A new player joins the biotech stock market. Taiwan’s first professional animal pharmaceutical company, Vetnostrum Animal Health, went public on the 28th, offering shares at an underwriting price of NT$28 per share. The company generates over 95% of its revenue from pharmaceuticals for economic animals, with pet medicines and health products accounting for only 2%. Chairman Vick Chung believes that the increasing number of pet owners in Taiwan will drive the company's pet product sales, which are set to enter chain pet stores this year. The goal is to increase the proportion of revenue from pet-related products to 30% within five years.
Vetnostrum primarily engages in the production and sale of chemical drugs and feed additives for animals. It holds over 300 domestic animal product licenses. The company’s product portfolio is divided into four main categories: therapeutic drugs, medicated feed additives, non-medicated feed additives, and pet medications and health products.
Recently, Vetnostrum signed a strategic cooperation memorandum with Protect Animal Health, a biotech innovation company focused on pet cancer treatment. Together, they will develop therapeutic products and innovative antibody drugs targeting pet cancer and heart disease. The collaboration aims to enhance the value of Vetnostrum’s existing product line and expand its potential in the pet medical field, seizing opportunities in the global $500 billion pet market. Additionally, Vetnostrum has participated in Protect Animal Health’s Pre-IPO cash capital increase, strengthening the long-term cooperative relationship between the two companies.
According to market research firm Precedence Research, the global animal health market was valued at $53.15 billion in 2021 and is projected to grow to $76.82 billion by 2030, with a compound annual growth rate (CAGR) of 4.2% from 2022 to 2030.
In the global animal pharmaceutical sector, Vantage Market Research reports that the market size was $24.31 billion in 2020, and it is expected to reach $40.75 billion by 2028, growing at a CAGR of 6.67%.
For feed additives, Grand View Research’s report shows the market value at $40.74 billion in 2022, with a continued growth rate of 3.6% annually from 2023 to 2030.
Vetnostrum currently has five pet pharmaceuticals on the market, and ten health products were launched last year. This year, five cat health products will be introduced. At present, Vetnostrum's pet-related products mainly consist of medications, but the number of health product offerings will continue to increase. With continued market growth, the company is expected to see strong operational momentum.
Resource: 首間動物藥廠報到 永鴻生技轉上市
