Bora Pharmaceuticals (保瑞) announced its Q3 financial results on the 13th. Amidst generic drug price competition, internal supply transfer delays, and foreign exchange losses, the company recorded a net profit of NT$2.649 billion for the first three quarters, down 24.4% year-on-year, with earnings per share (EPS) of NT$21.34. For Q3 alone, net profit totaled NT$633 million, a 62.8% decline from the same period last year, with a quarterly EPS of NT$5.09.
The board also approved a share buyback program, planning to repurchase 200,000 shares at a price range of NT$450 to NT$900 per share.
Bora stated that by the end of Q3, benefiting from expanded capacity and dosage forms, its CDMO business—excluding internal orders—achieved NT$5.27 billion in revenue for the first three quarters, up 18.98% year-on-year, and regained a quarterly growth trend. Including internal orders, cumulative revenue for the first three quarters surpassed NT$7 billion, representing an almost 60% increase year-on-year. During the quarter, Bora completed development and production of 418 million doses, with the top 20 global pharmaceutical companies contributing approximately 33% of CDMO revenue, reflecting the continued expansion of its high-end client base. Currently, Bora’s CDMO backlog stands at US$296 million, covering 27 new contracts and over 20 new products, with 72% designated for commercial projects, providing clear operational visibility into 2026. Chairman Sheng Bao-Hsi noted that after a year of integration and cost optimization, the CDMO business’s competitiveness has significantly improved, supporting internal production of the group’s Upsher-Smith generic products and potentially initiating in-house production of certain specialty drugs in the U.S.
Additionally, the large-molecule CDMO segment grew nearly 50% quarter-on-quarter. Beyond Cipla, Bora added one new ADC client and several specification updates for existing clients. The company also secured a new large-molecule CDMO customer, establishing a collaborative one-stop platform to accelerate the expansion of its large-molecule business.
Resource: 保瑞第3季EPS 5.09元 通過實施庫藏股
