Drug maker SCI Pharmtech Inc (旭富製藥) expects both sales and profit to grow 10 percent this year on the back of the potential for growth of its materials for the manufacture of anti-depressants.
As SCI clients enter the pharmaceutical market, sales of the firm’s Duloxetine — an active pharmaceutical ingredient in anti-depressants — will rise significantly, the company said.
“The patent of a major anti-depression drug is going to expire this year and many of our clients are trying to file drug permits to start competing in this sector,” SCI Pharmtech spokesman Deiter Yang (楊文禎) said yesterday.
SCI is one of the nation’s leading active pharmaceutical ingredient providers and has expanded into diet, anti-depression and HIV/AIDS medications in recent years to diversify its sources of revenue.
The company also plans to raise NT$1 billion (US$33.86 million) for new product development if its board approves the plan tomorrow.
“We are facing a capacity shortage because our sales are rising so rapidly,” chairman Wu Yon-lian (吳永連) said.
The company’s NT$64.58 million in pretax profit last quarter was 4.85 percent lower than the NT$67.71 million posted a year ago and 3.02 percent less than the NT$66.6 million it posted the previous quarter. Revenue declined 6.36 percent to NT$336.92 million from NT$358.35 million a year ago, but rose 8.91 percent from NT$309.35 million a quarter ago.
SCI Pharmtech shares rose 0.43 percent to NT$70.8 in Taipei trading yesterday.