISHAN COUNTRY, SHAANXI PROVINCE, 722405 CHINE
CO., LTD. TEL:+86-917-2968776
207/208 UDYOG BHAVAN, SONAWALA ROAD GOREGOAN [E],
PYRILAMINE MALEATE / SUPRIYA LIFESCIENCE
INDIA MUMBAI – 400 063.
MEPYRAMINE MALEATE LTD.
TEL: +91-22-40332727
PRECISE
C-384, TTC INDUSTRIAL AREA, MIDC, PAWNE VILLAGE, NAVI-
NAPHAZOLINE HCL CHEMIPHARMA PVT INDIA
MUMBAI 400 703 TEL: +91 222 7617550
LTD
YICHANG SANXIA NO. 8 ZIVANG ROAD, DIANJUN, DISTRICT, YICHANG CITY, HUBEI
NEOMYCIN SULPHATE PHARMACEUTICAL CHINA PROVINCE, P.R CHINA.
CO., LTD TEL: 86-717-6271076FAX: 86-717-6264046
PIONEER AGRO
INDUSTRIES PLOT NO-6,7,7,20 & 24 M.I.D.C. AREA, POST KULGAON, BADLAPUR-
NEPAFENAC INDIA
(PHARMACEUTICAL 421503, SIDT-THANE, MAHARASHTRA TEL:+
DIVISION)
JINAN KEHUI
ADD:NO.21 HUAXIN ROAD JINAN CITY CHINATEL:+86-531-88068199
PHARMACEUTICAL SCI CHINA
85316368 88060762, FAX:+86-531-88069199
& TECH. CO., LTD
ZHEJIANG NEO-
DANKONG NO.259 BINHAI ROAD, YANTOU JIAOJIANG DISTRICT, TAIZHOU
NORFLOXACIN CHINA
PHARMACEUTICAL CITY, ZHEJIANG, P.R. TEL: +86 0576 88582525
CO, LTD
PLOT NO.198 MIDC, TARAPUR DIST- THANE, MAHARASHTRA TEL: +91
NIMESULIDE AARTI DRUGS LIMITED INDIA
2525 2711699
333, JIANGNAN ROAD, HENGDIAN, DONGYANG, ZHEJIANG,
ZHEJIANG APELOA
322118,
KANGYU
OFLOXACIN CHINA TEL: +86-571-56809788, 56809738 FAX: +86-571-88889988, 56808388
PHARMACEUTICAL CO
LTD.
MEDIGRAPH
PLOT NO. J-46/57, M.I.D.C. TALOJA, DISTRICT RAIGAD
OLOPTADINE HCL PHARMACEUTICALS INDIA
MAHARASHTRA TEL:+ 91 22 27410064
PVT. LTD.
OPADRY COMPLETE FILM FLAGSHIP HOUSE. VICTORY WAY, CROSSWAYS, DARTFORD, KENT
COLORCON LIMITED. UK
COATING SYSTEM 02 DA2 6QD ENGLAND.
F240040 PINK
CENTURY
OXYTETRACYCLINE 406, WORLD TRADE CENTRE, SAYAJIGUNG, VADODARA 390005
PHARMACEUTICAL INDIA
HYDROCHLORIDE GUJARAT INDIA TEL:0091 2652361581
LTD.
RUA 17, 200, DUQUE DE CAXIAS - RJ,
ORPHENADRINE CITRATE NORTEC QUIMICA, BRAZIL
TEL:+55 21 2679-1615

METHOCEL E-4 M 2020 DOW CENTER

DDP SPECIALTY
PREMIUM/HYDROXYPROP USA MIDLAND, MICHIGAN 48674
ELECTRONIC MATER
YL METHYLCELLULOSE TEL:1-800-447-4DOW (4369)

NAOETSU PLANT QUALITY ASSURANCE DEPARTMENT 28-1

PHARMACOAT NISHIFUKUSHIMA, KUBIKI-KU, JOETSU-SHI, NIIGATA,
M/S. SHIN-ETSU JAPAN
(HYPROMELLOSE) GRADE
CHEMICAL CO LTD.
606

