Bora Pharmaceuticals Co. saw its third-quarter profit nearly double to NT$1.45 billion (US$46 million), driven by its recent acquisitions and growing US market presence.
The Taiwanese drugmaker’s earnings per share reached NT$14.15 in the quarter, while revenue hit a record high following the integration of its Baltimore sterile injection facility. The plant, incorporated into the company’s global CDMO operations in late August, contributed about NT$450 million to overall sales.
The company’s expansion strategy includes the recent acquisition of Upsher-Smith Laboratories and investment in Taifu Biopharma. These moves helped Baorui secure more than 90% of its global sales from the US market, where it launched seven new products this year.
The FDA’s recent approval of Upsher-Smith’s generic Deflazacort tablets could provide another boost, with the original drug generating annual sales of about US$200 million. The generic version is set to launch in early 2024.
Bora’s gross margin improved to 42% in the third quarter, reflecting better cost management and product mix optimization. The company’s nine-month net profit rose 35% to NT$3.34 billion, setting the stage for a record year.
