Bora Pharmaceutical has disclosed its financial achievements for 2023, showcasing a remarkable performance across the board. The company’s revenue soared to 14.2 billion yuan, marking a 35% increase from the previous year. This growth is complemented by a substantial rise in gross profit margin to 49% and a more than 170% surge in operating profit, reaching 5.25 billion yuan. The after-tax net profit stood at 3.07 billion yuan, with an exceptional 30.20 yuan earnings per share. Notably, Bora has set a new benchmark in Taiwan’s pharmaceutical sector with a record-high cash dividend of 12 yuan per share.
Chairman Sheng Baoxi highlighted Bora’s operational strengths, particularly in its CDMO sector, where six small molecule preparation plants produced around 1.4 billion drug doses in 2023. Additionally, the company’s large molecule facility has successfully undertaken numerous customer projects, further solidifying its market position. The Dexlansoprazole DR Capsule, a leading gastroesophageal reflux medication, was particularly instrumental in driving the company’s profitable growth amidst the competitive U.S. generic drug market.
Bora’s strategic initiatives, including the early launch of high-demand products and tactical mergers and acquisitions, have effectively mitigated operational risks and fortified its product portfolio. The company’s agency role for international brands like BioRefed has also seen exponential growth, with key drugs significantly exceeding sales expectations.
The impending acquisition of Upsher-Smith and the integration with Chenhui Biotech are poised to enhance Bora’s market reach and product offerings, promising continued growth and innovation in the pharmaceutical industry. With these strategic moves, Bora is set to expand its influence and uphold its commitment to delivering high-quality healthcare solutions.
