Mar 1, 2022

Medigen posts NT$1.41bn net profit By Kao Shih-ching / Staff reporter Medigen Vaccine Biologics Corp (高端疫苗) yesterday reported net profit of NT$1.41 billion (US$50.3 million) for last year and its board of directors approved a plan to distribute a stock dividend of NT$5 per share, a company regulatory filing showed. The company turned a profit for the first time last year, thanks to sales of 5 million doses of its COVID-19 vaccine to the Ministry of Health and Welfare, and a government subsidy of NT$470 million for human testing. Medigen, which began selling its COVID-19 vaccine in the second half of last year after being granted an emergency use authorization in July, reported that revenue expanded 298-fold to NT$3.28 billion, up from NT$11 million in 2020. A vial of Medigen Vaccine Biologics Corp’s COVID-19 vaccine is pictured in Taipei on Jan. 20. Photo: Tsai Szu-pei, Taipei Times Earnings per share were NT$6.65 last year, compared with losses per share of NT$3.61 in 2020, the company said. The dividend payout would be subject to shareholders’ approval at an annual general meeting on June 30, it said. The board of directors also approved a proposal to raise funds by issuing 7 million new common shares, as the company aims to continue expanding production capacity, Medigen said. The company expects to raise NT$1.75 billion via the new share issuance and obtain another NT$1.75 billion via a new bond issuance, it said. Medigen expects to receive more international orders for its COVID-19 vaccine this year and aims to produce 100 million doses this year, it said. Comments will be moderated. Keep comments relevant to the article. Remarks containing abusive and obscene language, personal attacks of any kind or promotion will be removed and the user banned. Final decision will be at the discretion of the Taipei Times.