Vetnostrum Animal Health announced on the 12th that it has entered into a partnership with Protect Biotech, a biotech innovation company focused on pet cancer treatment. Together, they will develop therapeutic products and innovative antibody drugs for pet cancer and heart diseases. This collaboration aims to further enhance the value of Vetnostrum’s existing product line and expand the innovative potential in the pet healthcare field, with both companies working to tap into the global $500 billion pet market.
Vetnostrum Animal Health, a subsidiary of YungShin Global Holding Corporation, reported a net profit of NT$136 million for the previous year, a 50% increase, with earnings per share of NT$2.06. The company also announced a cash dividend distribution of NT$1.85 per share, yielding a cash dividend rate of 4.8%, based on yesterday’s closing price of NT$38.35.
Vetnostrum is the largest animal pharmaceutical company in Taiwan in terms of market share and revenue, specializing in providing drugs and feed supplements for both economic animals and pets. The company is set to list its KoolPal brand of pet medicine in the second quarter of this year, becoming Taiwan’s first animal pharmaceutical company to enter the capital market.
Chairman Kai-Wei Chung of Vetnostrum stated that in addition to the collaboration with Protect Biotech, Vetnostrum will also participate in Protect Biotech’s Pre-IPO capital increase to deepen their long-term partnership. Leveraging its leadership in animal drug research, manufacturing, and market sales, Vetnostrum will provide market access and resources for the development of new drugs, while Protect Biotech will drive the development of innovative drugs with its expertise in biotechnology R&D and clinical trials.
Protect Biotech focuses on the development of innovative therapeutic drugs for pets and is actively advancing its global platforms for cancer treatment vaccines, gene therapy for heart diseases, and antibody drug development. This collaboration with Vetnostrum offers Protect Biotech a rare opportunity to work with a leading global animal pharmaceutical company. The company will focus on developing the most advanced innovative drugs and leveraging its expertise in clinical trials and biopharmaceuticals to ensure that these therapies meet the needs of the pet health market. Both companies look forward to fully leveraging their respective strengths to help advance their future growth.
In the future, Vetnostrum and Protect Biotech will continue to expand their cooperation beyond cancer and heart disease treatment, exploring other areas of pet health such as pain management, kidney, ophthalmology, dermatology, and orthopedic diseases. The goal is to drive innovation and industry upgrades in pet pharmaceutical technology. Additionally, both companies plan to recruit more domestic and international professional partners to build a “National Antibody Pet Medicine Team,” enhancing Taiwan's competitiveness in the global animal biotech industry.
Resource: 永鴻攜手寶泰 搶攻5,000億美元寵物市場
