
TSH Biopharm Co., Ltd. (TW-8432) attended an institutional investor conference hosted by Ruentex Securities today (11th). General Manager Szu-Yuan Yang announced that the benefits of the company’s long-standing "Dual-Engine" strategy have fully materialized, driving robust financial performance for the first three quarters of 2025: consolidated revenue grew 19% year-over-year (YoY), consolidated operating income climbed 24% YoY, and net income rose 21% YoY, with earnings per share (EPS) reaching NT$3.01 (up 12% YoY). Delivering double-digit growth across all three key profitability indicators, TSH Biopharm successfully achieved its goal of high-quality growth, with bottom-line acceleration outpacing top-line expansion.
TSH Biopharm pointed out that this strong momentum stemmed from steady contributions by its core pharmaceutical lines alongside post-merger integration synergies from subsidiaries Cyun-Yi Biotech and Kaofung Pharmaceutical. Yang emphasized that in addition to scale expansion, product portfolio optimization has yielded significant gains. Revenue from self-pay products demonstrated explosive growth—surging from NT40millionin2022toNT530 million in 2024, representing an over 13-fold increase within two years and serving as a formidable driver of profitability.
In terms of execution, the company achieved its milestone of "Securing 10 Drug Licenses in 5 Years" ahead of schedule, comprising 6 regulatory approvals in Taiwan and 4 overseas. 2025 proved particularly fruitful: TSH Biopharm not only obtained Taiwan's first-to-market generic drug approval for its smoking cessation tablet, Varenate, but also expanded its international regulatory footprint across hyperlipidemia, arrhythmia, and pain management—demonstrating precise therapeutic targeting and cross-border regulatory capabilities.
Addressing the healthcare needs of an aging society, TSH Biopharm is actively deepening its footprint in the vision care market by introducing BCSA25, an innovative therapy for presbyopia. According to surveys conducted by the Health Promotion Administration, presbyopia is closely correlated with age, showing a marked surge in prevalence among adults aged 45 and above, representing an estimated pool of 7 million potential patients across Taiwan. BCSA25 aims to become Taiwan’s first approved prescription drug for presbyopia, offering a clinically valuable, non-surgical therapeutic option for this expansive aging population.
Alongside business performance, TSH Biopharm continues to advance corporate sustainability. The company ranks in the Top 5% of the Corporate Governance Evaluation for TPEx-listed companies. Recently, it earned dual recognition at the Asia Responsible Enterprise Awards (AREA)—winning the "Social Empowerment" and "Green Leadership" awards—and was honored with the Silver Award in Healthcare Category II (Sustainability Report Category) at the 18th Taiwan Corporate Sustainability Awards (TCSA), reflecting its dedication to ethical governance and corporate social responsibility.
Looking ahead to 2026, Yang outlined Four Core Growth Engines:
- Developing Niche Products: Targeting new in-licensing opportunities in ophthalmology and central nervous system (CNS) rare diseases to optimize the product mix.
- Deepening Domestic Channel Penetration: Continually elevating the proportion of self-pay revenue and refining cost structures.
- Expanding Overseas Markets: Leveraging the 4 secured international drug approvals, with Malaysia and Macau slated to deliver inaugural commercial orders and contribute substantive revenue.
- Driving Inorganic Growth: Fueling sustained subsidiary expansion and actively evaluating strategic partnerships to comprehensively propel corporate growth.


