This year, Formosa Biomedical has accelerated its efforts to internationalize its brand. Under the leadership of Chairperson Sandy Wang, nearly 20 products across five major brands of the company’s beauty and personal care lines have successfully entered markets in Malaysia, Vietnam, and the United States. The company aims to achieve its revenue target of 10 billion NTD as soon as possible.
General Manager Hui-Chi Liu stated that Formosa Biomedical, excluding its 17 subsidiaries, had a revenue of approximately 3.15 billion NTD in 2023. Branded products accounted for about half of the company's performance. The five major brands include Dr's Formula for personal care, BioLead for household products, FORTE for premium skincare, DF Clinic for dermocosmetics, and MD Formula for health supplements.
Chairperson Sandy Wang previously mentioned that Formosa Biomedical has developed expertise in six major fields: lifestyle, biology, biochemistry, medical, pharmaceuticals, and medical materials. The company has established a comprehensive biotech presence in Taiwan. Hui-Chi Liu further explained that during the past 20 years of growth, the focus has been on the lifestyle, biology, and biochemistry sectors, laying a solid foundation.
This year, internationalizing the brand has become the company's primary development goal. Nearly 20 products from the five major brands have recently obtained sales permits in Malaysia, Vietnam, and the United States. In the U.S., products are first being distributed through Amazon, followed by physical retail channels. In Malaysia and Vietnam, Formosa Biomedical’s products are available both online and in stores.
Beyond the five major brands, Formosa Biomedical has also seen steady success in exporting high-tech products such as diagnostic reagents, eye drops, and orthopedic medical materials. Liu pointed out that Formosa Biomedical holds a 90% market share for drug testing kits in Taiwan, a 70% market share for pregnancy tests, and a 40-50% market share for flu tests, leading the domestic market in all three categories. Additionally, the company's COVID-19 rapid test, developed during the pandemic, is one of the few officially licensed products in Taiwan.
Having established a strong foundation in the domestic market, Formosa Biomedical has been exporting biochemical diagnostic reagents and HIV test kits to Indonesia for many years. Nasopharyngeal cancer test kits have been shipped to Hong Kong and Singapore. Drug testing kits are also exported to Japan. Since Q3 last year, the company has produced over 2 million COVID-19 and flu combination test kits for Japanese clients.
In terms of more advanced pharmaceuticals and medical materials, Formosa Biomedical has collaborated with Kaohsiung Chang Gung Memorial Hospital to develop Atropine eye drops, targeting the pediatric myopia market. These drops have been successfully exported to Hong Kong, Macau, Singapore, and Malaysia. Additionally, the company’s implantable artificial bone materials have entered the U.S. market, continuously expanding their influence in the international arena.
Resource (mandarin): 台塑生醫國際化 跨大步
