ScinoPharm Taiwan Maintains Stable Operations, Actively Expands into Formulation Development and CDMO Business

ScinoPharm Taiwan (Stock Code: 1789) held an investor conference today to report on its 2024 operational performance and business developments. The company achieved a consolidated annual revenue of NT$3.406 billion, marking a moderate 7% growth. Net profit after tax reached NT$339 million, reflecting an 18% year-over-year increase, with earnings per share (EPS) rising to NT$0.43.

ScinoPharm Taiwan and its subsidiary, SciAnda (Changshu), continued making steady progress across various business sectors, each achieving notable milestones. In terms of proprietary products, ScinoPharm Taiwan continues to strengthen its injectable product portfolio, adhering to its long-standing vertical integration strategy. The product pipeline covers treatments for cancer, hematologic diseases, metabolic disorders, and central nervous system disorders. Leveraging its expertise in active pharmaceutical ingredients (APIs) and formulation development, the company has successfully integrated some products with medical devices to create high-end complex drug formulations. One of the company's key areas of focus is GLP-1 peptide drugs, which have increasingly become the mainstream treatment for diabetes and obesity. With the originator companies driving this market to a scale of several billion dollars and maintaining strong double-digit growth momentum, the future potential of GLP-1 drugs is highly promising. This development provides ScinoPharm Taiwan with significant growth opportunities moving forward. Additionally, to maximize market reach for its injectable products, ScinoPharm Taiwan is planning strategic expansions into markets beyond the United States. Beyond generic drugs, ScinoPharm Taiwan is actively investing in modified new drug development. By forming complementary strategic partnerships, such as its recently announced collaboration with Handa Pharma, the company aims to leverage the exceptional product development expertise and commercialization capabilities of these new partners. This alliance is expected to enhance ScinoPharm Taiwan's competitive edge in the modified new drug market and open new growth opportunities.

In terms of proprietary APIs, ScinoPharm Taiwan has been deeply engaged in the fields of oncology and central nervous system diseases for many years, supplying APIs for numerous frontline therapies. Its product strength and quality have earned long-term trust across the globe. With a stable supply capacity, ScinoPharm Taiwan plays a crucial role in the dynamic pharmaceutical supply chain, helping its formulation clients to expand into different regional markets and diversify their product applications across multiple indications.

Another key area of growth for ScinoPharm Taiwan is its contract development and manufacturing organization (CDMO) business, which has delivered impressive results. It has achieved double-digit growth for four consecutive years, with annual revenue exceeding $30 million, providing strong momentum for the company's future development. Leveraging its expertise in product development and manufacturing, ScinoPharm Taiwan offers integrated services covering API and formulation production, providing one-stop solutions for new drug clients. The company continues to expand its partnerships in its specialized fields, including peptides, steroids, and cytotoxic products. For commercialized products that have already entered the market, ScinoPharm Taiwan ensures compliance with international standards through its integrated service offerings. Driven by growing market demand, several international collaborations are currently being negotiated or have already moved into concrete implementation stages.