ScinoPharm, an active pharmaceutical ingredient (API) specialist, today announced audited record results for its fiscal year 2009. The company posted NT$3.791 billion in revenue, an increase of 20.54% over 2008. The company posted after-tax profit of NT $1.041 billion, an increase of approximately 19.37% over 2008.
The increase was driven by the continued strong sales of its anti-cancer and other therapeutic treatments products, as well as increased demands from Europe, Japan, Korea and India. This marks the tenth consecutive year of double digit revenue growth.
"We delivered solid performance in 2009 and look forward to growing our top and bottom line in 2010," said Dr. Jo Shen, President and CEO of ScinoPharm. "Our performance is directly attributed to our core strategy of focusing on high value and high technological barrier products, which will further ScinoPharm's market leadership position in generic APIs," Dr. Shen added.
2010 Outlook
ScinoPharm has several new API products for generic drugs scheduled for commercialization in 2010, including products for breast cancer, prostate cancer, and ovarian cancer. In addition, two New Chemical Entity (NCE) projects are expected to get approval from FDA for commercial launch.
ScinoPharm has also accelerated its pace by developing cell lines and lab processes for seven biosimilars. Among them are monoclonal antibodies used in the treatment of cancer and rheumatoid arthritis. ScinoPharm also continues to expand with the construction of a new production facility and a new R&D site in Changshu, Jiangsu Province, scheduled to be completed in 2011.
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