TTY Biopharm, a leading pharmaceutical company, has unveiled an ambitious growth strategy focusing on broadening its product range and penetrating key international markets. General Manager Hou Jinglan announced during a recent press conference that over the next two to three years, TTY Biopharm will introduce more than ten new products across various categories, including cancer drugs, antibiotics, and vaccines. This expansion is a testament to TTY Biopharm’s commitment to addressing critical healthcare needs and fortifying its presence in the global pharmaceutical landscape.
The spotlight is on Lipo-AB, Toyo’s proprietary microliposomal amphotericin drug, which has already made significant inroads into the U.S. market. The company is optimistic about gaining entry into the European Union market within the next two years, marking a pivotal step in its international growth ambitions.
Toyo’s financial performance underscores its strong market position. The company reported a consolidated revenue of NT$5.506 billion last year, marking an 8.8% increase from the previous year, and a net profit of NT$1.129 billion, up 3.1% annually. The first two months of this year have already seen an 18.4% increase in revenue, signaling a positive trajectory for the company’s financial health.
A significant portion of last year’s revenue growth was driven by sales in antibiotics and anesthesia drugs, alongside the outsourcing of OEM products, particularly the overseas sales of Lipo-AB. Hou Jinglan highlighted the company’s focus on the oncology segment, with plans to launch new treatments for multiple myeloma, lymphoma, breast cancer, lung cancer, and other solid tumors. The goal is to introduce four to five new cancer treatments to the market, enriching TTY’s oncology portfolio.
Furthermore, TTY’s strides in the antibiotic segment are noteworthy, with Polymyxin B receiving a domestic new drug license this year. The company anticipates the introduction of three to four additional antibiotics, aiming to strengthen its position in the domestic new drugs market. On the vaccine front, Toyo is set to expand its product line with the launch of new vaccines this year, further diversifying its offerings.
As TTY Biopharm navigates its way through regulatory approvals and market expansions, the pharmaceutical firm is well-positioned to achieve significant milestones in its journey towards global expansion and innovation in healthcare solutions. The company’s strategic focus on developing and launching new products, coupled with its efforts to enter new markets, positions Toyo for sustained growth and leadership in the pharmaceutical industry.
