TTY Biopharm, under the leadership of Chairman Lin Chuan, held its regular shareholder meeting today, approving a cash dividend of NT$3.5 per share. General Manager Sara Hou outlined the company’s strategic focus on internationalizing difficult generic drugs, introducing new authorized drugs, and developing self-made new drugs. These efforts are aimed at boosting TTY’s presence in the vaccine market.
In 2023, TTY Biopharm achieved a revenue of NT$5.5 billion, marking an 8.8% increase from the previous year. This growth was driven by three core strategies:
Export of Difficult Generic Drugs: TTY Biopharm has seen strong export sales, particularly with its Lipo-AB product in the United States. The company continues to optimize its manufacturing processes, increase production capacity, and expand its global footprint.
Authorized Introduction of New Drugs: Last year, TTY Biopharm launched the world’s first targeted drug for biliary tract cancer, which has been included in Taiwan’s health insurance benefits. Additionally, the company has seen significant success with its quadrivalent influenza vaccine, which holds a 35% market share in the self-paid vaccine segment.
Development of Self-Made New Drugs: Encouraged by government policies, TTY is committed to developing new drugs in-house. This strategy aims to drive long-term growth and diversification, ensuring the company’s steady progress towards international markets.
Hou Jinglan emphasized TTY Biopharm’s efforts in the vaccine market, highlighting the 35% market share for its self-paid influenza vaccines. These include the quadrivalent cell vaccine and the adjuvanted influenza vaccine. Although the adjuvanted vaccine for individuals over 65 has a smaller market share, TTY is actively working to secure tenders for publicly funded influenza vaccines to increase its influence.
TTY Biopharm’s strategic initiatives, coupled with its commitment to innovation and international expansion, position the company for continued growth and success in the competitive pharmaceutical landscape.
