API Maker ScinoPharm Registers Record Revenue in 2010

Taipei, April 7, 2011 (CENS)--Scino Pharm Taiwan Ltd. (ScinoPharm), an active pharmaceutical ingredient (API) specialist, recently claimed that it posted record results for 2010, registering revenue of NT$3.89 billion (US$129.7 million), a 2.53% year-on-year (YoY) increase, but with after-tax earnings declining a little to hit NT$1.04 billion (US$34.7 million), or earnings-per-share (EPS) of NT$1.81 (US$0.06).

The company pointed out several unpredictable challenges last year, including substantial budget cuts to healthcare spending in many countries, the currency-exchange fluctuations, and skyrocketing raw-material prices.

Jo Shen, president and CEO of ScinoPharm, said that in the past few years her company has been investing in the development of highly-potent oncology API products and has expanded exports of over 13 products to the United States, Canada, Europe and Japan.

ScinoPharm is expected to bring several anti-cancer products to market this year, also claiming to be involved in development of highly complex manufacturing technology as protein, carbohydrate chemistry and macro cyclic compounds, and expanding its small-molecule core technologies to peptides and proteins.

The API maker also said that favorable global market is providing ample opportunities for future growth. The coming healthcare reforms in China and the U.S., and impending peak in patent expirations of many drugs generate strong market demand for generic drugs, of which ScinoPharm is preparing to take advantage.

ScinoPharm is constructing a new R&D center in Changsu Economic Development Zone, Jiangsu Province, China, with the first-stage construction expected to be completed by the fourth quarter. The company added that the construction of GMP-qualified API facilities will be completed by the end of 2012 to greatly increase capacity and product range.