ScinoPharm Taiwan held its investor conference yesterday, where the management team stated that the global boom in GLP-1 drugs has driven a shortage of peptide injection production capacity. The company already has a series of products that have been filed for approval or are awaiting submission. It expects to secure regulatory approvals for some of these products this year. Although the revenue contribution from GLP-1 products in 2024 will be limited, significant growth is anticipated starting next year. Additionally, many clients have expressed interest in outsourcing manufacturing, signaling a promising market for ScinoPharm’s Contract Development and Manufacturing Organization (CDMO) services. The company is also in discussions with Handa Pharmaceuticals, known for its expertise in oral formulations, to explore the development of oral GLP-1 drugs.
ScinoPharm General Manager Li-An (Susan) Lu explained that in recent years, the company has been focused on vertical integration, aiming to leverage its active pharmaceutical ingredient (API) business to expand into finished dosage formulations and CDMO services to drive growth. Within the high-demand GLP-1 sector, ScinoPharm has already submitted products for approval and aims to secure its first regulatory approval this year. Additional GLP-1 peptide drugs in the pipeline are expected to be filed for Abbreviated New Drug Applications (ANDAs) in 2025 and beyond. While this year’s revenue contribution from GLP-1 products may still be modest, Lu emphasized that significant growth is expected starting next year.
Lu also noted that the strong demand for vaccines and now GLP-1 drugs has confirmed the shortage of injectable manufacturing capacity in the market. As a result, clients are releasing more outsourcing opportunities, particularly for peptide-based drugs—ScinoPharm’s area of expertise—creating a favorable environment for the company to secure additional orders.
Lu further highlighted that the partnership with Handa Pharmaceuticals was driven by Handa’s proven success in developing specialized oral formulations, several of which have already reached the market. With ScinoPharm’s strength in injectables and Handa’s capabilities in oral drug delivery, the two companies are now exploring collaboration on oral GLP-1 product development. However, Lu acknowledged that these discussions are still at a relatively early stage.
ScinoPharm reported that its CDMO business generated US$30 million in revenue last year, accounting for 30% of total sales. Current CDMO clients include a major prostate cancer drug sponsor, with ScinoPharm supporting regulatory filings in multiple countries. Another U.S. client’s Alzheimer’s drug, for which ScinoPharm supplies the API, has recently been approved and is expected to launch in the U.S. by the end of the first quarter. Regulatory filings in China, Australia, and New Zealand are planned to follow.
Regarding injectable CDMO services, ScinoPharm noted that a client’s first product was launched in the third quarter of 2023. The company plans to expand this partnership to include earlier-stage manufacturing processes and hopes to secure new clients and projects this year and next.
ScinoPharm reported 2023 revenue of NT$3.406 billion, reflecting 7% year-on-year growth. Net profit after tax reached NT$339 million, an 18% increase from the previous year, with earnings per share (EPS) after tax of NT$0.43.
Resource: 搶占GLP-1商機，神隆今年營收貢獻起跑/明年跳升
