TTY Biopharm Co (台灣東洋藥品) yesterday gave an upbeat outlook on its earnings for this year, as the maker of “super generic” drugs further secures its leading position in the manufacture of oncology and anti-infective medicines. The local company is also tapping into the market for multiple sclerosis.
Last month, the Taipei-based company announced that with Netherlands-based 2-BBB Medicines BV, it has established a joint venture company, EnhanX Inc (殷瀚生技).
The joint venture is to develop 2B3-201, a neuro-inflammation treatment initially focused on people with multiple sclerosis (MS) who suffer acute relapses, the company said.
In addition, the partnership is expected to speed up the development and regulatory approval processes, TTY Biopharm said.
TTY Biopharm said that it would leverage its 20-year experience in developing specialized injectable liposomal formulations, as well as microsphere formulations, to control drug release in advancing 2B3-201 through its product pipeline.
The drug is a targeted therapy for MS that is designed to cross the blood-brain barrier — a highly selective semipermeable membrane that separates circulating blood from extracellular fluid in the central nervous system.
Conventional treatments for diseases such as MS require large dosing to penetrate the blood-brain barrier, resulting in severe side effects, the company said.
However, its proprietary fabrication technologies are able to prevent the triggering of unwanted autoimmune responses, which helps to overcome the blood-brain barrier and effectively deliver the medicine to the brain, the company said.
Apart from its controlling stake in the joint venture, TTY Biopharm said that it also controls the proprietary manufacturing process and therefore has a significant claim on any profits the drug makes.
The company’s net income in the first quarter dropped 21.35 percent year-on-year to NT$221 million (US$7.34 million), while sales rose 3.61 percent annually to NT$946 million over the period. Earnings per share were NT$0.89.
TTY Biopharm shares yesterday gained 0.49 percent to NT$102.5, outperforming the 0.05 percent fall of the TPEX, the local bourse for firms with small and medium capitalization, the market’s data showed.
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