Vetnostrum Animal Health Co., Ltd. will be listed on the Taipei Emerging Stock Exchange on 24 March at a initial price of NT$26.6. Vetnostrum said that there will be at least five to ten new approvals this year, and the company will strive to achieve a new record high in revenue and profit, with export sales and pet drugs being the focus of its future operations.

Vetnostrum has the largest market share of economic animal drugs in China and will accelerate its operations in the future, aiming for double-digit revenue growth, said Chairman of Vetnostrum. 

Vetnostrum was established in 2016 when Yunghsin Group spent NT$620 million to acquire the foreign-owned plant, which was later merged with Yunghsin's animal pharmaceutical division and split. The Group holds 57% of the shares and is the largest corporate shareholder, followed by Mega Bank and E Sun FHC, each holding 3.02% and another shareholder 2.51%.

In terms of product portfolio, livestock accounted for 98% of revenue and pets accounted for 2%, while drug-containing therapeutic drugs and feed additives accounted for over 60% of revenue, and non-drug feed additives and pet health products accounted for over 30%. Last year's revenue was NT$1.185 billion and net income after tax decreased by 2.7% to NT$107 million, mainly due to the impact of rising raw material costs.

The company pointed out that the overall market for animal drugs in Taiwan is approximately $60 billion, of which $12 billion and $48 billion are for livestock and pets, respectively. They will start to invest in the pet products market in 2020, mainly because it is optimistic that the annual growth rate of pet products can reach 8% to 10%, which is better than the 3% to 4% for livestock.

The largest customer of Vetnostrum is BRI, an American biotech company, with which we export enzyme products to more than 10 countries. It is estimated that due to the resumption of business activities after the epidemic, the proportion of export sales will exceed 20%.