Press release by Bora Pharmaceuticals

TAIPEI, July 6, 2021 -- Leading Taiwan-based contract development and manufacturing organization (CDMO) Bora Group today announced a name change for its subsidiary, currently Yuta Health, to Bora Health Inc. as part of an overall plan to integrate its distribution operations and brands. With the name change, Bora plans to complete the merging of the operations of Bora Health and Union Chemical & Pharmaceutical by the end of 2021. In the future, Bora's two main businesses, CDMO and distribution services, will integrate brand resources and focus on the global development of their respective manufacturing and sales businesses in order to create greater value and benefits.

Bora's executives have reiterated that the group remains committed to driving the success of its pharmaceutical customers in the global market. This will be achieved by strengthening the group's capabilities in drug development and manufacturing services in tandem with expanding its presence across the global pharmaceutical supply chain ecosystem, while leveraging its high-quality drug distribution services to seek new opportunities in the domestic drug and healthcare product markets. Specifically, Bora Health will continue to focus on the consumer healthcare market while Union Chemical & Pharmaceutical will specialize in prescription drugs. Bora's continued accelerated growth has made brand reorganization an essential part of its long-term development strategy. With the organizational restructuring, Bora aims to integrate and expand its distribution and marketing services with a focus on prescription and OTC drugs and consumer healthcare products in a move to further its growth while creating more social and economic benefits through its brands.

Bora also disclosed that group chairman Bobby Sheng will lead Bora Health as chairman. The move to have the CDMO and distribution businesses each operate independently will further boost their growth in the markets they are engaged in. Additionally, by leveraging Bora's strong brand awareness and competitive CDMO services, Bora Health expects to enhance its distribution capabilities in world markets and deliver added value backed by brand consistency.