Taiwan’s biotech industry maintained its record-breaking profit trajectory in 2024, with preliminary estimates indicating that around 30 companies achieved earnings exceeding half their paid-in capital. Bora Biologics, PEGAVISION, and Lotus Pharmaceutical led the sector in earnings per share (EPS), posting NT$38.69, NT$23.47, and NT$19.35, respectively, firmly securing their positions as the industry’s top three earners per share. Meanwhile, the new drug sector staged an impressive comeback, with PharmaEngine and PharmaEssentia reporting EPS of NT$12.19 and NT$8.96, respectively, making their debut among the top 15 in the biotech sector. Optical product companies also continued to shine, with EPS performances consistently placing them among the leaders in the biotech industry.
Based on preliminary statistics, companies that posted earnings exceeding their entire paid-in capital included Bora Biologics, PEGAVISION, Lotus Pharmaceutical, UNIVERSAL VISION BIOTECHNOLOGY, PharmaEngine, and DR.WU SKINCARE. Except for DR.WU SKINCARE, all set new record highs. Though financial statements from Gin Hwa Biotech, Sunmax Biotechnology, VIZIONFOCUS, Visco Vision, Taidoc Technology, and SHINY BRS GROUP have yet to be released, analysts remain optimistic, projecting EPS of at least NT$10 for these firms.
By industry segment, the generic and new drug sectors emerged as major winners. Bora Biologics benefited significantly from its mergers and acquisitions, delivering earnings exceeding three times its paid-in capital for two consecutive years. The company plans to distribute a record-high dividend of NT$16 per share, including NT$14 in cash and NT$2 in stock. Bobby Sheng, Chairman of Bora Biologics, stated that the company has added nearly 20 new products to its CDMO portfolio, laying a solid foundation for mid-term growth. He expects Bora’s scale and competitiveness to become more evident this year.
Lotus Pharmaceutical, on the other hand, has also posted earnings exceeding its entire paid-in capital for three consecutive years and plans to distribute a record cash dividend of NT$5.73 per share. Analysts predict that with the continued launch of new products and progress in its Southeast Asia acquisition plans, Lotus Pharmaceutical has the potential to achieve profits equivalent to twice its paid-in capital this year.
Among pharmaceutical groups, TTY Biopharm and Standard Chem & Pharm were the standout performers. Within TTY Biopharm’s portfolio, PharmaEngine delivered its first-ever earnings exceeding its paid-in capital, thanks to a US$50 million milestone payment from sales of its pancreatic cancer drug, ONIVYDE. This milestone boosted TTY Biopharm’s overall performance, with its own EPS reaching NT$5.83, the second-highest in its history. However, PharmaEngine’s next sales milestone of US$60 million is expected to be difficult to achieve in the near term, given the high threshold. As a result, future growth will depend on further new drug development and licensing opportunities.
Standard Chem & Pharm, bolstered by the strong performance of both its parent company and subsidiaries, maintained its leadership position among pharmaceutical groups. All three of its subsidiaries posted record-high revenues. SYN-TECH posted an EPS of NT$8.82 last year and plans to distribute a cash dividend of NT$5.3 per share. Along with Standard Chem & Pharm, both firms set new records for revenue, EPS, and dividend payouts—achieving the coveted “triple high.” Analysts remain optimistic that the group’s robust growth momentum will continue into this year.
In contrast, companies in the medical aesthetics, health supplements, and distribution sectors underperformed last year. CHLITINA HOLDING, TCI GENE, Syngen Biotech, Great Tree Pharmacy, and NORBEL all reported year-over-year declines. Nevertheless, expectations remain high for their recovery this year, and they have all maintained generous dividend payouts.
Resource: 生技業去年約30家賺逾半股本 前三強保瑞、晶碩、美時
