ICARES Medicus is making significant strides in the Chinese market. On the 28th, the company announced that it had obtained a registration certificate for its "Preloaded Monofocal Intraocular Lens" and expects to receive a production license by the end of the year. The product is slated to hit the market by mid-next year, potentially boosting the company’s sales significantly. As for the company's operations in the second half of this year, the newly acquired U.S. firm MBI began contributing full revenue in August. With one-time expenses and investment losses from the second quarter no longer impacting finances, ICARES Medicus anticipates that August's revenue could set a new record, with third-quarter revenue also expected to reach new heights and profitability to rebound significantly.
ICARES Medicus has been working towards success in the Chinese market for several years, and is now on the brink of reaping the rewards. Earlier this year, in the first quarter, the company’s intraocular lens implantation system, "Twit BF," received both a medical device registration certificate and a production license, and it has since begun sales and promotional activities, including physician trials. On the 8th, the company announced that its preloaded monofocal intraocular lens "Twit MY18P" had also obtained a registration certificate, with plans to secure a production license by the end of the year. Following this, the company will commence production, stock preparation, and market promotion activities, with an official launch expected between the second and third quarters of 2025.
According to research, the global intraocular lens market was valued at approximately $1.3 billion in 2022 and is projected to exceed $1.8 billion by 2028. Analysts are optimistic that the launch of ICARES Medicus’s own brand of intraocular lenses in China next year will drive a significant increase in sales. Although China’s centralized procurement policies tend to keep prices low, the high entry barriers mean that the company could still achieve a gross profit margin of 40-50% for its medical devices.
Regarding the company’s operations in the second half of the year, the U.S. company MBI, which was acquired in July, has not yet fully contributed to revenue, but full revenue contribution is expected to begin in August, potentially leading to further growth and new revenue records. Profitability, which was affected in the second quarter by a one-time expense of NT$13 million related to a bonus plan for employees in Shanghai, as well as an unrealized investment loss of NT$4.63 million due to increasing its stake in YongHao from 40% to 60%, resulting in an earnings per share (EPS) of just NT$0.37, is expected to improve in the second half of the year alongside rising revenue.
Resource (mandarin): 奈米醫8月營收戰新高，品牌人工水晶體中國取證成功明年業績盼升
