The first-quarter revenue of biotech stocks has been released. Bora, the stock king, saw a 40% decrease in revenue due to no longer representing low-margin cancer drugs. In contrast, PEGAVISION, the stock runner-up, has set a new high for the same period in history, with an 18.2% increase in revenue. Contact lens companies generally performed well, with Xuan Yu in the beauty and health group increasing by 58.23% annually, and Grape King reaching a historic high for the same period with a 5.76% increase.
Bora, the stock king in the biotech sector, saw its revenue decline by 42.53% year-on-year in March to NT$752 million, and by 40.23% to NT$2.857 billion for the first quarter. This decline is attributed to Bora' cessation of sales representation for the low-margin cancer drug Paclitaxel PB Particles for Injectable Suspension 100mg since April last year. With Bora officially taking over an American pharmaceutical company, its revenue will be consolidated from April onwards, adding momentum.
Most contact lens companies reported impressive first-quarter revenues, setting historic highs. PEGAVISION, the runner-up in the biotech sector, achieved first-quarter revenue of NT$1.725 billion, an 18.2% increase year-on-year, setting a new high for the same period in history. Newly listed on the OTC market, Vizionfocus achieved first-quarter revenue of NT$768 million, also setting a new high for the same period in history with a growth rate of 50.9%. Visco Vision Inc. recorded first-quarter revenue of NT$815 million, a 55.2% annual increase, similarly reaching a new high for the same period in history. St. Shine Optical Co., Ltd. recorded first-quarter revenue of NT$1.1 billion, a decrease of 2.79% year-on-year.
Grape King achieved double-digit growth in March and first-quarter revenue, setting historic highs. March revenue reached NT$960 million, up 60.32% month-on-month and 1.72% year-on-year. First-quarter revenue reached NT$2.35 billion, a 5.76% increase year-on-year. With the onset of the industry's peak season in March, Shanghai Grape King, the brightest performer in the group, benefited from the integration of mainland China's distribution resources and the listing of new products such as the mainland version of Combe's on the market, driving a year-on-year revenue increase of 87.56% for the month. Supported by various factors such as contract manufacturing, proprietary brands, and channel expansion, the first-quarter performance grew by 85.63% compared to the same period last year. The parent company, Taiwan Grape King, saw a 4.87% year-on-year increase in March revenue. Compared to the high base period last year, subsidiary Grape King's first-quarter revenue remained flat.
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