Industry Watch
Salary 2022: Non-managerial employees in Taiwan’s biomedical sector
2023-07-07

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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).

17 Companies with Salary Over 1 Million
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%

Avg. Salary of Non-Managerial Employees: YoY Growth & EPS

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.

EPS & Avg. Salary Growth 2022

Avg. Salary of Non-Managerial Employees by Industry

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.

Salary by Industry: Listed (10K, TWD)
Salary by Indusry: OTC (10K, TWD)
Source: MOPS;complied by IBMI & RBMP

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