Bora Pharmaceuticals Co (保瑞藥業) is still looking at contract development and manufacturing organizations (CDMOs) as potential merger and acquisition (M&A) targets, as the company continues to expand its business scale, the medicine and healthcare product maker said yesterday.
The company has seen its market value surge by more than 50-fold in seven years through a series of strategic M&As, including acquiring Japan-based Eisai Co’s subsidiary and plant in Tainan’s Guantian District (官田) in 2013 and US-based Impax Laboratories Inc’s subsidiary and plant in Miaoli County’s Jhunan Township (竹南) in 2018.
“We expect to see new M&A opportunities emerge next year,” Chinese-language online news outlet Cnyes.com quoted Bora Pharmaceuticals chairman Bobby Sheng (盛保熙) as saying. “There are not many buyers in the US M&A market and the valuations of many CDMOs are much cheaper than before, which is relatively beneficial to us.”
Photo: CNA
Sheng made the remarks at a ceremony at the Taiwan Stock Exchange (TWSE), where the company made its share debut on the main board after transferring its listing from the Taipei Exchange.
Bora Pharmaceuticals shares fell 3.1 percent to close at NT$657, in line with losses across the main exchange. Prior to yesterday, the stock had surged more than 60 percent since the beginning of this year.
Due to the growing market demand for drugs, several major clients have already discussed placing more orders, Bora Pharmaceuticals said.
As a result, the company has furthered its acquisition efforts, including factories, companies and product portfolios, it said.
It would also continue to adjust product strategy at its subsidiary TWi Pharmaceuticals Inc (安成藥) in a bid to diversify away from generic drugs, after the unit in August acquired six brand product licenses and technologies from Morristown, New Jersey-based Almatica Pharma Inc, it said.
The new strategy would enable Bora to leverage its sales platforms to enter the brand product market, create a new revenue driver and improve its profit margin, as well as allow the company to have more resources for future investment, it said.
Bora Pharmaceuticals’ consolidated revenue grew 50.25 percent year-on-year to NT$13.25 billion (US$422.5 million) in the first 11 months of this year, ranking second among Taiwanese pharmaceutical companies, TWSE data showed.
Net profit in the first three quarters totaled NT$2.47 billion, up 149.43 percent from the same period last year, with earnings per share rising from NT$10.12 to NT$24.63 and gross margin improving from 35.02 percent to 48.16 percent, the 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