Pharmaceutical maker ScinoPharm Taiwan Ltd (台灣神隆) is expected to see its profit increase by 12.7 percent this year on the back of several new drug launches after reporting record earnings for last year, SinoPac Securities Investment Service Co (永豐投顧) forecast.
“We expect that the seven new drugs ScinoPharm Taiwan is about to launch this year will increase its profits since the company can always accurately forecast the timing of its new drug launches and it maintained good relationships with its major global clients, including Teva and Sandoz,” SinoPac Securities said in a report on Thursday.
ScinoPharm opened two local production lines at the end of last year, and the company’s sales of cancer drugs and central nervous system drugs, which account for 89 percent of its revenue, have grown steadily, the report said.
Based on SinoPac’s report, ScinoPharm plans to launch two drugs in Japan and five in the US this year.
SinoPac has predicted that the pharmaceutical maker would see its net profit increase 12.7 percent to NT$1.32 billion (US$44.29 million) this year, or earnings per share of NT$2.03. Revenue is also likely to climb 14.8 percent to NT$5.22 billion this year, it said.
However, SinoPac still retained the rating of ScinoPharm shares as “neutral” because of the high price-earnings ratio of its shares.
SinoPac suggested that investors interested in buying the stock wait until its share price goes down.
The forecasts came after ScinoPharm last week posted NT$1.17 billion in net profit last year, up 21.75 pecent from 2011. Earnings per share were NT$1.8 last year, compared with NT$1.51 the previous year.
Consolidated revenue increased 15.8 pecent to NT$4.57 billion last year from NT$3.95 billion a year ago because of rising production efficiency, higher yield rate of its products and the company’s move to outsource part of its drug production, ScinoPharm said on Wednesday.
The 15.8 percent revenue growth of the company last year was higher than the 1.6 percent growth in 2011 and 2.6 percent growth in 2010, according to the company.
ScinoPharm Taiwan said earlier this year that the Japanese government was encouraging hospitals there to use more generic drugs because they are cheaper, which is a business opportunity for ScinoPharm.
Furthermore, ScinoPharm Taiwan would also benefit from the Chinese government’s attempt to increase the Chinese medicine market by 20 percent a year and the higher standards China has imposed on drug manufacturing factories, SinoPac said.
Elon Musk’s lieutenants have reached out to chip industry suppliers, including Applied Materials Inc, Tokyo Electron Ltd and Lam Research Corp, for his envisioned Terafab, early steps in an audacious and likely arduous attempt to break into the production of cutting-edge chips. Staff working for the joint venture between Tesla Inc and Space Exploration Technologies Corp (SpaceX) have sought price quotes and delivery times for an array of chipmaking gear, people familiar with the matter said. In past weeks, they’ve contacted makers of photomasks, substrates, etchers, depositors, cleaning devices, testers and other tools, according to the people, who asked not to
Taichung reported the steepest fall in completed home prices among the six special municipalities in the first quarter of this year, data compiled by Taiwan Realty Co (台灣房屋) showed yesterday. From January through last month, the average transaction price for completed homes in Taichung fell 8 percent from a year earlier to NT$299,000 (US$9,483) per ping (3.3m²), said Taiwan Realty, which compiled the data based on the government’s price registration platform. The decline could be attributed to many home buyers choosing relatively affordable used homes to live in themselves, instead of newly built homes in the city’s prime property market, Taiwan Realty
JET JUICE: The war on Iran’s secondary effects have seen fuel prices skyrocket, knocking flight schedules down to earth in return as airlines struggle with costs Airline passengers should brace for more irritation in the next few months as carriers worldwide cancel flights and ground planes to cope with stratospheric increases in jet-fuel prices. Dutch flag carrier KLM is the latest company to cut its schedule, saying on Thursday that it would scrap 80 return flights at Amsterdam’s Schiphol Airport in the coming month. That puts it in the same league as United Airlines Holdings Inc, Deutsche Lufthansa AG and Cathay Pacific Airways Ltd, which have all pruned itineraries to mitigate costs. Global capacity for next month has been reduced by about 3 percentage points, with all
The government yesterday approved applications by Alphabet Inc’s Google to invest NT$27.08 billion (US$859.98 million) in Taiwan, the Ministry of Economic Affairs said in a statement. The Department of Investment Review approved two investments proposed by Google, with much of the funds to be used for data processing and electronic information supply services, as well as inventory procurement businesses in the semiconductor field, the ministry said. It marks the second consecutive year that Google has applied to increase its investment in Taiwan. Google plans to infuse NT$25.34 billion into Charter Investments Ltd (特許投資顧問) through its Singapore-based subsidiary Fructan Holdings Singapore Pte Ltd, and
RSS