On 20 December, Intech Biopharm Corporation announced that it has entered into a marketing agreement with one of the top five pharmaceutical distributors in Canada, and that its MDI SYN011 will be launched in North America and Canada, marking Intech Biopharm's first entry into the international market and capturing the future NT$1.2 billion market opportunity. The company will seize the market opportunity of NT$1.2 billion per year in the future.
Intech Biopharm said another MDI inhaler in the company's product line, SYN010 (欣必復), won the National Brand Yushan Award this year after being approved in Taiwan and Macau, and will gradually apply for approval in Southeast Asia and Hong Kong to continue its international expansion. The company's product line will gradually bear fruit and the outlook is promising.
The market for inhalants is huge. Visiongain estimates that the global inhalants market will reach NT$1.5 trillion by 2030 and is expected to grow at a CAGR of 5% from 2020-2030, with North America being the largest inhalants market in the world, and metered dose inhalants (MDIs) growing particularly fast.
SYN011, a salbutamol bronchodilator, has successfully tapped into Canada, which has solidified its base in North America. According to statistics, the annual demand for inhalers in Canada is nearly 10 million units, with a market size of around NT$1.2 billion.
Intech Biopharm is the only company in Taiwan and one of the few in the world with the capability to develop and manufacture MDI inhalers and provide CDMO services. Several of its MDI products have been successfully approved and will be marketed in Southeast Asia, Hong Kong, Macau, China and North America in the near future to generate revenue.
Intech Biopharm's first approved compound MDI inhaler product, SYN010, successfully received marketing approval in Taiwan and Macau last year and has applied for market access in the fast-growing ASEAN countries. According to IQVIA, the market size of the same MDI product as SYN010 will reach NT$450 million in Taiwan, NT$2.4 billion in ASEAN and NT$6.3 billion in China (2021). Meanwhile, the company has completed the Duasma clinical trial and submitted a marketing application to China's National Medical Products Administration (NMPA) in November.
