Tue, Mar 07, 2017 - Page 11 News List

Taiwan Business Quick Take

Staff writer

PHARMACEUTICALS

TaiMed inks distribution deal

TaiMed Biologics Inc (中裕新藥) yesterday said that it has expanded a distribution contract for its new HIV/AIDS drug, TMB-355, with a Canadian partner to include Europe as well as North America. TaiMed first signed a contract in March last year to have Canadian company Theratechnologies Inc serve as its exclusive distribution partner in Canada and the US, and the contract was expanded yesterday to cover a number of European markets as well as Israel. Under the revised contract, TaiMed receives royalties of 57 percent on sales of TMB-355 in Europe, up from the 52 percent the two companies agreed in March last year.

FINANCIAL SERVICES

Taishin denies mulling bid

Taishin Financial Holding Co (台新金控) yesterday denied a media report that the company is mulling its brokerage unit acquiring Ta Chong Securities Co Ltd (大眾證券) at NT$11 per share in a NT$4.2 billion (US$136 million) cash deal. The acquisition is part of the bank-focused conglomerate’s bid to diversify its earnings drivers, sources close to the matter said in a report published by the Chinese-language Economic Daily News. Should the deal go through, Taishin Securities Co’s (台新證券) ranking among its local peers would rise from No. 32 to No. 24, industry observers said. The acquisition would represent a 11.4 percent premium after Ta Chong Securities shares closed at NT$9.87 on Friday last week. Ta Chong Securities shares yesterday gained 2.84 percent to close at NT$10.15 in Taipei trading.

CAMERA LENSES

Largan sales decline 8%

Largan Precision Co (大立光), the nation’s leading smartphone camera lens supplier, posted sales of NT$3.45 billion last month, an 8 percent month-on-month decline, according to a statement posted on the company’s Web site on Sunday. However, the figure was still 70 percent higher than the same period last year, the company said. Last month, 10 megapixel and above lenses accounted for between 70 and 80 percent of the company’s total shipments, 8 megapixel lenses contributed between 10 and 20 percent, while lenses with resolutions of fewer than 5 megapixels contributed 10 percent, according to a shipment breakdown. Total sales for the first two months of the year grew 38 percent from the same period last year to NT$7.22 billion, the company said.

MEMORY CHIPS

Macronix to cut its capital

Memorychip manufacturer Macronix International Co (旺宏電子) yesterday said its board has approved a proposal to halve its capital in order to improve the company’s financial structure. After the reduction, the company would have 1.81 billion common shares, according to a company filing with the Taiwan Stock Exchange. The share reduction plan is subject to a vote at the firm’s annual shareholders’ meeting on May 26. Macronix still has NT$18.65 billion in accumulated losses, despite two consecutive profitable quarters at the end of last year.

COMPUTERS

Advantech approves payout

Advantech Co (研華), the world’s largest industrial computer maker, yesterday said its board has approved a NT$6.3 cash dividend. That represents a payout ratio of 70.31 percent compared with its earnings of NT$8.96 per share last year. In total, the company made a net profit of NT$5.69 billion last year. The company yesterday posted revenue of NT$2.96 billion for last month, a 9.38 percent year-on-year increase from NT$2.7 billion.

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