17 February 2014 | Company results | By BioSpectrum Bureau
Singapore: ScinoPharm, Taiwan-based active pharmaceutical ingredient (API) specialty company, has clocked $167.60 million in revenue, up 11 percent over 2012 with after-tax net profits of $42.40 million, an increase of nine percent as compared to the same period in 2012.
According to the company, in continuation of the previous year's sales growth momentum, generic drug sales have remained buoyant. With stable growth in contract research and manufacturing business as well as its strengthened operational efficiency and cost control, outstanding financial performance has been accomplished. In regards to the overall performance over the past year, APIs for oncological and central nervous system (CNS) treatments have achieved steady sales.
Among them, Irinotecan, which is used for the treatment of colorectal cancer, has nearly tripled in sales as compared to the previous year, thus making it the product with the highest revenue for the company last year. Furthermore, Exemestane, used for the treatment of breast cancer, has benefited from a large dedicated production line used exclusively for manufacturing steroids, which was completed at the end of 2012. It significantly contributed to company sales.
In terms of market performance, ScinoPharm continued to
develop the generics market in Europe and the US and managed to sustain its current leadership position as a supplier of oncological and CNS APIs. In recent years, the company has engaged in highly focussed marketing efforts in Japan and India as well as significant marketing and manufacturing deployment in China, all of which have contributed to the company's grasp of business opportunities in these emerging markets, especially Japan's generics market.
Owing to Irinotecan's steady growth in the Japanese market and Gemcitabine for the treatment of non-small-cell lung cancer that entered mass production, ScinoPharm has doubled its sales performance in the Japanese market. The company opened an office in Tokyo in July of last year to more effectively capture a part of Japan's emerging generics market.
ScinoPharm has developed nearly 70 products, 23 of which have been launched in the market. By 2014, seven additional API items are expected to be launched in the US, Canadian, European and Japanese markets. These include oncology drugs and drugs for MDS, anti-neoplastic, HBV, malignant hyperthermia, osteoporosis and other indications.