TaiMed returns to profit on Trogarzo salesFRIENDLY BOOST: TaiMed received a bump as the share price of Montreal-based Theratechnologies, of which TaiMed holds 2.3 million shares, surged last quarterBy Kao Shih-ching / Staff reporterTaiMed Biologics Inc (中裕新藥) swung into profit in the second quarter on rising sales of its Trogarzo HIV treatment in the US, improving gross margin and recovering value of its financial assets, the company said on Friday. Net profit in the second quarter was NT$30.42 million (US$1.03 million), compared with a net loss of NT$83.57 million a year earlier, the company said in a filing with the Taiwan Stock Exchange. Trogarzo is a fourth-line treatment and is not often recommended to patients unless they have already tried the initial or second-line treatments, the company said. The company’s gross margin increased to 42 percent in the second quarter, from 17 percent a year earlier, as its contract manufacturer, China-based WuXi Biologics Co (無錫生物製藥), improved its production procedures, he said. The company would delay its plan to market Trogarzo in Germany later this quarter, depending on the situation of the outbreak, he added.

Source: Taipei Times August 09, 2020 15:56 UTC