Media OutReach
Bora Pharmaceuticals Exits Integration Phase with Sequentially-Improved Gross and Operating Margins
Positioned to Unlock M&A Value through U.S. Manufacturing Amidst Geopolitical Complexities and Specialty Portfolio
HONG KONG SAR – Media OutReach Newswire – 14 May 2025 – Bora Pharmaceuticals (TWSE: 6472) today announced its financial results and operational highlights for first quarter of 2025.
- Fueled by expanded capacity and new dosage forms, Bora’s CDMO business delivered a record high quarter, up 52.4% YoY and 3.0% QoQ.
- As part of Bora’s long-term strategic growth plan, the Company is moving forward with a phased investment of tens of thousands US dollars to unlock the untapped potential of Maple Grove facility. This build-out is designed to enhance capabilities in oral solid dose and sterile manufacturing, strengthening the ability to support customer demand and scale future programs.
- Pharma Sales revenues rose 82.0% YoY based on reported unaudited monthly sales, driven by strong performance from the vigabatrin franchise, which includes three dosage forms. Notably, VIGAFYDE captured over 70% share in the new patient segment.
- Due to the completion of Plymouth area decommissioning, consolidated revenues for 1Q25 was NT$4.48 billion, a NT$350 million reversal from the unaudited monthly disclosures, all of which was attributed to the pharma sales segment.
- Despite margin pressure from partial maintenance shutdowns at the Maryland sterile injectable site in early January and softening demand for generic product dexlansoprazole (DLS), product mix improvement from growing specialty portfolio lifted gross margin from the low of 4Q24 to 42.2% in 1Q25. Tech transfer for 6 Upsher-Smith generic products to cost-competitive sites within Bora network remains on track, with full transfer expected by year-end to support further margin recovery.
- EPS from continuing operations reached NT$26.54, reflecting NT$2.44 billion of net non-operating income from the divestment of Bora Biologics and recognition of losses of Tanvex Biopharm. However, the decommissioning of the Plymouth area negatively impacted EPS by NT$12.99, resulting in a reported EPS of NT$13.55. Share capital increased 0.4% during the quarter from employee stock option exercises and convertible bond conversions.
- DLS competitors began exiting the market in early 2Q25 due to supply chain hiccups, creating new opportunities for Bora to increase share and drive recovery momentum.
- The Group remains optimistic that its first quarter restructuring efforts will increase the long-term value of its recent acquisitions, including unlocking NT$600 million in capital in 2025. CDMO business growth will be further accelerated with strategic U.S.-based capability and capacity.
The closure of Plymouth area was completed ahead of schedule during the quarter and the area has thus been reclassified as discontinued operation in our quarterly financial statements altogether. From an operational standpoint, Bora has discontinued 15 products in the U.S. generics market along with the restructure, with an additional 6 products transferred to more cost-efficient manufacturing sites within the Group. On the financial side, discontinued operation resulted in a negative impact of approximately NT$1.34 billion, including overhead, inventory and equipment write-downs as well as severance-related expenses.
Looking ahead, Bora will advance its focus on high-value and complex dosage forms supported by over NT$5.0 billion cash on hand. At Maple Grove, 4 global pharmaceutical clients are currently in advanced discussions regarding CAPEX investments which we view as a strong validation of the site’s value and strategic fit. While the timeline for full deployment spans several years, we are approaching this expansion with operational discipline and commercial alignment to ensure its success over time.
On pharma sales side, Bora weathered softness in DLS demand in the first quarter but quickly gained market share as a competitor exited in early second quarter. Generic business rebounded in April, supported by strong sales from new 2024 launches including Potassium Chloride ER Tablets (KCL), and anti-angina drugs Diltiazem (DTC and DTS). This recovery underscores Bora’s agility and the resilience of the dual-engine strategy. Furthermore, we have successfully consolidated distribution network for specialty drugs. Bora expects its pediatric spasm product, VIGAFYDE (the 505(b)(2) oral solution), to extend its success in the new patient market into the switch segment in the very near future, supporting future margin and operational leverage expansion.
We continue executing on our goals to scale up, achieve more and integrate smarter, ensuring that both internal and external clients benefit from cost-efficient, regionally aligned manufacturing. By extending the strength of our dual-engine model, we believe Bora shall continue to create above-average total shareholder return.”
Global CDMO Operations
Global CDMO Operations (excluding internal orders) delivered record-high revenues of NT$1.90 billion in the first quarter, up 52.4% YoY and representing approximately 39% of total revenue. Including internal orders, CDMO revenue reached NT$2.89 billion. A total of 600 million doses were developed and manufactured. Revenue contribution from global top 20 pharmaceutical companies remained steady at approximately 30%, demonstrating strong clientele and advantage of scale. Bora CDMO continues to be a trusted partner for biotech and pharmaceutical innovators.
