ScinoPharm Taiwan, Ltd. (stock code: 1789) has announced that the company's consolidated revenue for the first half of 2023 was NT$1.403 billion, the after-tax net profit was NT$99 million, and the net profit margin was 7%. The company's overall business development is in line with customers' deadlines and demand for products, as well as the company's internally planned production schedules. Most of the company’s revenue will be realized in the second half of the year, and the company will make steady progress throughout the entire year.
The pharmaceutical industry and market are undergoing rapid changes, and generic drugs are undergoing fierce competition. Accordingly, ScinoPharm Taiwan, Ltd. is continuing to leverage the company's overall resilience and actively engaging in investments and deployment in multiple areas. These include the optimization, renovation, and expansion of production capacity in factories, further improvements to the company's capabilities in its core competency of APIs and generic drugs, and further product development in preparations for injection. In the first half of the year, ScinoPharm Taiwan, Ltd. completed the factory and equipment renovation project, which has allowed the company to turn a new page in improving its production capacity and strengthening its market competitiveness. In terms of the company's contract development and manufacturing business, ScinoPharm Taiwan, Ltd. has provided customers with expert professional services over the years that fulfill their demands. Since last year, the company has helped its customer receive permits and marketing authorization for hereditary epilepsy drugs in the U.S. and Europe. As for drugs to treat heart failure, the customer received FDA approval in May. These achievements are expected to bring significant income to ScinoPharm Taiwan, Ltd. ScinoPharm's Changshu subsidiary received a compound drug license in China in February for its drug to treat glaucoma. The license for the drug is expected to be received later this year in China, and this will benefit the company's sales volumes. For other indications, such as drugs for late-stage liver and thyroid cancers as well as high blood pressure, they are included in the coverage of medical insurance in China, therefore there is a chance of maintaining or even increasing the company's customers' market share. This is expected to have a positive effect on the Changshu subsidiary's revenues.
ScinoPharm Taiwan, Ltd. has enjoyed good results in its preparations products recently. Currently, the preparations for injection that customers have contracted ScinoPharm to produce are gradually becoming ready for shipping, which indicates that the injectable production plant is entering the commercial mass production phase. There are also other contract manufacturing projects that are currently in the production preparation and discussion phases. The company will continue to work closely with customers to ensure a stable product supply, and contract manufacturing is expected to bring stable profits and revenues. Regarding the drug license applications for the company's injectable products, ScinoPharm Taiwan, Ltd. submitted the marketing registration documents for the company's first self-produced injector pen product in late June. To date, four ANDA applications have been submitted for the company's self-produced injectable products, indicating that the company is making continued progress toward improving its selection of preparations products. Additionally, the company also submitted another API DMF in early July. ScinoPharm Taiwan, Ltd. continues to strengthen its API production capabilities and implement the planned production of its products. The company's contract development and manufacturing business is focusing on steroids, simple molecule drugs, and peptide drugs, which are the company's specialties. For the development of preparations products, the company is endeavoring to combine its complex preparations products and customers' specialties in order to succeed in both the company's self-developed preparations and contract development and manufacturing for customers. These developments will benefit the company's scale and profits.