Standard Chemical and Pharmaceutical Co Ltd (生達化學製藥) yesterday announced a 44 million yuan (US$6.73 million) joint venture deal with DIA Pharmaceutical Co Ltd, one of the largest pharmaceutical firms in Japan.
The joint venture, which will be set up in China, will be 60 percent owned by Standard Chemical’s subsidiary in Jiangsu Province, China, with DIA holding the remaining 40 percent, the company said.
Tainan-based Standard Chemical was the first Taiwanese pharmaceutical firm to obtain a manufacturing license from the US Food and Drug Administration (FDA), and DIA Pharmaceutical is the largest medication fever patch manufacturer in Japan, Standard Chemical general president Roy Fan (范滋庭) said.
“We are building a pharmaceutical factory in China Medical City located in Jiangsu’s Taizhou, manufacturing a water-based pharmaceutical patch mainly for sale in China,” Fan told a media briefing.
China Medical City is a medical hub in China, with more than 400 international medical and pharmaceutical companies setting up their offices and plants there.
Standard Chemical said the new venture would produce the pharmaceutical patch in the first phase as this product is widely used in China.
“We expect construction of the new plant to be completed at the end of this year at the earliest, and to start mass production next year with a full-year manufacturing goal of 60 million patches,” Fan said.
He expects the venture’s first-year sales will reach 2.5 billion yuan in China.
The joint venture also plans to manufacture anticancer drugs and health foods in the future, Fan said, adding that Standard Chemical’s Jiangsu subsidiary bought a 13,000 ping (42,975m2) plot of land in December in preparation for the long-term plans.
Standard Chemical reported earnings of NT$194.03 million (US$6.7 million), or NT$1.24 earnings per share, in the first three quarters of last year, Taiwan Stock Exchange data showed. Revenues totaled NT$2.06 billion last year.
The company posted NT$531.55 million in revenues in the first quarter, up 7.67 percent from a year earlier, data showed.
Taiwan Transport and Storage Corp (TTS, 台灣通運倉儲) yesterday unveiled its first electric tractor unit — manufactured by Volvo Trucks — in a ceremony in Taipei, and said the unit would soon be used to transport cement produced by Taiwan Cement Corp (TCC, 台灣水泥). Both TTS and TCC belong to TCC International Holdings Ltd (台泥國際集團). With the electric tractor unit, the Taipei-based cement firm would become the first in Taiwan to use electric vehicles to transport construction materials. TTS chairman Koo Kung-yi (辜公怡), Volvo Trucks vice president of sales and marketing Johan Selven, TCC president Roman Cheng (程耀輝) and Taikoo Motors Group
Among the rows of vibrators, rubber torsos and leather harnesses at a Chinese sex toys exhibition in Shanghai this weekend, the beginnings of an artificial intelligence (AI)-driven shift in the industry quietly pulsed. China manufactures about 70 percent of the world’s sex toys, most of it the “hardware” on display at the fair — whether that be technicolor tentacled dildos or hyper-realistic personalized silicone dolls. Yet smart toys have been rising in popularity for some time. Many major European and US brands already offer tech-enhanced products that can enable long-distance love, monitor well-being and even bring people one step closer to
RECORD-BREAKING: TSMC’s net profit last quarter beat market expectations by expanding 8.9% and it was the best first-quarter profit in the chipmaker’s history Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), which counts Nvidia Corp as a key customer, yesterday said that artificial intelligence (AI) server chip revenue is set to more than double this year from last year amid rising demand. The chipmaker expects the growth momentum to continue in the next five years with an annual compound growth rate of 50 percent, TSMC chief executive officer C.C. Wei (魏哲家) told investors yesterday. By 2028, AI chips’ contribution to revenue would climb to about 20 percent from a percentage in the low teens, Wei said. “Almost all the AI innovators are working with TSMC to address the
Malaysia’s leader yesterday announced plans to build a massive semiconductor design park, aiming to boost the Southeast Asian nation’s role in the global chip industry. A prominent player in the semiconductor industry for decades, Malaysia accounts for an estimated 13 percent of global back-end manufacturing, according to German tech giant Bosch. Now it wants to go beyond production and emerge as a chip design powerhouse too, Malaysian Prime Minister Anwar Ibrahim said. “I am pleased to announce the largest IC (integrated circuit) Design Park in Southeast Asia, that will house world-class anchor tenants and collaborate with global companies such as Arm [Holdings PLC],”