Today (23rd), PET Pharm Biotech will hold a pre-IPO briefing and is scheduled to list on the Emerging Stock Market at a reference price of NT$28 per share on Thursday (25th). PET Pharm Biotech is the first nuclear medicine manufacturer in Taiwan to receive dual certification from the Ministry of Health and Welfare and the Atomic Energy Council, and also the first to enter the capital market. General Manager Terry Lin is optimistic about the company's revenue and profit growth in the coming years, driven by strong demand for FDG and FBB.
Last year, PET Pharm Biotech reported total revenue of NT$118 million and a net profit of NT$9 million, with both revenue and profit showing significant growth, resulting in earnings per share of NT$0.31. This year, the company will distribute cash dividends for the first time. Terry Lin explained that the optimization of FDG production and transportation for cancer diagnostics last year boosted FDG growth and further contributed to revenue. He is also optimistic about the strong demand for FDG and FBB in the coming years, expecting further growth in revenue and profit.
PET Pharm Biotech's main products include PIC/GMP sterile formulations, molecular imaging drugs (radiopharmaceuticals), and sales. The company has obtained six radioactive drug licenses from the Taiwan FDA for cancer diagnostic products.
PET Pharm Biotech has four main drugs that have received licenses, including [Fluorine-18] Fluorodeoxyglucose Injection (FDG), which is used to assess glucose metabolism in the heart, lungs, and brain, as well as for cancer diagnosis, staging, and treatment monitoring.
Additionally, FBB Injection can be used to estimate and quantify β-amyloid plaque deposition in the brain, aiding in the diagnosis of Alzheimer's disease and other causes of cognitive decline. PET Pharm Biotech noted that this drug is expected to see exponential growth following the launch of Leqembi in Taiwan this year.
[Fluorine-18] Sodium Fluoride Injection (NaF) is a PET radiopharmaceutical used for whole-body bone imaging, assessing and detecting skeletal trauma or disease. Another product, Iodine-131 Capsules, is used to detect the uptake and extent of iodine-131 by thyroid cells, helping diagnose thyroid cancer, thyroid cysts, and other conditions.
PET Pharm Biotech plans to invest NT$500 million to build a new factory in Miaoli. Terry Lin explained that the new Miaoli factory will have three times the production capacity for Fluorine-18 products compared to the Xinzhuang factory. For new product capacity, the Xinzhuang factory currently has only three production lines, which must carefully manage cross-contamination when producing long half-life products. However, the Miaoli factory plans to have one production line dedicated to producing one type of drug, resulting in eight times the new product capacity compared to the Xinzhuang factory.
Regarding overseas expansion, Terry Lin stated that due to the nature of short half-life products, the primary market will remain in Taiwan. However, in ASEAN countries such as Vietnam, Thailand, and Indonesia, where the nuclear medicine industry is developing more slowly, the company does not rule out exporting entire plant capabilities to these countries to further capture business opportunities.
Resource (mandarin): 生技股添新兵！吉晟成首家進入資本市場的核子醫學藥廠
