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.
Intel Corp chief executive officer Lip-Bu Tan (陳立武) is expected to meet with Taiwanese suppliers next month in conjunction with the opening of the Computex Taipei trade show, supply chain sources said on Monday. The visit, the first for Tan to Taiwan since assuming his new post last month, would be aimed at enhancing Intel’s ties with suppliers in Taiwan as he attempts to help turn around the struggling US chipmaker, the sources said. Tan is to hold a banquet to celebrate Intel’s 40-year presence in Taiwan before Computex opens on May 20 and invite dozens of Taiwanese suppliers to exchange views
Application-specific integrated circuit designer Faraday Technology Corp (智原) yesterday said that although revenue this quarter would decline 30 percent from last quarter, it retained its full-year forecast of revenue growth of 100 percent. The company attributed the quarterly drop to a slowdown in customers’ production of chips using Faraday’s advanced packaging technology. The company is still confident about its revenue growth this year, given its strong “design-win” — or the projects it won to help customers design their chips, Faraday president Steve Wang (王國雍) told an online earnings conference. “The design-win this year is better than we expected. We believe we will win
Chizuko Kimura has become the first female sushi chef in the world to win a Michelin star, fulfilling a promise she made to her dying husband to continue his legacy. The 54-year-old Japanese chef regained the Michelin star her late husband, Shunei Kimura, won three years ago for their Sushi Shunei restaurant in Paris. For Shunei Kimura, the star was a dream come true. However, the joy was short-lived. He died from cancer just three months later in June 2022. He was 65. The following year, the restaurant in the heart of Montmartre lost its star rating. Chizuko Kimura insisted that the new star is still down
While China’s leaders use their economic and political might to fight US President Donald Trump’s trade war “to the end,” its army of social media soldiers are embarking on a more humorous campaign online. Trump’s tariff blitz has seen Washington and Beijing impose eye-watering duties on imports from the other, fanning a standoff between the economic superpowers that has sparked global recession fears and sent markets into a tailspin. Trump says his policy is a response to years of being “ripped off” by other countries and aims to bring manufacturing to the US, forcing companies to employ US workers. However, China’s online warriors
RSS