ScinoPharm Taiwan (台灣神隆), a leading active pharmaceutical ingredient (API) maker, yesterday inked a cooperation pact with Coland Holdings (康聯控股) to enter the Chinese market.
The two companies aim to sell generic drugs for treatment of leukemia and lung, pancreatic, ovarian and breast cancer in China starting in 2017, a sector worth about 5 billion yuan (US$814.12 million) a year.
ScinoPharm Taiwan will be the exclusive API provider of the drugs, while Coland, a Shanghai-based company specializing in sales of healthcare products, will be responsible for marketing.
The two companies will seek local companies to process ScinoPharm Taiwan’s pharmaceutical ingredients and manufacture formulations.
ScinoPharm Taiwan did not provide its sales target in China, citing the long period required to obtain permits and launch products.
The firm posted a net profit of NT$350 million (US$11.79 million) last quarter, down 17 percent from NT$422 million the previous quarter, but up 42 percent from NT$247 million the previous year.
Revenue was NT$1.19 billion last quarter, down 16 percent from NT$1.4 billion the previous quarter, but an increase of 22 percent from NT$971 million the previous year.