On May 30, TTY Biopharm held its annual shareholders' meeting, where General Manager Ching-Lan Hou outlined the company's ongoing commitment to three core strategies: the export of complex generics, licensing of new drugs, and the development of domestically manufactured new drugs. Hou noted that TTY Biopharm currently holds a 35% market share in the self-funded vaccine sector and aims to increase the share of adjuvanted flu vaccines among the elderly.
Hou reported that in 2023, TTY Biopharm achieved annual revenues of NT$5.5 billion, marking an 8.8% year-over-year increase, with earnings per share at NT$4.54. The meeting also approved a cash dividend of NT$3.5 per share.
Hou attributed the company's strong performance last year to its three core strategies and ongoing internationalization efforts. The export of complex generics saw significant success, with Lipo-AB performing exceptionally well in the U.S. market. The company continues to optimize production processes and expand capacity. The second strategy, licensing new drugs, included the launch of the world's first targeted therapy for bile duct cancer, which has been incorporated into Taiwan's national health insurance, benefiting bile duct cancer patients. Additionally, the quadrivalent flu vaccine, known for its superior protection, achieved record-high sales in the self-funded market.
Hou elaborated that there are two types of self-funded flu vaccines: the quadrivalent cell-based vaccine and the adjuvanted flu vaccine introduced last year. Currently, TTY Biopharm's self-funded vaccine market share is around 35%. However, the adjuvanted vaccine, primarily used by those aged 65 and older, still has a lower market share. The company aims to expand its participation in public flu vaccine tenders to increase this share.
Looking ahead, Hou expressed optimism about the opportunities in 2024. With precision medicine becoming a trend and the government's recent inclusion of next-generation gene sequencing in health insurance coverage, TTY Biopharm will continue to push its three core strategies: exporting complex generics, licensing new drugs, and developing domestically manufactured new drugs. These efforts are expected to drive further growth and unlock new potential.
Resource (mandarin)
