ScinoPharm Taiwan (stock code 1789) announced consolidated revenue of NT$3.186 billion, net profit after tax of NT$287 million, and earnings per share (EPS) after tax of NT$0.36.
In 2023, ScinoPharm Taiwan continued its planned production and sales of main APIs to support the shipment of core products. The Company's primary business remains the sales of generic APIs. The CDMO business continued to post profits, particularly drugs used in the treatment of late-stage liver cancer, thyroid cancer, and prostate cancer, as well as antidepressants and epilepsy drugs, which have demonstrated significant demand and boosted revenue and gross profit margin. The CDMO business has progressively entered various developmental stages; in December 2023, a clinical Phase III product which obtained drug license approval from the US FDA moved to commercial stage, while a new clinical Phase II product was also added. Meanwhile, ScinoPharm Taiwan continued to invest in the optimization and upgrading of its factories in Tainan and Changshu, allowing the Company to refine its production skills and capabilities, as well as reinforce its commercial competitiveness. Furthermore, ScinoPharm Taiwan is capable of accommodating customers' diverse needs and capitalizing on business opportunities.
In terms of injectable business expansion, five ANDAs have been submitted for the proprietary injection products, and one product has already received ANDA approval from the US FDA. One liquid injectable product is expected to receive ANDA while one prefilled syringe product and two injector pens are under review. The Company is proactively responding to the ANDA review in the hope of expediting the certification process. In addition to proprietary products, OEM products also commenced mass production in 2023 and began to contribute to the Company's revenue. Moreover, the scope of collaborative products and OEM services continues to be expanded.
The subsidiary SciAnda (Changshu) effectively increased its production competitiveness and turned losses into profits in 2023 by seizing business opportunities, optimizing the production process, and strengthening operating expense management. In the future, SciAnda (Changshu) will continue to bolster the development of proprietary products and place priority on investing in the development of complex APIs or highly active products. As the CDMO service gradually reaches mass production and customers' collaborative products acquire marketing authorization, they are expected to benefit the Company's operations.
ScinoPharm Taiwan will continue to maintain its niche in generic APIs and vigorously invest in compounded peptides with high technological barriers and fortify the field of CDMO. In terms of the preparation business, the Company will utilize its diverse API product line to focus on the development of complex injectables, as well as expand its product line and engage in CDMO according to customer requirements. The aim is to enhance the benefits of vertical integration in a bid to increase profit margins.