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According to MOPS Taiwan’s release of salary information on 3 July, 2023, which unveiled the average salary of non-managerial employees in the biomedical sector, there were 17 companies with the pay per annum over and well over 1M in Taiwan Dollar (TWD) and 24 with a double-digit salary growth.
Remuneration below refers to Taiwan Dollar. (Exchange rate USD1:TWD30.97 as of 13 July 2023), with the amount rounded.
Salary of Non-Managerial Employees 2022
Salary of listed companies increased 17.7% in average: As per MOPS, the average pay in 2022 was 803K. Amongst listees, 92.9% presented growth.
Of this cohort, the forerunners were Visco Vision (1.45M), Lotus Pharmaceutical (1.10M), CHC Healthcare (965K), Chunghwa Chemical Synthesis & Biotech (967K) and Excelsior Medical (941K).
Salary of OTC companies up by 3.4% in average: The average pay in 2022 was 801K. Amongst OTCs, 75.3% presented growth.Of this cohort, the forerunners were PharmaEngine (2.06M), Foresee Pharmaceuticals (1.31M), TSH Biopharm (1.24M), Senhwa Bioscience (1.23M) and TTY Biopharm (1.21M).
|Status||Company||Average Salary (Million, TWD)|
|1||OTC||4162 PharmaEngine, Inc.||2.06M|
|2||Listed||6782 Visco Vision Inc.||1.45M|
|3||OTC||6576 Foresee Pharmaceuticals Co., Ltd.||1.31M|
|4||OTC||8432 TSH Biopharm Corporation Limited||1.24M|
|5||OTC||6492 Senhwa Biosciences, Inc.||1.23M|
|6||OTC||4105 TTY Biopharm Company Limited||1.21M|
|7||OTC||4120 Orient EuroPharma Co., Ltd.||1.17M|
|8||OTC||6446 PharmaEssentia Corporation||1.17M|
|9||OTC||6547 Medigen Vaccine Biologics Corporation||1.13M|
|10||OTC||6535 Lumosa Therapeutics Co., Ltd.||1.12M|
|11||Listed||1795 Lotus Pharmaceutical Co., Ltd.||1.10M|
|12||OTC||3218 Universal Vision Biotechnology Co., Ltd.||1.07M|
|13||OTC||4114 Synmosa Biopharma Corporation||1.07M|
|14||OTC||6569 Onyx Healthcare Inc.||1.06M|
|15||OTC||4174 OBI Pharma, Inc.||1.06M|
|16||OTC||1788 Hi-Clearance Inc.||1.06M|
|17||OTC||6496 Excelsior Biopharma Inc.||1.03M|
And there were 24 companies, inclusive of listed and OTC, that came with a double-digit growth in salary: Top three went to TSH Biopharm, Orient EuroPharma and Universal Vision Biotechnology.
24 Companies with A Double-Digital Growth in Salary
|Status||Company||Annual Growth %|
|1||OTC||8432 TSH Biopharm Corporation Limited||16.15%|
|2||OTC||4120 Orient EuroPharma Co., Ltd.||12.19%|
|3||OTC||3218 Universal Vision Biotechnology Co., Ltd.||14.88%|
|4||OTC||6569 Onyx Healthcare Inc.||15.81%|
|5||OTC||6527 Crystalvue Medical Corporation||10.9%|
|6||OTC||8403 ShareHope Medicine Co., Ltd.||11.67%|
|7||OTC||4116 BenQ Medical Technology Corporation||27.36%|
|8||OTC||1777 SYN-TECH Chem. & Pharm. Co., Ltd.||28.03%|
|9||OTC||4123 Center Laboratories, Inc.||12.93%|
|10||Listed||4119 SCI Pharmtech, Inc.||20.83%|
|11||OTC||4130 Genovate Biotechnology Co., Ltd.||11.36%|
|12||OTC||4728 Sunmax Biotechnology Co., Ltd.||27.67%|
|13||Listed||4155 OK Biotech Co., Ltd.||12.41%|
|14||Listed||1701 China Chemical & Pharmaceutical Co., Ltd.||11.78%|
|15||OTC||6130 Singbao International Co. Ltd||49.06%|
|16||OTC||6574 Mikobeaute International Co., Ltd.||14.01%|
|17||OTC||4735 AViTA Corporation||12.77%|
|18||Listed||1783 Maxigen Biotech Inc.||11.17%|
|19||OTC||4102 Yung Zip Chemical Ind. Co., Ltd.||13.23%|
|20||Listed||1734 Sinphar Pharmaceutical Co.,Ltd.||14.68%|
|21||OTC||4107 Bioteque Corporation||12.68%|
|22||OTC||6242 Li Kang Biomedical Co., Ltd.||12.64%|
|23||OTC||4126 Pacific Hospital Supply Co., Ltd||14.2%|
|24||OTC||4161 Bioptik Technology Incorporation||19.39%|
Amongst 28 listees and 89 OTCs, the growth rate in terms of salary and EPS below showed that 28.9% of companies moved towards the upper right quadrant, 50.9% towards the lower right (salary+, eps-), 6.1% towards the upper left (salary-, eps+) and 14% fell into the lower left where both indicators deteriorated.
The biomedical sector in 2022 ranked 22 amongst 32 industries trading publicly and 13 amongst 27 trading in Taipei’s OTC market. Both rankings, compared to 2021, moved upwards.