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The ongoing U.S.-China trade war has led to a major reshuffling in various industries. Seizing the opportunity presented by the U.S. "Biosecurity Act," Taiwan's biotech industry is experiencing a surge in establishing manufacturing plants in the United States. Companies like Bora Pharmaceuticals, Formosa Laboratories, and ICARES Medicus are leading the charge through acquisitions, while Taiwan Biomaterials is participating in the Discovery Oasis project in Phoenix. The initial investment wave is estimated to start at NT$8 billion, setting a new record for Taiwanese biotech investment in the U.S.
Bora Pharmaceuticals spearheaded this movement by announcing in January its acquisition of the 100-year-old American pharmaceutical company Upsher-Smith (USL) for $210 million (approximately NT$6.6 billion). This acquisition is expected to ensure Bora Pharmaceuticals’ continued revenue growth, potentially positioning it as the leader in biotech stocks.
On June 1, Formosa Laboratories quietly announced on its official website that it had completed the acquisition of Synchem, located in the suburbs of Chicago. The company will operate under the new name SynChem-Formosa. Originally a manufacturer of active pharmaceutical ingredients (APIs), TaiMed has recently expanded into the injectable drug market and is one of the first companies in Taiwan to enter the field of antibody-drug conjugates (ADCs). ADC-related business now accounts for 20-30% of its contract development and manufacturing organization (CDMO) revenue. To meet future demand, TaiMed expanded its ADC production capacity fivefold last year, with completion expected in the third quarter of this year. This expansion will help the company grow its market share in the U.S. and attract more Chinese companies to develop drugs in America.
Additionally, in April, ICARES Medicus announced the acquisition of Millennium Biomedical, Inc. (MBI) for $25.65 million (approximately NT$812 million). Nanobiomed plans to adopt a dual-brand strategy to expand its global market presence. Founded in California in 1997, MBI specializes in the research, development, manufacturing, and sales of aspheric intraocular lenses. Its products, which include single-focus and single-focus astigmatism lenses, are manufactured in the U.S. and certified by the European Union. They are sold globally.
Taiwan Biomaterials stands out by participating in the Discovery Oasis project in Phoenix, Arizona. This biotech corridor spans 120 acres and focuses on regenerative medicine, medical technology equipment, and medical AI big data platforms. The first phase of the project is expected to be completed by the first half of 2027, with a total investment estimated at $750 million. Taiwan Biomaterials has been designated as an anchor firm, collaborating with Taiwan's regenerative medicine supply chain to build the first facility in the park, aiming to create a leading global hub for the cell therapy industry.
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