Bora Pharmaceuticals, the leader in biotech stocks, is facing challenges in reaching its revenue target of 20 billion yuan. The company’s U.S. sterile injection and filling plant (Baltimore plant), which was acquired earlier, has been undergoing a two-month maintenance and upgrade plan since November, resulting in a complete production halt. As a result, Bora’s consolidated revenue for November dropped to 1.68 billion yuan, a 19.61% decrease from the previous month but a 49.06% increase from the previous year. The cumulative consolidated revenue for the first 11 months reached 17.27 billion yuan, reflecting a 30.33% year-on-year growth.
The halt at the Baltimore plant has raised concerns about Bora’s ability to achieve its target of 20 billion yuan in revenue this year. As a result of the disappointing performance in November, the company’s stock price dropped by 5.34% on December 9, closing at 779 yuan, falling below the 800 yuan mark.
Bora is actively reorganizing its resources. In addition to the capacity upgrades at the Baltimore plant, the company’s subsidiary, Yibang, passed a board resolution on November 25 to acquire two plant locations in Zhongli from Bora’s subsidiary, Baosheng. Going forward, Yibang will focus on CDMO (Contract Development and Manufacturing Organization) business, while Baosheng will specialize in the development of specialty generics. This professional division of labor is expected to enhance operational efficiency.
Bora also mentioned that its CDMO orders are steadily growing. The Yibang plant showed strong performance in November, with around ten major CDMO clients requesting quotes. The plant’s operations extend across Europe, the U.S., and India, with the highest demand coming from U.S. clients. If these contracts are successfully signed, they are expected to contribute new revenue growth for Bora.
Additionally, in terms of global market sales, Bora’s acquisition of the U.S. pediatric neurological rare disease drug leader, Pyro, in late October began contributing to revenue in November, further expanding its product portfolio and growth momentum. Overall, Bora’s operations are expected to continue with stable growth as planned.
Resource: 美廠維護停產 保瑞200億目標難度高
