Savior Lifetec, a publicly traded biotech company, announced on the 8th that its antibiotic product "Ertapenem for Injection" has received approval from the National Medical Products Administration (NMPA) in China, marking it as a product that has passed China's generic drug quality and efficacy consistency evaluation. The product will officially enter the Chinese carbapenem antibiotic market.
In March this year, Savior Lifetec reported a consolidated revenue of NT$93.87 million, a year-on-year increase of 1.56%. In the first three months of the year, the company achieved consolidated revenue of NT$263 million, a 1.8% year-on-year growth.
This drug approval is part of a collaboration between Savior Lifetec and the large state-owned Chinese pharmaceutical company China Resources Group, with China Resources Sanjiu Medical and Pharmaceutical, a subsidiary of China Resources, responsible for the commercialization of the product in the Chinese market. The two companies will combine Savior Lifetec's integrated development and manufacturing capabilities for active pharmaceutical ingredients and formulations with China Resources' extensive resources and market strength in China's pharmaceutical distribution, jointly exploring the huge potential of the antibiotic market in Chinese hospitals.
Savior Lifetec stated that Ertapenem is a broad-spectrum carbapenem antibiotic commonly used in clinical settings to treat complex intra-abdominal infections, community-acquired pneumonia, acute pelvic infections, complicated urinary tract infections, and complicated skin infections. According to data from international pharmaceutical statistics firm IQVIA (for the 12-month period ending September 2023), the global market size for Ertapenem is approximately US$316 million, with China being the second-largest market for Ertapenem after the United States. The market size in China is US$62 million, with an annual growth rate of 16%.
Looking ahead to this year, Savior Lifetec will continue to expand the global market for its Ertapenem product, which is already marketed in nearly 30 countries. In Taiwan, Savior Lifetec's Ertapenem product has surpassed the original manufacturer's market share and has entered multiple medical centers and regional hospitals. The company is also actively seeking another GPO supply opportunity in the U.S. with its marketing partner, positioning for future growth momentum and development prospects.
For the 2024 fiscal year, Savior Lifetec expects a revenue of NT$1.217 billion, a 16% increase compared to the previous year. The gross profit margin will rise from 21% to 28%, with operating net profit turning positive at NT$119 million and after-tax net profit reaching NT$182 million. Compared to 2023, the company's overall operating performance shows improvements in gross margin, operating net profit margin, and after-tax net profit margin, mainly due to the strong performance of Ertapenem as a niche product and increased sales in the U.S. market. Savior Lifetec's Ertapenem manufacturing process is globally competitive, and the company is actively expanding production lines, expecting to double its production capacity in the next 1-2 years, aiming for a larger global market share.
Resource: 松瑞藥：「厄他培南注射劑」取得大陸藥證 進軍全球第二大市場
