Biomedical companies stemmed from Taiwan together saw a waning TWD$4 billion net income in the first half of 2023 alone. Nevertheless, some weathered the storm with even better margins whilst a few turned losses into profit.
Net income posted in H1, 2023 by 220 biomedical companies totalled TWD$6.14 billion, which sank nearly 41% compared to TWD$10.54 billion seen in 2022. Companies whose net income increased went from 134 to 126, suggesting the market as a whole is yet to return to pre-pandemic levels.
Despite facing headwinds, Lotus and Bora amongst others the top performers who netted a remarkable TWD$2.46 billion and TWD$1.74 billion, with the former tripled and the latter quadrupled its net income, respectively.
Looking at the top 10 by net income, TaiDoc, Grape King and CH Biotech bore a loss. TaiDoc, whose product sales rocketed due to the pandemic, saw a sharp plummet from their reporting TWD$2.25 billion in 2022 to TWD$540 million from 2023 onwards.
Top 10 by Net Income: H1, 2023
| Rank |
Company |
2023 H1 |
2022 H1 |
Stock Exchange |
| 1 |
Lotus Pharmaceutical Co., Ltd. (美時) |
24.60 |
7.74 |
Listed |
| 2 |
Bora Pharmaceuticals Co., LTD. (保瑞) |
17.44 |
4.19 |
OTC |
| 3 |
Grape King Bio Ltd (葡萄王) |
8.95 |
9.31 |
Listed |
| 4 |
Chlitina Holding Limited (麗豐-KY) |
7.74 |
4.61 |
Listed |
| 5 |
Pegavision Corporation (晶碩) |
7.17 |
7.00 |
Listed |
| 6 |
Standard Chemical & Pharmaceutical Co. Ltd. (生達) |
6.21 |
5.63 |
Listed |
| 7 |
CH Biotech R&D Co., Ltd. (正瀚) |
5.83 |
6.03 |
OES |
| 8 |
TaiDoc Technology Corporation (泰博) |
5.67 |
22.46 |
OTC |
| 9 |
TTY Biopharm Company Limited (東洋) |
5.46 |
5.11 |
OTC |
| 10 |
Universal Vision Biotechnology Co., Ltd. (大學光) |
5.39 |
4.09 |
OTC |
Source: MOPS
For those who turned losses into profit, their net income contributed to TWD$1.1 billion. Amongst this cohort, Handa Pharmaceuticals achieved a record high TWD$490 million, thanks to the sales of its multiple sclerosis drug, coupled with a 40% market share it now has in the US of its gastroesophageal reflux drug launched in November 2022.
Biomedical Companies with Positive Growth: H1, 2023 (TWD, 100M)
| Rank |
Company |
2023 H1 |
2022 H1 |
Stock Exchange |
| 1 |
Handa Pharmaceuticals, Inc. (漢達) |
494.03 |
-86.38 |
OES |
| 2 |
Unicon Optical Co., Ltd. (優你康) |
123.76 |
-88.34 |
OES |
| 3 |
nan |
41.97 |
-25.54 |
OTC |
| 4 |
G&E Herbal Biotechnology Co., Ltd. (德英) |
31.75 |
-7.92 |
OTC |
| 5 |
Genovate Biotechnology Co., Ltd. (健亞) |
26.66 |
-6.19 |
OTC |
| 6 |
Wiltrom Co., Ltd. (台微醫) |
18.66 |
-14.26 |
OTC |
| 7 |
MicroBase Technology Corp. (微邦) |
15.34 |
-2.17 |
OES |
| 8 |
TaiwanJ Pharmaceuticals Co., Ltd. (景凱) |
12.02 |
-9.54 |
OES |
| 9 |
Anxo Pharmaceutical Co., Ltd. (瑩碩生技) |
10.15 |
-38.65 |
OES |
| 10 |
nan |
6.05 |
-3.54 |
OES |
| 11 |
Taiwan Biomaterial Co., Ltd. (台生材) |
5.64 |
-1.29 |
OTC |
| 12 |
Ever Fortune.AI Co., Ltd. (長佳智能) |
1.55 |
-28.35 |
OTC |
| 13 |
Savior Lifetec Corporation (松瑞藥) |
1.12 |
-55.56 |
OTC |
Source: MOPS
Biomedical Companies with Negative Growth: H1, 2023 (TWD, 100M)
| Rank |
Company |
2023 H1 |
2022 H1 |
Stock Exchange |
| 1 |
Ma Kuang Healthcare Holding Limited (馬光-KY) |
-1.22 |
4.16 |
OTC |
| 2 |
Visgeneer Inc. (暐世) |
-2.81 |
7.24 |
OES |
| 3 |
UniPharma Co., Ltd. (華宇藥) |
-5.17 |
1.94 |
OES |
| 4 |
Bioray Biotech Co., Ltd (光晟生技) |
-6.02 |
0.94 |
OES |
| 5 |
Healthconn Corp. (康聯生醫) |
-8.4 |
35.43 |
OES |
| 6 |
DAWUSHAN FARM TECHNOLOGY CO., LTD.(大武山) |
-16.55 |
71.98 |
OES |
| 7 |
Puriblood Medical Co., Ltd. (普瑞博) |
-18.26 |
4.81 |
OES |
| 8 |
Sunder Biomedical Tech. Co., Ltd. (善德生技) |
-31.12 |
26.17 |
OES |
| 9 |
EBM Technologies Incorporated (商之器) |
-32.98 |
5.66 |
OTC |
| 10 |
iXensor Co., Ltd. (安盛生) |
-34.29 |
12.48 |
OES |
| 11 |
Taiwan Advance Bio-Pharmaceutical Inc. (尖端醫) |
-36.5 |
7.84 |
OES |
| 12 |
CVC Technologies Inc. (皇將) |
-36.68 |
29.92 |
OTC |
| 13 |
Kim Forest Enterprise Co., Ltd. (金萬林) |
-38.11 |
88.01 |
OES |
| 14 |
Genomics BioSci & Tech. Co.,Ltd. (基米) |
-78.3 |
67.91 |
OES |
| 15 |
GeneReach Biotechnology Corp. (瑞基) |
-85.22 |
231.03 |
OTC |
| 16 |
Taiwan Advanced Nanotech Inc. (圓點奈米) |
-91.8 |
429.83 |
OES |
| 17 |
General Biologicals Corporation (普生) |
-95.8 |
13.66 |
OES |
| 18 |
EirGenix Inc. (台康生技) |
-397.54 |
20.27 |
OTC |
| 19 |
Oneness Biotech Co., Ltd. (合一) |
-598.02 |
725.66 |
OTC |
| 20 |
nan |
-619.0 |
78.17 |
OES |
| 21 |
Microbio Co., Ltd. (中天) |
-691.61 |
214.15 |
OTC |
Source: MOPS
