Sinphar Pharmaceutical

What Sinphar Pharmaceutical does

Sinphar Pharmaceutical (杏輝藥品工業股份有限公司) is a Taiwan-based diversified pharmaceutical group founded in 1977 in Yilan, Taiwan, and publicly listed on the Taiwan Stock Exchange (TAIEX: 1734). The company operates through six wholly-owned subsidiaries spanning pharmaceutical manufacturing (Sinphar Pharmaceutical, CanCap Pharmaceutical in Canada, Sinphar Tianli in Hangzhou and He-Tian Tianli in Xinjiang, China), new drug development (SynCore Biotechnology, separately listed on GTSM as code 4192), and medical device packaging (ZuniMed Biotech). Its product portfolio spans branded generic pharmaceuticals (oncology injectables, ophthalmic preparations, topical drugs), health supplements with MOHW-certified functional claims (Memoregain® for anti-aging, Potent Plus® for anti-fatigue, Lipucan® for immune regulation/allergy), cosmetics (DYNASKIN, SkinPRO), and contract manufacturing services for international pharmaceutical and health product companies in 19 countries.

The company's core technology platform combines PIC/S GMP-certified manufacturing capabilities — including Taiwan's first isolated automated cytotoxic injection production line (Plant 2, 3,423 m²) — with proprietary botanical ingredient extraction technologies (Lipucan®, Protygold®, AIE2, ECNS) protected by patents across Taiwan, US, China, and Europe, and fingerprint chromatography for quality control. SynCore Biotechnology's pipeline includes SB05PC (liposomal paclitaxel for pancreatic cancer, Phase III in 7+ countries), SB01 (head/neck cancer, Phase II), SB04 (dry AMD eye drops, Phase II/III), SB05TNBC (triple-negative breast cancer, Phase III), and the FDA-approved SB03 Veregen (genital warts).

Sinphar generates revenue through five streams: (1) proprietary branded health foods and pharmaceuticals sold via the 1,300+ Sinphar Counter (杏輝專櫃) pharmacy network, 100+ direct sales personnel, and mass retail chains (Watsons, Cosmed, Poya) in Taiwan; (2) OEM/ODM contract manufacturing for international pharmaceutical and health product companies across 19 countries; (3) export of botanical ingredients (Cistanche Tubulosa, Poria, walnut oligopeptides) to global manufacturers; (4) potential milestone payments and royalties from SynCore's new drug pipeline; and (5) medical aesthetic and cosmetics products. The company serves health-conscious consumers managing aging, fatigue, immunity, and metabolic conditions; patients requiring oncology, ophthalmic, and dermatology treatments; international pharmaceutical companies seeking qualified Asian manufacturing partners; and elderly populations managing cognitive decline and chronic conditions. It holds ISO 9001/14001/17025/22000/45001, PIC/S GMP, Japanese PMDA, Canadian GMP/NHP, MUI HALAL, and HACCP certifications, with documented revenue growth exceeding 30% cumulatively from 2020 to 2024 and 2024 revenue setting a new historical record.

Name

Sinphar Pharmaceutical

Legal name

杏輝藥品工業股份有限公司

Website

https://sinphar.com.tw

Company type

Public

Founded year

1977

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Sinphar Pharmaceutical is a Taiwan-based diversified pharmaceutical group (TAIEX: 1734) manufacturing branded generics, health supplements, cosmetics, and OEM/ODM products across 19 countries, with proprietary botanical ingredient technologies, a 1,300+ pharmacy distribution network, and a clinical-stage new drug subsidiary (SynCore Biotechnology).

Ownership category

akta.pro rank

Product category

Pharmaceutical Manufacturing

NAICS

Pharmaceutical Preparation Manufacturing (325412), Medicinal and Botanical Manufacturing (325411), Drugs and Druggists' Sundries Merchant Wholesalers (42421)

SIC

Pharmaceutical Preparations (2834), Wholesale-Drugs, Proprietaries & Druggists' Sundries (5122), Perfumes, Cosmetics & Other Toilet Preparations (2844)

akta.pro primary industry

Specialty Care Pharmaceuticals (HLAIAAAB)

akta.pro secondary industries

Allergy, Sinus & Respiratory (Non-Asthma) (HLAIADAC), Pulmonology & Allergy Specialty Pharmaceuticals (HLAIACAF)

Keywords

• Generic pharmaceuticals
• Health supplements
• Contract manufacturing
• Oncology injectables
• Botanical extracts

Headquarters

HQ city

Taipei

HQ country

Taiwan

HQ region

Asia

Offices6 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Supply Chain, Infrastructure