OPHTHALMIC PRODUCTS RESEARCH & DEVELOPMENT CENTER - [SELECT DATE] 23

 NO.43 DAKENG ROAD, TONGLE VILLAGE, LONGGANG DISTRICT,
SHENZHEN ORIENTAL
PHENYLEPHERINE HCL CHINA SHENZHEN,P.R. ZIP: 518116
PHARMA CO LTD.
TEL :0755 - 84890915;
UNICHEM PLOT NO. 197, SECTOR-1, PITHAMPUR, DIST-DHAR-454775
INDIA
LABORATORIES LTD. MADHYAPRADESH TEL: +91 7292 416600

PHENYL ETHYL ALCOHOL FRANKFURTER STRAßE 250 64293 DARMSTADT

MERCK KGAA, GERMANY
/ 2 PHENYL ETHANOL TEL: +49 (0) 6151 72-0
PHENYLMERCURIC
FRANKFURTER STRAßE 250 64293 DARMSTADT
NITRATE MERCK KGAA, GERMANY
TEL: +49 (0) 6151 72-0
STABILIZER P.M.N
PHOSPHONIC ACID
SOLUTION (DIETHYLENE
SIGMA-ALDRICH USA 3050 SPRUCE STREET, SAINT LOUIS MO 63103 TEL: +1 800 325 3010
TRIAMINE PENTA
METHYLENE)/DTPMPA

ADANI PHARMACHEM PLOT NO2729 TO 2731, ROAD 1-1 LODHIKA G I D C VILLAGE

PIPERAZINE CITRATE INDIA
(PVT) LTD. METODA, TAL LODHIKA DIST: RAJKOT 360021,
TEL:+91 281 238 7652
SHANGHAI YUKING
POVIDONE / POLYVINYL ROOM 802C-1, NO. 570, RD. SHENGXIA, ZHANGJIANG HIGH-TECH
WATER SOLUBLE
PYRROLIDONE PVP-K30 CHINA PARK, PUDONG NEW DISTRICT, SHANGHAI,
MATERIAL TECH CO,
(WATER SOLUBLE) TEL: +86 21-68286299
LTD.
4501 ATTWATER AVENUE & STATE HIGHWAY 146 TEXAS CITY, TX
POLYVINYL 77590 U.S.A
ISP TECHNOLOGIES
PYRROLIDONE USA TEL: +1 859 815 3333
INC.
(PVP)/PLASDONE C-15

HANGZHOU
866#, MOGANSHANLU, HANGZHOU, 310011 CHINA. TEL:+86-571-
POLYMYXIN B SULPHATE ZHONGMEI HUADONG CHINA
89903310
PARMA CO LTD.
XELLIA
PHARMACEUTICALS DENMARK 11 DALSLANDSGADE PO BOX 1736 DK-2300 COPENHAGEN S
APS
PLAT NO: 5, 6, 7& 8, SPECIAL ECONOMIC ZONE, PHASE II
PREDNISOLONE ACETATE SYMBIOTIC
INDIA PHARMAZONE, PITHAMPUR DISTT DHAR-454 774 INDORE (M.P).
MICRONIZED PHARMALAB LTD.
TEL:+91-07292-256777
HENAN LIHUA
MIDDLE OF HUANGHE STREET ,ANYONG HI-TECH INDUSTRY
PHARMACEUTICAL CHINA
DEVELOPMENT ZONE, HENAN TEL: +86 372 2595136
CO., LTD.
59, YOU SHIH ROAD, YOUTH INDUSTRIAL DISTRICT, DAJIA,
SODIUM STARCH YUNG ZIP CHEMICAL
TAIWAN TAICHUNG, 43767, R.O.C.
GLYCOLATE /PRIMOJEL IND CO, LTD
TEL: +886-4-2681-8780/ 2681-1674
THIOMERSAL / FRANKFURTER STRAßE 250 64293 DARMSTADT
MERCK KGAA. GERMANY
THIMEROSAL TEL.: +49 (0) 6151 72-0
PLOT 3 & 4, PHARMA CITY, SLAQUI, DEHRADUM-248 197
INDIA GLYCOLS
THIOCOLCHICOSIDE INDIA UTTARKHAND TEL: +91 135 2698620
LIMITED