- In 1Q25, the small molecule CDMO pipeline added US$123 million in potential orders and US$78 million in backlog, both marking historic highs.
- CAPEX progress across sites reached approximately 50%, focused on debottlenecks, efficiency improvement, capacity increase and infrastructure upgrade to align with client and product needs. Flex Pro line at the Maryland sterile injectable facility was completed ahead of schedule and is expected to begin operations in early Q3.
- Maple Grove launched its first CDMO project during the quarter and is currently negotiating with potential clients while evaluating CAPEX plans for differentiated dosage platforms. Overall, North American capacity transformation is progressing as planned.
- Large molecule CDMO operation was launched following the January 20 reverse-acquisition of Bora Biologics by Tanvex Biopharm where Bora owns 30.5% of Tanvex. CDMO operations at the San Diego site are now active, and the ongoing 2,000L expansion has received strong interest from late-stage clients. Bora and Tanvex are actively pursuing U.S.-based commercial-scale manufacturing orders with a comprehensive one-stop service model.
Pharma Sales Operations
Pharma Sales Operations revenue reached NT$2.93 billion, representing 82.0% YoY growth and contributing approximately 61% of total revenue based on unadjusted numbers.
- As the Upsher-Smith team continue to consolidate distributors for specialty drugs, we saw early signs of positive engagement from both market and payer channels at the end of the first quarter. Following the 2024 integration of TWi, Upsher-Smith and Pyros teams, Bora has established a focused pipeline in CNS specialty areas. The company expects to file its first self-developed 505(b)(2) submission for infantile spasms (Stiripentol) with the U.S. FDA by year-end, alongside other pipeline developments.
- Pediatric epilepsy and TSC-related rare diseases represent the first wave of Bora’s pharma sales transformation targets. In addition to reducing over-reliance on generics, high-value rare disease and specialty drugs benefit from strong regulatory and payer support in the specialty pharmacy channel. These markets are less competitive with stable price, and offer targeted access to patient populations, allowing for meaningful long-tail value creation.
Bora will host an English online earnings call at 7:00 a.m. Taiwan time on May 15, 2025, followed by an investor conference hosted by Taishin Securities at the Grand Hyatt Taipei at 2:00 p.m. on May 16, 2025. Both events will cover the company’s Q1’25 financial and business results and outlook.
English Online Earnings Presentation Link: https://www.zucast.com/event/54SiM5il/subscribe/create
The 2025 Annual General Shareholders’ Meeting will be held on May 23 at the Tainan Guantian Industrial Marketing Center.
Bora will participate in the Jefferies Global Healthcare Conference in New York on June 4–5. For 1:1 meetings with management, please contact your Jefferies representative.
Q2 2025: Expected in the 3rd week of August 2025
Q3 2025: Expected in the 3rd week of November 2025
Q4 2025: Expected in the 2nd week of March 2026
Hashtag: #Bora
The issuer is solely responsible for the content of this announcement.
About Bora
Founded in 2007, Bora Pharmaceuticals (“Bora” or “the Company”, 6472.TW) is a leading pharmaceutical services company with a vision and goal of “Contributing to Better Health All Over the World”. Operating under a “Dual Engine” model that integrates CDMO and commercial expertise, we empower pharmaceutical and biotech partners to optimize product development, accelerate launches, and scale supply to meet global patient needs. At the same time, we actively broaden R&D and sales infrastructure, focusing on niche and rare disease markets to improve patients’ quality of life.
By investing in talent, infrastructure, and biologics expansion, Bora continues to transform operations and achieve sustainable growth. Committed to making success “certain,” Bora sets new standards in the pharmaceutical and CDMO industries.
For more, please visit:
https://www.bora-corp.com
https://www.boracorpcdmo.com
Disclaimer:
This document and the accompanying information may contain forward-looking statements. All statements regarding the company’s future business operations, potential events, and prospects (including but not limited to forecasts, targets, estimates, and operational plans) are considered forward-looking statements unless they refer to factual occurrences. Forward-looking statements are subject to various factors and uncertainties that may cause significant differences from actual results, including but not limited to price fluctuations, actual demand, exchange rate variations, market share, competitive conditions, changes in the legal, financial, and regulatory framework, international economic and financial market conditions, political risks, cost estimates, and other risks and variables beyond the company’s control. These forward-looking statements are based on current predictions and assessments, and the company disclaims any responsibility for future updates.
