The revenue of publicly listed biotech companies soared in 2024, with 32 companies achieving record highs. Analysts predict continued growth in 2025, driven by mergers and acquisitions, drug approvals, and resource integration. Industry leaders such as Bora Pharmaceuticals, PharmaEssentia, Lotus Pharmaceutical, Great Tree Pharmacy, and PEGAVISION are expected to lead the sector to new peaks in the Year of the Golden Snake.
Preliminary statistics reveal that 11 pharmaceutical companies, including Bora Pharmaceuticals, Lotus Pharmaceutical, PharmaEssentia, Standard Chem & Pharm, TTY Biopharm, Synmosa, Formosa Laboratories, NANG KUANG PHARMACEUTICAL, SYN-TECH, Chi Sheng Pharma & Biotech, and TSH Biopharm, achieved record revenues in 2024. The optical sector also performed well, with PEGAVISION, Visco Vision, VIZIONFOCUS, UNIVERSAL VISION BIOTECHNOLOGY, and FORMOSA OPTICAL TECHNOLOGY achieving significant growth. Distribution companies such as Great Tree Pharmacy, MedFirst Healthcare Services, and SHAREHOPE MEDICINE overcame the shadow of the fading pandemic-driven sales boom.
Meanwhile, the medical devices and testing sector, represented by BenQ Medical Technology, United BioPharma, PACIFIC HOSPITAL SUPPLY, BIOTEQUE, and OK BIOTECH, also showed strong results. In the beauty and wellness sector, companies such as SHINY BRS GROUP, SINPHAR PHARMACEUTICAL, Grape King Bio, Syngen Biotech, Sunmax Biotechnology, and DR.WU SKINCARE posted remarkable revenue growth. Additionally, CH BIOTECH R&D in the agriculture sector and BIONET in the cell therapy space also demonstrated outstanding performance in 2024.
Looking ahead to 2025, industry insiders believe that mergers and acquisitions, drug approvals, and the benefits of resource integration will be the key drivers of sustained growth in the biotech sector.
Bora Pharmaceuticals, the sector's profitability leader, is poised for further revenue growth, fueled by reshored U.S. manufacturing and contract development and manufacturing organization (CDMO) orders. With a client base spanning Europe, the U.S., and India, Bora has a strong momentum. Additionally, the acquisition of Pyros Pharmaceuticals, a leading U.S. brand in treatments for rare pediatric neurological diseases, has begun contributing to its revenue, promising another banner year in 2025.
TSH Biopharm, which crossed the NT$1 billion revenue milestone in 2024, is expected to post an earnings-per-share (EPS) of NT$3.5 for the year. CEO Yang Szu-Yuan announced a new five-year strategic plan, highlighting the launch of 16 new products and organic growth stemming from previous acquisitions of Apex Pharmaceuticals and Biotreat. These initiatives are projected to double the company’s operational growth.
Lotus Pharmaceutical is benefiting from the specialized U.S. distribution of its blood cancer drugs through partnerships with specialty pharmacies and clinics, ensuring a steady increase in U.S. shipments through 2025. Meanwhile, growth in the sales of key brands such as Qsymia for weight loss in Korea, Alimta, and Cialis in Taiwan, along with ongoing mergers and acquisitions in Southeast Asia, is set to boost revenue. The company is actively evaluating five acquisition opportunities, which, if completed, could contribute $100 million in revenue.
In the beauty and wellness sector, Grape King Bio is accelerating innovation with new formulations, formats, and products to strengthen its brand competitiveness. Subsidiary Pro-Partner is planning new product launches and expanding in the Malaysian market, while the Shanghai Grape King team will focus on OEM, proprietary brands, and distribution strategies to achieve new revenue records in 2025.
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