Revenue model

1. OEM/ODM Pharmaceutical Manufacturing: Contract manufacturing services for domestic and international pharmaceutical companies, producing over 400 product SKUs including drugs, plant extracts, functional foods, and medical aesthetic products. Sinphar leverages its PIC/S GMP, ISO, Japanese PMDA, Canadian NHP, and HALAL certifications to serve international clients seeking manufacturing partners. Products manufactured for dozens of named and unnamed international pharmaceutical majors.
2. Proprietary Branded Health Food Products: Sale of Sinphar-branded health food products (保健食品) through the Sinphar Counter pharmacy network (1,300+ stores), hospitals, clinics, drugstores, e-commerce platforms (including own storefronts), and retail chains such as Watsons and Cosmed. Products include Sinphar Memoregain capsules, Potent Plus soft capsules, Lipucan capsules, fish oil supplements, bitter melon peptide, probiotics, and many others spanning multiple therapeutic categories.
3. Branded Pharmaceutical Products: Sale of proprietary-branded ethical pharmaceuticals through hospitals, clinics, and pharmacies in Taiwan and internationally. Product categories include oncology injectables (e.g., Phyxol Injection, Carboplatin, Gefitinib), ophthalmic preparations, topical drugs, and other therapeutic categories. Gefitinib (targeted anti-lung cancer therapeutic) obtained Japanese PMDA approval and was among the first wave of generic drugs in Japan.
4. SynCore Biotechnology New Drug Development (Subsidiary): SynCore Biotechnology (stock code 4192, established 2008) develops novel oncology and ophthalmic drugs through global clinical trials, generating potential milestone payments and future royalty streams. Pipeline includes SB01 (head/neck cancer, Phase II), SB05PC (pancreatic cancer, Phase III in US/Taiwan/France/Hungary/South Korea/Russia/Israel/China), SB05TNBC (triple-negative breast cancer, Phase III), SB04 (dry AMD, Phase II/III), and SB03 Veregen (genital warts, approved and marketed).
5. Medical Aesthetic / Cosmetics Products: Manufacturing and sale of medical aesthetic and cosmetic products including DYNASKIN (翠緹) brand skincare. Sinphar's cosmetics plant received voluntary GMP certification and applies pharmaceutical manufacturing standards to cosmetics production for quality differentiation.
6. Plant Extract Ingredients (Domestic and Export): Production and export of botanical/pharmaceutical plant extracts including Cistanche Tubulosa extracts, Poria extracts (Lipucan®), and walnut oligopeptides (Protygold®) to pharmaceutical and health product manufacturers globally. Sinphar Tianli (Hangzhou) operates a 22,000+ m² plant producing plant extracts and holds GAP certification for Cistanche cultivation.

Pricing tiers

Go-to-market motion4 records

Distribution channels6 records

Marketing channels8 records

Core offering

Sinphar Pharmaceutical manufactures and markets proprietary pharmaceutical products (oncology injectables, ophthalmics, topical, oral generics), certified health supplements (Lipucan, Memoregain, Potent Plus, fish oil, probiotics), medical-aesthetic cosmetics (DYNASKIN), and proprietary botanical ingredient platforms (Lipucan®, Protygold®, AIE2, ECNS). The company also provides OEM/ODM contract manufacturing services for domestic and international pharmaceutical, health-food, and cosmetics companies. Subsidiary SynCore Biotechnology develops novel oncology and ophthalmic drugs (SB05, SB01, SB04, SB03 Veregen).

Product overview

Sinphar Pharmaceutical is a diversified pharmaceutical and health products company operating as a platform with multiple product lines. The portfolio includes: (1) Pharmaceutical products - branded generic drugs and oncology injectables for hospitals and clinics; (2) Health supplements - functional foods including brain health products (Memoregain Capsules, Protygold), immune support (Lipucan series), blood sugar management (bitter melon peptide), fish oil, probiotics, and B-complex vitamins sold through Sinphar Counters and retail channels; (3) Cosmetics - DYNASKIN skincare line; (4) Contract manufacturing services - OEM/ODM for pharmaceutical, food, and cosmetic products; (5) Subsidiary pipeline - SynCore Biotechnology developing novel cancer drugs and eye treatments in clinical trials. The company operates manufacturing facilities in Taiwan and China with global distribution.

Differentiator

Problem solved

Functional benefit

Brands

• DYNASKIN (翠緹): Cosmetics and skincare product line including moisturizers, intimate care products, and anti-aging creams
• 優倍多 (YouBest)
• 杏補宜 (Protygold)
• 杏輝蓉憶記 (Sinphar Memoregain)
• 杏輝活芯 (Sinphar Potent Plus)

Products and services

• Sinphar Memoregain Capsules (杏輝蓉憶記膠囊) Health supplement containing patented AIE2 Cistanche tubulosa extract, certified by Taiwan MOHW for anti-aging function to support memory and cognitive health. Sold to health-conscious consumers through Sinphar Counter, retail, and e-commerce channels.
• Sinphar Potent Plus Soft Capsules (杏輝活芯升級版軟膠囊) Anti-fatigue health supplement with US-patented unique formula (US10485836B2), certified by Taiwan MOHW for anti-fatigue function and heart health support. Sold through Sinphar Counter pharmacy network and retail channels.
• Sinphar Lipucan Capsules (杏輝敏益茯苓膠囊) Health supplement with patented Lipucan® Poria cocos extract (lanostane triterpenoids), holding dual MOHW certifications for immune regulation and allergic constitution adjustment. Sold through Sinphar Counter and retail channels.
• Sinphar Bitter Melon Peptide Advanced Capsules (杏輝苦瓜胜肽升級版膠囊)

Quantifiable outcome

• Revenue growth exceeded 30% cumulative from 2020 to 2024, with 2024 full-year revenue setting a new historical record
• +5 more outcomes

Named customers6 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature9 records

Partnerships

14 partnerships are on record, tiered minor and core.

