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Orient Europharma announces Q3 2009 financial results
EPS of NT$2.68
Taipei, Taiwan, Oct. 30, 2009 – Orient Europharma Co. Ltd. (OE, Taiwan
OTC: 4120) today announced third quarter results. OE reported consolidated net sales
of NT$2.82 billion, consolidated operating earnings of NT$310 million, and earnings
Net sales in Taiwan amounted to NT$2.321 billion. Gross profit grew 3
percent, while operating profit totaled NT$287 million. After-tax net profits saw a
slight increase of 2 percent to NT$183 million.
Oncology drugs are among the main drivers in today’s global pharmaceutical
industry. OE’s oncology division reported Q3 sales of more than 20 percent compared
with the same period last year. The company is currently developing pancreatic cancer
drug Nanoplatin®, head and neck cancer drug Multikine®, as well as Loramyc®, an
immunocompromised patients such as those with HIV and cancer.
Sales of hypertension drug Zanidip, Androgel testosterone gel, and diabetes
combination therapy GlucoMet grew nearly 17 percent in Q3. As the first
combination therapy in Taiwan for the treatment of diabetes mellitus developed by
OE, GlucoMet contains micronized glyburide, which can lower blood glucose by
stimulating the release of insulin, and metformin, which can control blood glucose by
delaying its uptake and increasing its utilization. GlucoMet’s high efficacy, lower
dosage requirement, and increased convenience have contributed to its continued sales
OE’s consumer healthcare division focuses on preventative medicine and
health maintenance, offering a diverse range of products in these areas. Division sales
in the third quarter increased by 60 percent over the same period last year. OE also
introduced Buccotherm dental spray as well as Buccotherm toothpaste, unique
products based on France’s Castéra-Verduzan Thermal springwater that are suitable
for all age groups. The potential of OE’s KariMed Pycnogenol series has been
elevated as consumers became more health conscious due to the recent outbreak of
The spread of seasonal allergies has heightened consumers’ interest in skin care
products such as OE’s A-Derma series. Developed with the patented extract Rhealba
the Oats, A-Derma skin care products are suitable for sensitive, irritated, and damaged
skins. OE further expects to see an increase in sales of injectable hyaluronic acid
products in the winter, which coincides with the peak season for dermo-cosmetics.
OE’s subsidiary Orient Pharma Co. Ltd. has been recognized as a “biotech and
new pharmaceutical company” in accordance with Taiwan’s Biotech and New
Pharmaceutical Development Act. The recognition proves that its personnel,
technology and capital are up to standards. Orient Pharma is committed to the R&D,
clinical studies, and manufacturing of pharmaceuticals. The construction of the new
plant in Central Taiwan Science Park is due to complete, and OE-developed products
will enter production phase next year.
Experience has shown that the fourth quarter is traditionally OE’s peak sales
season and the company is optimistic about reaching annual goals. With Taiwan’s
continued support for the biopharmaceutical industry, OE will keep expanding and
enter the global market in order to create maximum business value.
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