Taiwan’s biotech sector delivered an impressive performance in the first quarter, with 11 companies, including MedFirst Healthcare Services, Formosa Laboratories, Medigen Biotechnology, Delta Asia, and Ever Fortune.AI, turning profitable. Additionally, ten companies, such as MIKOBEAUTE, Savior Lifetec, Ever Supreme Bio Technology, PharmaEssentia, and others, posted year-over-year profit growth of over 100%. Institutional investors are optimistic that these companies will continue to deliver strong results throughout the year.
Among the standouts, Delta Asia and United Orthopedic are expected to see significant turnarounds this year. Delta Asia has entered mass production at its new Nanshan facility, with new product lines such as insulin injectors, mitral valves, urology devices, and the OTTAVA digital minimally invasive surgical robotic platform. With stable order visibility, the company’s performance is expected to rise quarter by quarter.
United Orthopedic, which specializes in spinal fusion surgery products, sold nearly 600 Tripod-Fix implants overseas in 2023, and is targeting a doubling in volume in 2024. With the European vertebral compression fracture treatment market valued at USD 71 billion and a CAGR of 11.82%, United Orthopedic is establishing a sales team in Germany. Current order forecasts are promising, with continued growth expected.
Formosa Laboratories’ core active pharmaceutical ingredient (API) business remains solid. The company has actively expanded into CDMO services and injectable drugs. Its breast cancer injection, Eribulin Injectable, is expected to receive U.S. FDA approval this year. CDMO client numbers have grown 30% compared to the same period last year, highlighting strong momentum.
Meanwhile, ten companies—MIKOBEAUTE, Savior Lifetec, Ever Supreme, PharmaEssentia, CHC Healthcare Group, Tien Liang BioTech, ApexBio, InnoCare Optoelectronics, ICARES MEDICUS, and United Orthopedic—saw their profits more than double year-over-year. MIKOBEAUTE led the pack with a nearly sevenfold increase. Additionally, seven companies, including Bora Pharmaceuticals, Luo Lih-Fen, G&E Herbal Biotechnology, Norbel, Bonraybio, Chi Sheng Pharma & Biotech, and Concern, posted annual profit growth starting from 50%.
Ever Supreme Bio Technology benefited from the passage of Taiwan’s two regenerative medicine laws and growing acceptance of cell therapies. Its CDMO orders are steadily increasing, with visibility extending into Q1 2026. The company plans to expand into international CDMO collaborations and continue on its upward growth trajectory this year.
Following its merger with a U.S. peer last year, ICARES MEDICUS experienced a significant operational leap. In the first four months of this year, it recorded NT$395 million in revenue—an 80.2% year-over-year increase. Q1 net income after tax was NT$47.33 million, up 105.31% year-over-year, with EPS reaching NT$1.11. Analysts are optimistic the company will hit new highs in both revenue and profit this year.
Its intraocular lens products have already received regulatory approval in China. The company is currently ramping up production and launching marketing efforts, with sales expected to contribute to revenue between Q2 and Q3.
Resource: 生技業首季財報表現亮眼 11家轉盈