Media OutReach
Successful debut of International Symposium on Emergency Response and Aeromedical Services in Hong Kong
With participants from places including Hong Kong, the Chinese Mainland, Australia, the United Kingdom, Austria, Indonesia, Singapore and Thailand, the event aimed to foster closer co-operation in emergency linkage, resource sharing, and professional training among different regions.
The symposium featured a series of plenary sessions, panel discussions, technical visits, and live demonstrations jointly conducted by the GFS and various government emergency units. A number of memoranda of understanding were signed during the event, to deepen collaboration between the GFS and the Chinese Mainland as well as domestic and international emergency, aviation, and medical institutions.
Speaking at the opening ceremony, the Under Secretary for Security, Michael Cheuk, said that the challenges of emergency response as a result of the realities of climate change are evolving at an unprecedented pace.
“A shift to proactive prevention, continuous enhancement of international and cross-regional collaboration, and enhanced experience and insight sharing among stakeholders are key to rising to new and complex challenges,” Mr Cheuk said, adding that the collaborative spirit of ISERAS will forge stronger partnerships, further strengthen emergency response capabilities, and secure a safer future for communities.
The Director General of the Rescue and Salvage Bureau of the Ministry of Transport of the People’s Republic of China (CRS), Wang Lei, also attended the symposium and delivered a keynote presentation on air rescue capabilities and strategic development in the South China Sea.
The symposium concluded with an interdepartmental counter-terrorism drill and exchange session, with the participation of the GFS, the Hong Kong Police Force and the Hong Kong Fire Services Department, showcasing Hong Kong’s professional capabilities in responding to terrorist attacks.
The Controller of the GFS, Captain Eddie Liu, said that the GFS has always played an important role in emergency response and rescue. “In addition to assisting in search and rescue, providing air ambulance and other emergency aeromedical services, the GFS also shoulders the responsibility of maintaining internal security of the HKSAR,” he said.
“In emergencies such as terrorist attacks, the GFS would make rapid deployment to assist the disciplined services in conducting air assault, offering all-round support to the HKSAR Government’s overall counter-terrorism efforts.”
Since its establishment in 1993, the GFS has served at the forefront of round-the-clock search-and-rescue and emergency aeromedical operations, while the ISERAS aims to collectively build a truly transnational pool of professional expertise, thereby underscoring Hong Kong’s status as an aviation hub for emergency response in Asia.
Hashtag: #HongKong #BrandHongKong #GFS #Emergency #Response #Aeromedical #Symposium
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https://www.linkedin.com/company/brand-hong-kong/
https://x.com/Brand_HK/
https://www.facebook.com/brandhk.isd
https://www.instagram.com/brandhongkong
The issuer is solely responsible for the content of this announcement.
Media OutReach
Swire Coca-Cola HK Refreshes the 2026 Sun Life Hong Kong International Dragon Boat Festival with Giant Festive Installation at the Avenue of Stars
Deeply rooted in the city for over six decades, Swire Coca-Cola HK is driven by its brand purpose “to deliver refreshment to the communities we call home” and has proudly been part of many of Hong Kong’s defining moments. From local festivities and cultural events to large-scale sports and tourism experiences, the brand has long connected with the community, dedicated to supporting Hong Kong’s vibrant mega-event economy. Serving as the Official Beverage Sponsor of the event this year represents another milestone in its mission to share joy and create unforgettable summer memories.
Festive Photo Spot: Two-Metre Giant Coca-Cola® Bottle on the Avenue of Stars
To amplify the festive spirit, a giant, two-metre-tall Coca-Cola® bottle, accompanied by a dragon boat-themed installation, will land on the Avenue of Stars. Set against the dazzling backdrop of Victoria Harbour, this striking display will be available from 19 June to 1 July, offering the compelling photo spot for the public to capture memorable moments while enjoying the thrilling races.
Festive-Themed Combo Meals: Redeem Limited-Edition Mystery Gifts
Echoing the culinary excitement of the event’s special “Dragon Boat Food Lane”, Swire Coca-Cola HK is partnering with designated kiosks and stalls along the Avenue of Stars to launch festive-themed combo meals. During the race days on 27 and 28 June, consumers who purchase a designated meal set featuring Swire Coca-Cola HK products, or buy two or more selected Swire Coca-Cola HK products, will receive a redemption voucher. This voucher can be used to redeem the brand’s mystery gift at the redemption counter at specified timeslots, available on a first-come, first-served basis.
