Vaccine maker Adimmune Corp (國光生技) yesterday said net profit soared about 162 percent to NT$419 million (US$13.13 million) last quarter from NT$160 million a year earlier, benefiting from rising overseas demands for flu vaccines and contract manufacturing orders.
That was the second straight quarterly net profit made by the vaccine maker after swinging into a net profit of NT$45.3 billion in the second quarter, as it began shipping flu vaccines to local governments, the company said.
During the first three quarters, Adimmune accumulated net profits of NT$230 million, an improvement from losses of NT$251 million made during the same period last year, company data showed.
Earnings per share were NT$0.54 in the first three quarters, compared with losses of NT$0.59 per share a year earlier.
Overall, the company attributed the growth momentum to increases in orders and an improvement in its manufacturing process.
Adimmune earlier this year won a government bid to supply 3.27 million flu vaccines to the Ministry of Health and Welfare for NT$786 million. The third quarter was the peak season for the delivery of flu vaccines, it said.
The company also gained more orders for flu vaccines and flu vaccine ingredients from overseas markets, such as eastern Europe and Thailand. China had previously been the only overseas market, it said.
“Overseas demand is the main engine fueling revenue growth this year. We anticipate seeing our revenue from foreign markets surpass that from domestic market for the first time,” Adimmune said in a statement.
The company has accumulated NT$1.66 billion in revenue during the first three quarters, more than the revenue it made for the whole of last year.
Last year, it made NT$1.64 billion in revenue. Adimmune expects revenue to hit NT$2 billion for the whole of this year, it said.
“It is an achievable target, as we will continue delivering flu vaccines to local governments and begin shipping flu vaccines to China, and gain more revenue from our contract manufacturing business,” it said.
Next year, Adimmune plans to focus on producing flu vaccines in the second and third quarters, while concentrating on contract manufacturing services in the first and fourth quarters, aiming to make stable revenue each quarter, it said.
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