I'll share a method that i've used for years that performs a similar functionality. User clicks item from dropdownlist and some text gets inserted at the caret of a textbox.
function insertAtCaret(areaId, ddlID) {
var ddl = $find(ddlID);
var text = ddl.get_value();
var txtarea = document.getElementById(areaId);
var scrollPos = txtarea.scrollTop;
var strPos = 0;
var br = ((txtarea.selectionStart || txtarea.selectionStart == '0') ? "ff" : (document.selection ? "ie" : false));
if (br == "ie") {
txtarea.focus();
var range = document.selection.createRange();
range.moveStart('character', -txtarea.value.length );
strPos = range.text.length;
}
else if (br == "ff")
strPos = txtarea.selectionStart;
var front = (txtarea.value).substring(0, strPos);
var back = (txtarea.value).substring(strPos, txtarea.value.length);
txtarea.value = front + text + back;
strPos = strPos + text.length;
if (br == "ie") {
txtarea.focus();
var range = document.selection.createRange();
range.moveStart('character', -txtarea.value.length);
range.moveStart('character', strPos);
range.moveEnd('character', 0);
range.select();
}
else if (br == "ff") {
txtarea.selectionStart = strPos;
txtarea.selectionEnd = strPos;
txtarea.focus();
}
txtarea.scrollTop = scrollPos;
}