TAINAN, Taiwan, Nov. 7 /Xinhua-PRNewswire/ -- ScinoPharm Taiwan, the local top provider of API manufacturing services, reported revenues of US$31.5 million for the first nine months of 2006, surpassing the annual revenue of US$ 31.3 million in 2005 and up 53% from US$20.5 million for the same period last year. The company also posted a net income of US$1.06 million for the first three quarters of 2006, a major turn-around from a net loss over US$9.2 million during the same period in 2005.
ScinoPharm’s total sales for the third quarter of 2006 reached US$ 11.8 million, more than double US$ 5.4 million in the same quarter last year. The exceptional performance in this quarter recorded the 13th consecutive quarter of double-digit growth for the company.
ScinoPharm’s profitable growth is mainly from the strong demands for the company’s best-selling API products in markets that are no longer constrained by substance patents.
“Specialized in manufacturing APIs of high potency including cytotoxics, ScinoPharm has developed a broad product portfolio in the oncology therapeutic category such as paclitaxel, one of the biggest selling cancer drugs worldwide,” said Dr. Jo Shen, ScinoPharm President and CEO.
“Following our API products’ successful introduction into major markets in US, EU, Japan, Australia, etc. in recent years, ScinoPharm has established a strong global customer base which helps the company to deliver record results,” Dr. Jo Shen added.
The company’s performance in the fourth quarter is projected to remain strong. Boosted by the strength of generic drugs sales in many top-selling drugs going off-patent in the next few years, the API industry is expected to continue a positive growth.
ScinoPharm will also benefit from its expanding CRO business with two additional products moving to commercialization and currently the company is the exclusive provider of the drug substance for these two commercialized products.
With established expertise and experience in R&D and clinical supplies for the New Chemical Entity (NCE), ScinoPharm has been contracted for more than 50 NCE projects. Among these projects, the majority started from Phase II while four have entered into Phase III with good potential to successfully move into commercialization. As the global trend toward R&D outsourcing continues, ScinoPharm expects to maintain a strong performance from its CRO service operations.
About ScinoPharm Taiwan
ScinoPharm Taiwan Ltd. is a leading process R&D and API manufacturing service provider to the global pharmaceutical industry. With cGMP production facilities, ScinoPharm offers a wide portfolio of services ranging from custom synthesis for early phase pharmaceutical activities to brand companies as well as APIs for the generic industry.
ScinoPharm currently serves more than 130 customers worldwide, including some of the largest brand companies and almost all major generic companies.
ScinoPharm has also developed a broad portfolio of API products in oncological, hormonal, antibiotics, and CNS arenas. To enable timely market launch, the company has been filing DMFs in as many countries as possible. To date, it has over 135 DMF registrations worldwide, 21 of which were filed in the US. For more information, please visit the company’s web site at http://www.scinopharm.com .
Media Relations Contact: ScinoPharm Taiwan Jessie Wang Corporate Communication Tel: +886-6-505-2888 #2880 Fax: +886-6-505-2898 Email: Jessie.wang@scinopharm.com.tw Website: http://www.scinopharm.com
Taiwan Ltd.
ScinoPharm
CONTACT: Jessie Wang of ScinoPharm Taiwan, +866-6-505-2888 Ext. 2880, orfax, +886-6-505-2898, or Jessie.wang@scinopharm.com.tw
Web site: http://www.scinopharm.com/
