ScinoPharm’s Revenues Hit New Highs in 2011
ScinoPharm Taiwan, Ltd. (TWSE1789) a leading global supplier of active pharmaceutical ingredients (APIs), announced unaudited revenues totaling NT$3.948 billion for 2011, and before-tax net profits of NT$1.124 billion, for an EPS of $1.82. It was another record performance in terms of revenues and the company has remained profitable for the last six years.
President and CEO Dr. Jo Shen of ScinoPharm commented that the company obtained 587 drug master files (DMF) in 2011, of which 41 were U.S. DMF. This achievement topped all API manufacturers nation-wide, and when compared to international stand-alone API producers, ScinoPharm holds the largest number of registered U.S. DMF in the oncological field with 19.
ScinoPharm’s top five products account for 70% of total revenues in 2011. The new antidepressant of contract manufacturing product, Vilazodone, produces no side effects as with similar drugs, and was successful after the U.S. launch. Demands for Vilazodone far exceeded expectations and shows immense growth potential. Another one of the company’s top products is Galantamine HBr, used in Alzheimer treatments. This product has been registered in 36 countries and captured nearly 50% market share worldwide last year. The other three products are all oncological APIs, which include Docetaxel Anhydrous, Irinotecan HCL, and Paclitaxel, capturing a 36%, 44%, and 21% share of the world market, respectively, and have secured leadership positions in their respective fields.
Explorations in the emerging markets are starting to materialize for the company. India, for example, supplies 22% of the world’s generic drugs, and accounts for the largest number of DMFs passed by the FDA per year outside U.S. territory. ScinoPharm made its venture into India as early as 2006, eyeing entry into the highly regulated markets in Europe and America. Eight out of India’s top ten pharmaceutical companies are ScinoPharm’s customers. The company expects to grow its customer base to beyond 42, and increase revenues from India by 35% to account for 20% of total revenues during this year.
In order to accommodate the rapid growth in production orders, ScinoPharm has undertaken major steps toward capacity expansion. Two large production lines are being added at the moment, with one more dedicated to producing steroids, and are scheduled for completion and to commence production sometime in the third quarter. The first phase of the Changshu site in Jiangsu, China, is completed, and production pilot-runs for intermediates began at the end of last year. The smaller GMP-certified API plants are scheduled to commence batch production during the first quarter, while the second phase of the company’s major API plant is currently under construction and is scheduled for completion by the end of this year.
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About ScinoPharm Taiwan
ScinoPharm Taiwan, Ltd. is a leading process R&D and API manufacturing service provider to the global pharmaceutical industry. With research and manufacturing facilities in both Taiwan and China, ScinoPharm offers a wide portfolio of services ranging from custom synthesis for early phase pharmaceutical activities to brand companies as well as APIs for the generic industry. For more information, please visit the Company's website at www.scinopharm.com.
Media Contact:
Sabrian Wu
TEL: +886-6-508-2869
Mobile Phone: +886-920-056-385
Email: sabrina.wu@scinopharm.com.tw