PLOT NO.19 & 20/2, M.I.D.C. AREA VILLAGE DHATAV, ROHA-402

TIMOLOL MALEATE FDC LTD. INDIA
116, DIST.-RAIGAD, MAHARASHTRA, INDIA.
PRECISE
C-384, TTC INDUSTRIAL AREA, MIDC, PAWNE VILLAGE, NAVI-
CHEMIPHARMA PVT INDIA
MUMBAI 400 703 TEL: +91 222 7617550
LTD.
TITANIUM DIOXIDE / FRANKFURTER STRAßE 250 64293 DARMSTADT
MERCK KGAA, GERMANY
TITANIUM IV OXIDE TEL.: +49 (0) 6151 72-0
LIVZON NEW NORTH
RIVER REMIN ONE ROAD QINGYUAN GUANGDONG PROVINCE CHINA
TOBRAMYCIN BASE CHINA
PHARMACEUTICAL TEL:+86 763 3865303
CO. LTD
TRIAMCINOLONE PLAT NO: 5, 6, 7& 8, SPECIAL ECONOMIC ZONE, PHASE II
SYMBIOTIC
ACETONIDE INDIA PHARMAZONE, PITHAMPUR DISTT DHAR-454 774 INDORE (M.P).
PHARMALAB LTD.
MICRONIZED TEL:+91-07292-256777
TRI-SODIUM CITRATE
MERCK KGAA, GERMANY FRANKFURTER STRAßE 250 64293 DARMSTADT TEL.: +49 (0) 6151 72-0
ANHYDROUS

OPHTHALMIC PRODUCTS RESEARCH & DEVELOPMENT CENTER - [SELECT DATE] 24

TRI-SODIUM CITRATE
MERCK KGAA, GERMANY FRANKFURTER STRAßE 250 64293 DARMSTADT TEL.: +49 (0) 6151 72-0
DIHYDRATE
MEDIGRAPH
PLOT NO. 1-46/57 M.I.D.C. TALOJA, DISTRICT, RAIGAD, INDIA TEL:
TROPICAMIDE PHARMACEUTICAL INDIA
+91 22 61066600
PVT. LTD.
33 RIVESIDE AVENUE RENSSELAER, NEW YORK 12144, TEL: 800-770-
TYLOXAPOL AMRI RENSSELAER INC USA
6926

EXHIBIT 3 – ORGANIZATIONAL CHART

CEO & DIRECTOR

DIRECTOR R&D
MARKETING

MANAGER R&D (1)

PRODUCT
RESEARCH
DEVELOPMENT
SCIENTISTS (2)
SCIENTISTS (2)

EXHIBIT 4 – DIRECTORS PROFILES

CEO & DIRECTOR MARKETING – DR FAISAL QADEER KHOKHAR:

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Dr. Faisal Khokhar holds Master Class from Harvard Kennedy School, prestigious management master
program Sloan Masters from London Business School and a Ph.D. from Manchester Business School. An
experienced global leader, having a diverse experience in Europe and Asia, Dr Khokhar has supported
businesses in established and emerging markets. Enhancing business processes is his forte. As a strategist with
global capability, he has designed and delivered consistent results in global marketplace in the areas of
Business Intelligence, Sales Force Automation, and HR systems.

Dr. Khokhar has held positions of increasing responsibility in Remington Pharmaceuticals, the latest being
Director. He has played a primary role in revamping the HR systems and procedures to be in line with the
current industry best practices. He also serves as Executive Vice President of KOBEC Health Sciences. KOBEC
Health Sciences, an entrepreneurial venture of Dr Khokhar, was started fifteen years ago during his PhD years.
His interest in transformational leadership paved the way to add a new dimension to the family business of
Remington and setup the new organization on modern lines. KOBEC in a short span of time has made a mark
under his leadership and has grown significantly over the years. New business opportunities are being
explored to take KOBEC to the next level.

