ScinoPharm Taiwan (stock code 1789) announced consolidated revenue of NT$3.264 billion for 2022, up 18% over the previous year, and net profit after tax of NT$353 million, up 45% over the previous year, with after-tax earnings per share of NT$0.45. In the face of changes in the external environment caused by the pandemic control, geopolitics, and macro-economic variables, ScinoPharm Taiwan continues to assess its strengths, make good use of them to cope with the changes in the environment, and actively invest in its three core businesses to gradually bring about vertical integration from APIs to pharmaceutical preparations.
ScinoPharm Taiwan continues to devote itself in generic drug API business. With the integration capabilities accumulated over the years in process technology development, commercial mass production, and high standard GMP-compliant manufacturing capabilities, as well as its flexibility and stability in supply, ScinoPharm Taiwan is able to meet customers' demand for API products and therefore, enjoy a comfortable level of revenue and profit.
In 2022, ScinoPharm Taiwan made significant achievements in several cancer drugs and hypertension drugs. In terms of OEM businesses of research and manufacturing, we have provided continuous professional services and supply support to our customers over the years and have assisted many of them in obtaining drug licenses and launching their products in Europe, the United States and China.
In 2022, increased demand for prostate cancer drugs, Alzheimer’s disease drugs, blood cancer drugs and advanced liver cancer drugs was the main reason for the revenue growth of ScinoPharm Taiwan and ScinoPharm Changshu. Drugs for epilepsy and for advanced liver cancer as well as thyroid cancers are also expected to continue to contribute to the revenue of ScinoPharm Taiwan and ScinoPharm Changshu in 2023.
There were also several developments in the pharmaceutical preparations business. ScinoPharm Taiwan exclusively supplied APIs and participated in the profit sharing for the three anti-cancer pharmaceutical preparations in collaboration with customers that were licensed and launched in 2022, which led to a double-digit growth in the revenue of our pharmaceutical preparations business for the year.
In March and October 2022, our injectable medicine plant underwent the pre-approval on-site audit from the FDA for its prefilled syringe and aquapuncture products and lyophilized dried injectable products, and was approved by the FDA for both products. The plant achieved zero deficiencies in the second audit and started the commercial mass production of the OEM preparations products, which is expected to lead to an increase in our preparation’s OEM revenue in 2023.
We have already submitted three ANDA applications for our self-developed injectable products, which are in the final stage before FDA approval with the supplementary data for reply being prepared. Once the first self-made prefilled syringe product is licensed, it will be launched with the assistance of our sales partners, bringing more revenue to ScinoPharm Taiwan's pharmaceutical preparations business.
ScinoPharm Taiwan is focusing on complex injectable and peptide compound medicines, with several products under development and on schedule. We shall continue to enrich our pharmaceutical preparations product line and to leverage the benefits of vertical integration to drive further growth in the Company's business scale through its pharmaceutical preparations business.