Tue, Feb 25, 2014 - Page 13 News List

SciVision forecasts 30% annual revenue growth

By Camaron Kao  /  Staff reporter

SciVision Biotech Inc (科妍生技), which makes hyaluronic acid for use in plastic surgery and the treatment of degenerative joint diseases, said yesterday that its revenue would grow more than 30 percent this year from last year, anticipating strong overseas sales of its degenerative joint disease treatments.

The company expects overseas sales to provide 64 percent of its revenue this year — up from 36 percent last year — as sales of its Hya-Joint degenerative joint disease treatment increased significantly in Malaysia, Turkey and Chile, SciVision Biotech general manager Tony Han (韓台賢) said yesterday.

The company also expects China to approve sales of its Hya-Dermis plastic surgery products this year, allowing the company to compete with Switzerland-based Q-Med AB, Korea-based LG Household & Health Care and one Chinese company, company chairman Han Kai-cheng (韓開程) said.

“The market for plastic surgery in China is a new and growing market with few competitors,” the chairman said.

SciVision is in talks with Chinese distributors and the company is likely to sign contracts with two firms to sell its products in the country, he said.

Regarding the Taiwanese market, the company expects sales to grow both monthly and annually starting next month after it launches a Hya-Dermis product with an anesthetic effect.

Gross margin for the new product is 15 percent higher than its other Hya-Dermis products, the company said.

Last year, the company reported revenue of NT$211.18 million (US$6.96 million), up 5.23 percent from NT$200.68 million a year ago, according to the company’s filing to the Taiwan Stock Exchange.

Hya-Joint products accounted for half of the company’s revenue last year, while Hya-Dermis products accounted for the other half, the company said, adding that it expects sales of Hya-Joint products to exceed 50 percent of its revenue this year.

Last month, SciVision registered revenue of NT$14.23 million, down 18.57 percent from NT$17.47 a year ago, according to filing.

Han Kai-cheng said revenue last month and this month would post year-on-year declines because customers are waiting for the company to launch its new products in Taiwan.

Shares in the company rose 0.85 percent to NT$71.1 yesterday, outperforming the TAIEX, which was down 0.48 percent.

Meanwhile, drugmaker TWi Pharmaceuticals Inc (安成藥) yesterday said it won a lawsuit in the US on Friday against US-based Par Pharmaceutical Inc, clearing patent infringement concerns for its generic drug Megace ES, which is used to treat eating disorders caused by chemotherapy or other treatments for HIV/AIDS.

The company said it would launch the drug by the end of the year and estimates about US$65.6 million a year in sales, which is 80 percent of what Par Pharmaceutical Inc gets for a drug treating patients with similar conditions.

TWi Pharmaceuticals’ share increased 2.2 percent to NT$325 yesterday.

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