CEO of TTY Biopharm, Ms Sara Hou, said that the first of a series of complex generic drugs, Lipo-AB, a microlipid injection for the treatment of mycobacterial infections, will be officially sold to the United States from January next year, and with the subsequent export of other complex generic drugs to overseas, TTY expects to double its revenue in the next five years.

TTY Biopharm held an investor meeting yesterday, chaired by Chairman Chuan Lin and CEO Sara Hou. The profit growth was driven by the recognition of publicly funded flu vaccine sales and the recording of milestone payments in November. The cumulative net profit for the first 11 months of this year was NT$1.061 billion, an increase of 48%, and the EPS for the first 11 months was NT$4.27.

Lipo AB is expected to be launched in the US in January next year, but the business growth will be seen in 2024, said Hou. In addition to the US launch, Lipo-AB will also enter the Korean market next year, she added. She said she expects TTY's revenue to double in the next five years as it develops a range of complex generic drugs for overseas markets.

It is estimated that the US market for Lipo AB's microlipid injection is around US$140 million, and that TTY should have the opportunity to capture a 10% market share in the future. In addition, Lipo AB will be officially knocking on the door of the European Union from next year, hoping to obtain drug license in three continents in the future and capture the global market of over US$400 million.

Lin mentioned that although Lipo-AB is the second generic drug to be marketed in the US, the recent surge in raw materials and the subsequent entry of competitors into the market will be a challenge for the company, but Lipo-AB is expected to boost its overall overseas revenue from 6% this year to 7-8% next year.

The new antibiotic antibacterial drug distributed by Everest Medicines is expected to be licensed in the second quarter of next year. In addition, the new generation sedative and anaesthetic drug, which is exclusively distributed, will be marketed on a paid-for basis, and the biliary tract cancer drug is expected to obtain health insurance prices next year.

According to the company's analysis, TTY's annual revenue for next year is expected to grow by 5%-10% compared to this year, while the company's profit for next year will only grow slightly due to the milestone of over $80 million already recognized this year.