Dr Khokhar is a partner at de Khon Global, a private equity firm based out of London. de Khon Global invests
in well-positioned companies which have strong product line and operational and strategic improvement
potential. As a business model de Khon only hires MBAs from top US and EU B-schools as CEOs for the
companies it invests in.

Dr. Khokhar is the Honorary Consul of The Republic of Kenya, Punjab. His main tasks as the Honorary Consul
include enhancement of bilateral relations in areas such as trade, economy, culture and science between
Kenya and Pakistan. He also provides assistance and advice to increase the economic and trade
cooperation to facilitate the expansion of business between Pakistan and Kenya. Another important aspect
is to extend support for the development of international relations, improving the representation and
perception of the interests of Kenya and providing assistance and consular protection for Kenyan citizens
and institutions.

Along with corporate and diplomatic responsibilities, he also serves as Visiting Professor at The Stockholm
School of Economics (SSE), Member Syndicate University of Vet. Sciences, visiting professor LUMS, Head
Examiner of CSS examination for Business Administration, and many other honors.

He is Executive Council Member Pakistan German Business Forum, Member of Pakistan France Business
Alliance, Member Inter-University Faculty Board for All Public and Private Universities in Punjab, Member
National Curriculum Revision Committee (Business Management) Higher Education Commission-Islamabad,
Member Academic Council G. C. University-Lahore, Chairman, Board of Studies, Management Studies
Department, G. C. University-Lahore and Member Board of Selection and Curriculum Development
Committee, NUST, Rawalpindi.

DIRECTOR R&D – DR ABDUL QADEER KHOKHAR:

Dr. Khokhar did his PhD in Pharmacy from King’s College London (UK). After completing his B. Pharm from the
University of Punjab, he completed his M. Pharm from the University of Wales. He pursued his Doctorate at
King's College London, where he joined the Research Group of Professor Arnold H. Beckett, an eminent
scientist of world repute. His outstanding contributions during and after his Ph.D. were greatly appreciated
by his co-researchers and he also authored several research papers in international journals. Currently he is
a Member Board of Studies, Faculty of Pharmacy, and University of The Punjab.

OPHTHALMIC PRODUCTS RESEARCH & DEVELOPMENT CENTER - [SELECT DATE] 26

 He is recognized as one of the most eminent pharmacists in Pakistan. Until recently he was a Member Board
of Management, Pakistan Drugs Testing and Research Center (a Government of Punjab undertaking), which
is an independent contract research organization carrying out drugs testing and
bioavailability/bioequivalence (BA/BE) studies and providing clinical, analytical and bio analytical chemistry
services. He was also a member of the Expert Panel (Ministry of Health, Pakistan) for inspection of
bioequivalence centers.

He has been Former Member Committee for Monitoring Drugs Sector (CMDS), Board of Governors of Pakistan
Medical Research Council (PMRC), the Central Pharmacy Council, the Governing Council of Pakistan
Council of Scientific and Industrial Research (PCSIR). He is also the Chairman of Remington Pharmaceuticals.
He has been elected Chairman of Pakistan Pharmaceutical Manufacturer's Association (PPMA) twice and
has been the President of Pakistan Pharmacist Association (PPA), Punjab.

He represented PPMA on the Registration and Licensing Boards, Ministry of Health, Pakistan. Dr. Khokhar has
spoken at numerous national and international conferences and has taught at various universities including
the University of London (UK).

