Orient, Beijing Tide ink deal
Drugmaker Orient Pharma Co (友霖生技) yesterday said that it inked a deal with Beijing Tide Pharmaceutical Co (北京泰德製藥) to form a partnership for a dementia treatment drug.
In a filing with the Taiwan Stock Exchange, Orient Pharma said it would transfer technology knowledge to Beijing Tide and authorize the Chinese pharmaceutical company to manufacture the drug in China, as well as register the drug in both China and the US.
If the drug gains regulatory approval in China, Beijing Tide would be granted sole distribution rights for the drug in China, and the firm would provide Orient Pharma with milestone payments and royalties, the filing said. Orient Pharma would be in charge of selling the drug in the US market and share certain profits from US sales with Beijing Tide, it added.
US ruling clears nail firms
The Ministry of Economic Affairs on Friday welcomed the US Department of Commerce’s preliminary ruling that Taiwan’s steel nail firms have not engaged in any dumping activity in the US market.
The Department of Commerce said on Thursday that it found that mandatory respondents PT Enterprises Inc (裕鐵企業) and Quick Advance Inc had not sold certain steel nails in the US market at unfairly low prices. Therefore, the department said it had decided not to impose any anti-dumping tariffs against the Taiwanese exporters.
The US government is scheduled to issue a final determination on the anti-dumping investigations by May 8 next year.
Exports might hit new record
Export orders for last month have been forecast to reach a record level, in part because of strong demand for Apple Inc’s iPhone 6 and iPhone 6 Plus, the Ministry of Economic Affairs said on Saturday.
Orders last month could hit US$46 billion, compared with US$44.91 billion in October, and help record year-on-year growth in export orders for the 10th successive month, the ministry said.
The ministry previously predicted that export orders for this year would hit US$480 billion, compared with US$442.93 billion last year.
The ministry is scheduled to release the export order data today.
HTC to release new 4G Desire
HTC Corp (宏達電) plans to add a new phone to its mid-tier Desire series this week that would be compatible with 4G LTE on all 4G frequency bands (700/900/1800MHz) used in Taiwan.
Sales of the new device are scheduled to begin locally on Wednesday, HTC said, and would be the company’s first addition to the Desire family since introducing the large-screen Desire 820 dual-SIM card model early last month.
The new Desire 820 model, which only allows one SIM card, is powered by a faster 64-bit eight-core processor that can utilize more physical memory and improve user experience, according to HTC.
The new model is set to be a departure from the 5.5-inch Desire 820 dual-SIM, which offers dual SIM card support, but does not implement 4G LTE in all of the frequency bands used in Taiwan.
Adata repurchases shares
Adata Technology Co (威剛科技), the nation’s top DRAM module maker, has spent NT$300 million (US$9.51 million) on its latest share buyback program to shore up its stock price.
The company said on Friday that it has repurchased 5.8 million shares, or 64.5 percent of a buyback program announced in October, at NT$51.88 per share. Adata said it would transfer the shares to employees in an effort to boost worker morale.
Originally, the company planned to repurchase 9 million shares — at between NT$35.49 and NT$93.08 per share — from Oct. 20 to Friday on the open market.
Hotai to up stake in Kuotu
Hotai Motor Co (和泰汽車), which distributes Toyota and Lexus cars in Taiwan, said on Thursday that it plans to inject NT$836.27 million into subsidiary Kuotu Motor Co (國都汽車), which runs retail shops for Hotai.
Kuotu Motor would use the money to set up more shops in Taiwan and remodel its current retail stores, according to Hotai.
After the transaction closes on Wednesday, Hotai’s stake in Kuotu would increase to 20.05 percent from 6.39 percent, the company said in a filing with the Taiwan Stock Exchange.
BULK PURCHASE: The French chain and Hong Kong-based Dairy Farm International reached a deal covering 224 stores, which is expected to be finalized by year’s end Carrefour SA yesterday announced it would acquire Wellcome Taiwan Co (惠康百貨) for 97 million euros (US$108.33 million), and bring all the Wellcome supermarkets (頂好超市) and Jasons Market Place stores nationwide under its banner within 12 months of the deal closing. The France-based hypermarket chain reached an agreement with Hong Kong-based Dairy Farm International Holdings (牛奶國際控股), the pan-Asian retailer that launched Wellcome Taiwan in 1987. The transaction involves 199 Wellcome supermarkets, which have average sales areas of 420m2 and 25 high-end Jasons Market Place stores, which have an average sales area of 820m2, as well as a warehouse in Taoyuan, Carrefour Taiwan (家樂福)
‘ONE-STOP SHOP’: A Miaoli official said that the factory in the Jhunan section of the Hsinchu Science Park would create more than 1,000 jobs and boost prosperity A new high-end IC packaging and testing plant planned by contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) in Miaoli County is expected to start operations in the middle of next year, Miaoli County Commissioner Hsu Yao-chang (徐耀昌) said. Hsu wrote on Facebook that TSMC, the world’s largest pure wafer foundry operator, would invest NT$303.2 billion (US$10.1 billion) to build the plant, the largest-ever single investment in Taiwan. However, TSMC declined to disclose the financial terms of the deal, while a company board meeting on May 12 approved a spending plan worth NT$168.2 billion as part of its investment plans. Construction of the
SCATTERED: Production would be dispersed among a number of countries, which would bring an end to so-called world factories, Hon Hai chairman Young Liu said Decentralized production would be the new focus in manufacturing, Hon Hai Precision Industry Co (鴻海精密) chairman Young Liu (劉揚偉) yesterday told an online forum held by the Market Intelligence & Consulting Institute (MIC, 產業情報研究所). “The COVID-19 pandemic exerted a heavy impact on supply chains as well as production ... [production] would no longer be concentrated in solely one country, this is the end of what we used to call world factories,” Liu said during a panel discussion hosted by MIC director Victor Tsan (詹文男). As the US and China continue to dominate and sway international relations, the rest of the world is
PLANNED OUT: The government is lifting sale and export restrictions on 60% of the 20 million masks made daily, but people can still make purchases using their NHI cards Twenty thousand boxes of 50 masks each would be on sale at FamilyMart convenience stores starting tomorrow, Taiwan FamilyMart Co Ltd (全家便利商店) said yesterday. A box of 50 masks would cost NT$249 for those with FamilyMart memberships and NT$299 for those without, with no limits placed on how many boxes a person can buy, the company said. Convenience store chain operator Hi-Life International Co Ltd (萊爾富) said that it would also start selling masks from tomorrow. It has yet to announce details about prices and quantity. Hypermarket chain operator Carrefour Taiwan (家樂福) said that it would start selling packs of five