PHARMACEUTICALS
Lotus upgrades facility
Generic drugmaker Lotus Pharmaceuticals Co (美時化學製藥) yesterday announced that it has begun upgrading its manufacturing facility in Nantou County to expand the production of oral oncology products. The upgrade is expected to be completed in five years and cost tens of millions of US dollars, the company said, adding that its board has approved capital expenditure of US$11 million for this year. The Nantou site has been audited by local, US, EU and Japanese regulatory authorities, enabling it to manufacture products for nearly every market in the world, the firm said. In addition to standard solid oral dose manufacturing, the company can produce hormonal products, soft gelatin capsules, and cytotoxic and high-potency molecules, it said.
TECHNOLOGY
Health2Sync launches app
Taipei-based Health2Sync (慧康生活科技) yesterday launched HealthPass, an app that grants its users full control of their health data using blockchain technology. The start-up teamed up with Bitmark Inc, a Taipei-based blockchain developer, to register users’ health data as their personal digital property. Users would be able to selectively allow certain companies and services to access their health data as part of a monetization scheme. The start-up has also tapped CTBC Bank (中信銀行) to use the lender’s blockchain-based solution to enable transactions resulting from monetization. With the help of health data analysis, insurers would be able to create tailored products based on each user’s health, the firm said.
PHARMACEUTICALS
Pharmally sales up 20.27%
Pharmally International Holding Co (康友製藥), a maker of large-volume parenteral solutions for vaccines and intravenous medicines, yesterday announced that net income last year rose 17.44 percent year-on-year to NT$1.1 billion (US$35.59 million), or earnings per share of NT$14.29, while sales rose 20.27 percent to NT$5.18 billion. Pharmally shares closed unchanged at NT$214 in Taipei trading yesterday. The shares last year saw a spike in volatility, surging to more than NT$500 on progress made at its Indonesian poultry vaccine production plant, before falling below NT$140 after a filing revealed that company officials were trimming their holdings.
ELECTRONICS
Pegatron revenue slumps
Pegatron Corp (和碩) on Monday reported that revenue last month dropped 33.4 percent month-on-month, but rose 6.2 percent year-on-year to NT$81.65 billion. Revenue in the first two months rose 3.2 percent year-on-year to NT$204.28 billion, it said. The Jakarta Post reported that Pegatron’s new plant in Indonesia is expected to begin operations next month. Separately, Lite-On Technology Corp (光寶科技) on Monday reported that revenue last month declined 30.33 percent month-on-month and 16.6 percent year-on-year to NT$10.87 billion. Revenue in the first two months also fell 10.36 percent to NT$26.48 billion.
ELECTRONICS
Chungwa Picture shares fall
A plan to lay off 2,500 employees sent shares in Chunghwa Picture Tubes Ltd (華映) into a tailspin yesterday, dealers said. The heavy selling emerged after the Taiwan Stock Exchange said that the financially troubled panel maker, which has filed for bankruptcy protection, would have to delist regardless of whether the restructuring plan is approved by the courts. Shares fell by the daily limit of 10 percent to close at NT$0.54.
CLIENTS’ RIGHTS: Banking Bureau Deputy Director-General Lin Chih-chi said the buyer and Citibank Taiwan would need to disclose changes to branch operations DBS Bank Taiwan (星展台灣), the local unit of Singapore-based DBS Group Holdings Ltd, has reportedly won a bid to acquire Citibank Taiwan Ltd’s (花旗台灣) consumer banking business, but the two companies declined to confirm the report yesterday. Citibank Taiwan’s consumer banking business is to be sold for about NT$60 billion (US$2.17 billion) to DBS Taiwan, the Chinese-language Economic Daily News reported on Sunday. DBS Taiwan and its parent company are expediting the negotiations with the seller’s US-based parent company, while other local bidders, including Fubon Financial Holding Co (富邦金控) and Cathay Financial Holding Co (國泰金控), have dropped their bids, the report said. Citibank
Intel Corp yesterday said it has placed its first order with ASML Holding NV to purchase the semiconductor industry’s first TWINSCAN EXE: 5200 system, as the US chip giant aims to compete with Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) in advancing to 2-nanometer process technology. The Dutch semiconductor equipment maker’s TWINSCAN EXE:5200 system is an extreme ultraviolet (EUV) high-volume production system with a high numerical aperture (NA) that can produce 220 wafers per hour, more than the 150 wafers that its previous generation TWINSCAN EXE:5000 system can handle. ASML aims to launch the new system in 2024. ASML president and chief
Siltronic AG cast doubt on a planned US$5.3 billion takeover by GlobalWafers Co (環球晶圓), saying the German Ministry of Economic Affairs and Climate Action’s feedback so far was opaque and offered no clear resolution on how to win approval for the deal. During recent discussions, the companies did not receive any information as to whether and under which conditions a clearance for the takeover might be issued, the German company said in a regulatory filing on Friday following a news report on remedies the companies have offered. In the ministry’s view “in this case, a mitigation agreement is apparently not suitable
BELLWETHER COMPANY: A failed fundraiser at Country Garden, thus far unaffected by issues at Evergrande, is feared to prompt widespread repricing of developer stocks A crisis engulfing China’s property sector is affecting its biggest developer, with Country Garden Holdings Co’s (碧桂園) shares and bonds hammered amid fears that a reportedly failed fundraising effort might be a harbinger of waning confidence. Country Garden is one of the few remaining large, better-quality private developers that had been largely unscathed by the liquidity crunch, even as peers, such as Shimao Group Holdings Ltd (世茂集團), saw dramatic reversals in their credit ratings. The firm is viewed as a bellwether for contagion risk, as unprecedented levels of stress in the offshore credit market threaten to drag good credits down alongside bad
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