EXHIBIT 6 – FINANCIAL PROJECTIONS

MARKET SHARE TARGET

REGION Market Market Share Countries Market Share Royalty Revenues

Share in % in % Launched in £ (Quarterly)
(Yearly) (Quarterly)
ASIA &
AFRICA
YR 1 Q1 0.15% 0.36 798,363 15% 119,754

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 Q2 0.20% 0.36 1,064,484 15% 159,673
Q3 1.00% 0.25% 0.36 1,330,605 15% 199,591
Q4 0.40% 0.36 2,128,967 15% 319,345
YR 2 Q1 0.19% 0.64 1,746,419 15% 261,963
Q2 0.25% 0.64 2,328,558 15% 349,284
1.25%
Q3 0.31% 0.64 2,910,698 15% 436,605
Q4 0.50% 0.64 4,657,116 15% 698,567
YR 3 Q1 0.23% 0.82 2,694,474 15% 404,171
Q2 0.30% 0.82 3,592,632 15% 538,895
1.50%
Q3 0.38% 0.82 4,490,791 15% 673,619
Q4 0.60% 0.82 7,185,265 15% 1,077,790
YR 4 Q1 0.30% 1.00 4,390,995 15% 658,649
Q2 0.40% 1.00 5,854,660 15% 878,199
2.00%
Q3 0.50% 1.00 7,318,325 15% 1,097,749
Q4 0.80% 1.00 11,709,321 15% 1,756,398
YR 5 Q1 0.38% 1.00 5,488,744 15% 823,312
Q2 0.50% 1.00 7,318,325 15% 1,097,749
2.50%
Q3 0.63% 1.00 9,147,907 15% 1,372,186
Q4 1.00% 1.00 14,636,651 15% 2,195,498

OPHTHALMIC PRODUCTS RESEARCH & DEVELOPMENT CENTER - [SELECT DATE] 28

CASHFLOWS YR 0 YR 1 YR 2 YR 3 YR 4 YR 5
Operations
Cash receipts from
Revenues (Royalty) - 798,363 1,746,419 2,694,474 4,390,995 5,488,744
Cash paid for
Research & Development (500,000) (500,000) (500,000) (700,000) (800,000) (1,000,000)
Salaries & Wages (178,000) (178,000) (200,000) (233,100) (279,300) (279,300)
Inventory (50,000) (50,000) (51,000) (52,020) (53,060) (54,122)
Licensing & Registration Fee (5,000) (5,000) (5,100) (5,202) (5,306) (5,412)
Misc. Expenses (1,000) (1,000) (1,020) (1,040) (1,061) (1,082)
Accountant fees (250) (250) (255) (260) (265) (271)
Solicitor fees (500) (500) (510) (520) (531) (541)
Advertising & marketing (100,000) (200,000) (204,000) (208,080) (212,242) (216,486)
Bank fees & charges (150) (150) (153) (156) (159) (162)
Office supplies (100) (100) (102) (104) (106) (108)
Utilities (electricity, gas, water) (6,000) (6,000) (6,120) (6,242) (6,367) (6,495)
Telephone (500) (500) (510) (520) (531) (541)
Rent and Rates (800) (800) (816) (832) (849) (866)
Travelling & Conveyance (700) (700) (714) (728) (743) (758)
Repairs & maintenance (1,700) (1,700) (1,734) (1,769) (1,804) (1,840)
Stationery & printing (500) (500) (510) (520) (531) (541)
Membership & affiliation fees (3,000) (3,000) (3,060) (3,121) (3,184) (3,247)
Insurance (1,200) (1,200) (1,224) (1,248) (1,273) (1,299)
Entertainment Expenses (600) (600) (612) (624) (637) (649)
Net Operations (850,000) (151,637) 768,979 1,478,386 3,023,047 3,915,022
Investing Activities
Cash paid for
Purchase of ,Property and (300000)
equipment
Net Investing (300,000) 0 0 0 0 0
Financing Activities
Cash paid for
Repayment of Lease Obligation (30,000) (20,000) (20,000) (20,000) (20,000) (20,000)
Net Cash Financing (30,000) (20,000) (20,000) (20,000) (20,000) (20,000)
Cash at End of Year (1,180,000) (171,637) 748,979 1,458,386 3,003,047 3,895,022

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