Boosting Energy and Keeping Paddlers Hydrated
Given the intense physical demands of dragon boat racing, the brand is also throwing its full support behind the local and international paddlers. Multiple bonaqua® water stations will be set up across the event venue to ensure over 4,500 athletes stay hydrated. Additionally, electrolytes replenishment drink Aquarius® will be provided to offer a vital energy boost, helping paddlers power through to the finish line.
Paddling Towards a Greener Future
Beyond the excitement of the races, Swire Coca-Cola HK also brings sustainable practices to the celebration. In collaboration with local social enterprise V Cycle, the brand will set up multiple plastic bottle recycling stations during the race days on 27 and 28 June. Collected bottles will be transported to New Life Plastics, Hong Kong’s largest food-grade-ready plastic bottle recycling facility. The recyclables will be processed into recycled PET (rPET) materials and reintroduced into the supply chain to create new bottles. This “bottle-to-bottle” initiative highlights a successful circular economy model by giving recycled plastic a second life, making environmental stewardship a core part of the event experience.
As the “2026 Sun Life Hong Kong International Dragon Boat Festival” unfolds, Swire Coca-Cola HK is excited to celebrate this summer spectacular with the locals and tourists. Through refreshing drinks, interactive fun, and recycling actions, the brand hopes to create lasting memories for all.
Hashtag: #SwireCoca-ColaHK #Dragonboat
https://www.swirecocacola.com/
https://hk.linkedin.com/company/swire-coca-cola-hk
The issuer is solely responsible for the content of this announcement.
Media OutReach
iQOO 15R Named Official Gaming Phone for 2026 Asian Games Esports Qualifiers: Honor of Kings
The performance-focused smartphone will support tournament-level mobile gameplay with stable performance, responsive controls and sustained power.
DONGGUAN, CHINA – Media OutReach Newswire – 19 June 2026 – iQOO, a smartphone brand built for high-performance mobile gaming experiences, today announced that the iQOO 15R has been named the Official Gaming Phone for the 2026 Asian Games Esports Qualifiers: Honor of Kings.
As an official esports title of the Asian Games, Honor of Kings brings together competitive mobile esports players from across the region. Through this partnership, iQOO will support the Qualifiers with a device designed for competitive mobile gaming, reinforcing the brand’s commitment to supporting powerful, stable and immersive experiences for players and fans.
Supporting Tournament-Level Mobile Esports
Competitive mobile esports requires more than peak performance. Players often rely on consistent frame rates, responsive touch control and reliable power throughout extended matches. With the iQOO 15R serving as the Official Gaming Phone for the Qualifiers, iQOO aims to bring its performance-driven technology into a professional tournament setting and support players with a device built for speed, control and sustained gameplay.
Built for Stable, High-Intensity Gameplay
Designed as a performance-focused smartphone, the iQOO 15R is equipped to support the high demands of mobile gaming. Powered by the Snapdragon® 8 Gen 5 Mobile Platform and Monster HyperCore Engine, the device is engineered to help deliver stable frame rates and responsive gameplay during extended sessions.
The Supercomputing Chip Q2 is designed to enhance visual clarity for a more immersive gaming experience, while the Super Touch Control Chip is designed to improve input accuracy and control response. In addition, the advanced cooling system and large-capacity Silicon Anode Battery with fast charging help provide the sustained performance and power required for tournament-level play.
Hashtag: #iQOO
The issuer is solely responsible for the content of this announcement.
About iQOO
iQOO, a sub-brand of vivo, differentiates itself in performance and Esports experience. iQOO leverages the research, quality assurance and after-sales service expertise of vivo, and follows the brand ethos of i Quest On and On to push boundaries, innovate boldly and share the excitement of exploring future technology. With products offering Esports-standard capabilities, iQOO aims to become the top choice of consumers who are passionate about performance and gaming.
For more information, please visit 
https://www.iqoo.com/en.
About Honor of Kings
Developed by TiMi Studio Group, Honor of Kings has become the world’s most-played MOBA. In 2025, the combined MAU of Honor of Kings titles surpassed 260 million. Featuring highly detailed and diverse character and battlefield design plus music created by world renowned composers including Hans Zimmer, Joe Hisaishi, and Howard Shore, Honor of Kings immerses players in a unique and colorful universe. Honor of Kings prides itself on being free to play and fair to win, with success determined by players’ skills and tactics. Honor of Kings is also home to a thriving esports ecosystem supporting competitive play from grassroots amateurs to elite professionals. To learn more about Honor of Kings, follow on 
Twitter, 
Facebook, 
Youtube, 
Instagram, 
TikTok or visit the official website of Honor of Kings.
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