TTY Biopharm Co (台灣東洋藥品) yesterday gave an upbeat outlook on its earnings for this year, as the maker of “super generic” drugs further secures its leading position in the manufacture of oncology and anti-infective medicines. The local company is also tapping into the market for multiple sclerosis.
Last month, the Taipei-based company announced that with Netherlands-based 2-BBB Medicines BV, it has established a joint venture company, EnhanX Inc (殷瀚生技).
The joint venture is to develop 2B3-201, a neuro-inflammation treatment initially focused on people with multiple sclerosis (MS) who suffer acute relapses, the company said.
In addition, the partnership is expected to speed up the development and regulatory approval processes, TTY Biopharm said.
TTY Biopharm said that it would leverage its 20-year experience in developing specialized injectable liposomal formulations, as well as microsphere formulations, to control drug release in advancing 2B3-201 through its product pipeline.
The drug is a targeted therapy for MS that is designed to cross the blood-brain barrier — a highly selective semipermeable membrane that separates circulating blood from extracellular fluid in the central nervous system.
Conventional treatments for diseases such as MS require large dosing to penetrate the blood-brain barrier, resulting in severe side effects, the company said.
However, its proprietary fabrication technologies are able to prevent the triggering of unwanted autoimmune responses, which helps to overcome the blood-brain barrier and effectively deliver the medicine to the brain, the company said.
Apart from its controlling stake in the joint venture, TTY Biopharm said that it also controls the proprietary manufacturing process and therefore has a significant claim on any profits the drug makes.
The company’s net income in the first quarter dropped 21.35 percent year-on-year to NT$221 million (US$7.34 million), while sales rose 3.61 percent annually to NT$946 million over the period. Earnings per share were NT$0.89.
TTY Biopharm shares yesterday gained 0.49 percent to NT$102.5, outperforming the 0.05 percent fall of the TPEX, the local bourse for firms with small and medium capitalization, the market’s data showed.
Hon Hai Precision Industry Co (鴻海精密) yesterday said that its research institute has launched its first advanced artificial intelligence (AI) large language model (LLM) using traditional Chinese, with technology assistance from Nvidia Corp. Hon Hai, also known as Foxconn Technology Group (富士康科技集團), said the LLM, FoxBrain, is expected to improve its data analysis capabilities for smart manufacturing, and electric vehicle and smart city development. An LLM is a type of AI trained on vast amounts of text data and uses deep learning techniques, particularly neural networks, to process and generate language. They are essential for building and improving AI-powered servers. Nvidia provided assistance
GREAT SUCCESS: Republican Senator Todd Young expressed surprise at Trump’s comments and said he expects the administration to keep the program running US lawmakers who helped secure billions of dollars in subsidies for domestic semiconductor manufacturing rejected US President Donald Trump’s call to revoke the 2022 CHIPS and Science Act, signaling that any repeal effort in the US Congress would fall short. US Senate Minority Leader Chuck Schumer, who negotiated the law, on Wednesday said that Trump’s demand would fail, while a top Republican proponent, US Senator Todd Young, expressed surprise at the president’s comments and said he expects the administration to keep the program running. The CHIPS Act is “essential for America leading the world in tech, leading the world in AI [artificial
DOMESTIC SUPPLY: The probe comes as Donald Trump has called for the repeal of the US$52.7 billion CHIPS and Science Act, which the US Congress passed in 2022 The Office of the US Trade Representative is to hold a hearing tomorrow into older Chinese-made “legacy” semiconductors that could heap more US tariffs on chips from China that power everyday goods from cars to washing machines to telecoms equipment. The probe, which began during former US president Joe Biden’s tenure in December last year, aims to protect US and other semiconductor producers from China’s massive state-driven buildup of domestic chip supply. A 50 percent US tariff on Chinese semiconductors began on Jan. 1. Legacy chips use older manufacturing processes introduced more than a decade ago and are often far simpler than
Gasoline and diesel prices this week are to decrease NT$0.5 and NT$1 per liter respectively as international crude prices continued to fall last week, CPC Corp, Taiwan (CPC, 台灣中油) and Formosa Petrochemical Corp (台塑石化) said yesterday. Effective today, gasoline prices at CPC and Formosa stations are to decrease to NT$29.2, NT$30.7 and NT$32.7 per liter for 92, 95 and 98-octane unleaded gasoline respectively, while premium diesel is to cost NT$27.9 per liter at CPC stations and NT$27.7 at Formosa pumps, the companies said in separate statements. Global crude oil prices dropped last week after the eight OPEC+ members said they would
RSS