Formosa Laboratories, a pharmaceutical company that has expanded from active pharmaceutical ingredients (APIs) into injectables, saw its net income after tax turn negative in the first half of the year due to financial asset losses and foreign exchange impacts. However, institutional investors remain optimistic about the company’s tangible benefits from CDMO business expansion and recent certification of its injectable plant. Revenue in New Taiwan dollars is still expected to remain stable year-on-year in 2024, with hopes that, in the medium term, income from CDMO services and injectables will replace APIs as the main growth engine.

To meet U.S. manufacturing needs, Formosa Laboratories previously acquired North America–based Synchem-Formosa. The company noted that this unit is still a small-scale R&D laboratory but is gradually expanding into sterile operations and analytical equipment for ADC drug development. Over the medium to long term, the goal is to move toward production capacity that can meet clinical demands. Beyond the North American market, the company’s CDMO business already includes European clients in Phase I clinical trials, as well as ongoing projects with customers in Taiwan and Japan.

As for its injectable plant, Formosa Laboratories’ production lines have passed inspections by the TFDA, FDA, and EMA GMP. In addition to increasing revenue contribution from its own injectable product portfolio, the company is developing new drugs targeting anemia, GLP-1, and chronic kidney disease, which are expected to contribute to revenue within the next three years.

Resource: 針劑/CDMO成主力，台耀期有新營收動能