TSH Biopharm held an investor conference on the 14th, where General Manager Grace Yang stated that the company’s two subsidiaries demonstrated strong growth momentum last year. Chuang Yi Biotech turned profitable in 2024, achieving record-high sales of its cell-based vaccines. Meanwhile, TOP Pharma Medical-wares posted its highest revenue in two decades, reflecting the enhancement of both its brand management and distribution competitiveness. Looking ahead, TSH Biopharm will continue to promote its “Little Golden Chick” initiative, leveraging strategic investments at home and abroad to build opportunities for inorganic growth, accelerate international market expansion, and drive innovative development, aiming to create greater value.
In 2024, TSH Biopharm achieved consolidated revenue of NT$1.115 billion, marking a historic high and a year-over-year increase of 38%. Net profit after tax reached NT$113 million, up 82.4% year-over-year, with earnings per share (EPS) of NT$2.95. The board of directors has approved a proposed cash dividend of NT$2.12 per share, representing a payout ratio of 71.8%.
Grace Yang explained that TSH Biopharm’s growth in 2024 was driven by three key factors: 30% came from organic growth through increased market penetration of core products; 13% was contributed by royalty income from its R&D licensing model; and 56% resulted from inorganic growth through strategic mergers, acquisitions, and collaborations. These growth drivers have enabled the company to maintain its competitive advantage in the market.
In the field of precision medicine using next-generation sequencing (NGS), TSH Biopharm’s testing business grew by 54%. The company has solidified its leadership position in Taiwan, becoming the first company in the country to receive LDT approval for liquid biopsy NGS testing. It has also signed agreements with 60% of cancer treatment hospitals in Taiwan. Additionally, TSH Biopharm has collaborated with multiple medical centers to conduct research, publishing the first clinical studies on pleural and cerebrospinal fluid samples from local patients in prestigious international journals, with the goal of benefiting more critically ill patients.
Looking ahead to 2025, Grace Yang stated that the company had successfully obtained two new drug approvals in January and February. On the innovation front, TSH Biopharm will continue to deepen its R&D efforts, advancing new product registrations in ophthalmology, central nervous system disorders, gastrointestinal medications, and functional foods. These efforts aim to expand the company’s portfolio, enhance patients’ quality of life, and provide a more comprehensive range of products to meet clinical needs.
Grace Yang further emphasized that both of TSH Biopharm’s subsidiaries continue to exhibit robust growth momentum while strengthening their synergies through an integrated distribution strategy in Taiwan. In 2024, Chuang Yi Biotech turned profitable and set a new sales record for its cell-based vaccines, while TOP Pharma achieved its highest revenue in 20 years, reflecting improvements in brand management and distribution competitiveness. Moving forward, the company will press on with its “Little Golden Chick” initiative, using strategic investments both domestically and internationally to foster inorganic growth opportunities, accelerate its global expansion, and promote innovative development to deliver greater value.
Resource: 東生華去年獲利大增八成 續推小金雞計畫