• SkinPRO (肌法則)minorStrategic or Co-development Partner · 1 November 2025Sinphar launched a new cross-industry brand SkinPRO (肌法則) in November 2025, marking entry into the medical aesthetics consumer market with a science-based skincare approach under the new brand.
• Left Health Technology (Left 健康科技)minorChannel Partner/ Reseller/ Distributor · 1 January 2025Left Health Technology featured on Sinphar's homepage as a partner/distributor brand, suggesting an ongoing product distribution or sales partnership relationship.
• Epipole (UK, 英國Epipole光學診斷儀器公司)minorChannel Partner/ Reseller/ Distributor · 1 January 2018SynCore Biotechnology signed Taiwan distribution agreement with British company Epipole for the EpiCAM handheld fundus photography camera, formally entering the ophthalmic medical device distribution market in Taiwan.
• Major Japanese Ophthalmic Pharmaceutical Company (日本眼藥大廠)coreStrategic or Co-development Partner · 1 January 2017Sinphar signed technology transfer cooperation agreement with a major Japanese ophthalmic pharmaceutical company to jointly expand into the Asian ophthalmic pharmaceutical market, combining Sinphar's manufacturing capabilities with the Japanese partner's product portfolio and market knowledge.
• Kyowa Chemical Industry Co., Ltd. (日本協和化學工業株式會社)minorGTM or Marketing Partner · 1 January 2017Sinphar signed examination and registration agreement for gastrointestinal OTC medication with Japan's Kyowa Chemical Industry for Taiwan market registration, with exclusive sales through Sinphar Counter pharmacy network.
• AJU PHARM (Korea, 韓國AJU製藥)minorGTM or Marketing Partner · 1 January 2015SynCore Biotechnology signed co-development and commercial sales authorization agreement with AJU PHARM Korea for SB04 eye drops (dry AMD indication) in the Korean market. This represents SynCore's first international commercial authorization for its ophthalmic pipeline.
• National Taiwan University Hospital (臺大醫院)coreStrategic or Co-development Partner · 1 January 2015SynCore Biotechnology cooperated with NTU Hospital to jointly establish the Age-Related Macular Degeneration Research Center, combining clinical research expertise with SynCore's drug development capabilities.
• Kanion Pharmaceutical Co., Ltd. (江蘇康緣藥業股份有限公司)minorStrategic or Co-development Partner · 1 January 2013Sinphar Tianli (Hangzhou) signed new drug collaboration agreement with Jiangsu Kanion Pharmaceutical, a major Chinese pharmaceutical company, to cooperatively develop new drugs using Sinphar's botanical extract capabilities.
• MediGene AG (Germany)coreStrategic or Co-development Partner · 1 January 2012SynCore Biotechnology signed investment agreement and acquired global Phase III clinical trial and manufacturing/marketing rights for SB05 (EndoTAG®-1) from German listed company MediGene AG. This partnership enabled SynCore to obtain full global rights to the cationic liposome oncology platform technology. MediGene previously held these rights from its US FDA-approved Veregen botanical drug program.
• National Health Research Institutes (NHRI, 國家衛生研究院)coreStrategic or Co-development Partner · 1 January 2011Sinphar signed exclusive technology transfer contract with NHRI for R&D outcomes of a novel small molecule anti-cancer drug, and jointly established SynCore Biotechnology to develop anti-cancer drugs. This partnership represents Sinphar's foundational entry into new drug R&D.
• MacuCLEAR (USA)minorStrategic or Co-development Partner · 1 January 2011SynCore Biotechnology signed agreement with US-based MacuCLEAR for Asian and Australian authorization of an AMD (dry age-related macular degeneration) drug that completed Phase I US FDA clinical trials. This expanded SynCore's ophthalmology pipeline.
• DAITO Pharmaceutical Co., Ltd. (日本DAITO)coreStrategic or Co-development Partner · 1 January 2010Sinphar entered multiple co-development and manufacturing agreements with Japan DAITO for anti-cancer drugs. The partnership expanded to include anti-breast cancer tablet development (2010) and additional anti-cancer drug manufacturing contracts (2011, 2012). DAITO served as Sinphar's key Japanese pharmaceutical partner for technology transfer and regional market access.
• Community Pharmacies — Sinphar Counter Network (杏輝專櫃合作藥局)coreChannel Partner/ Reseller/ Distributor · 1 January 2007Sinphar partners with community pharmacies across Taiwan through its Sinphar Counter (杏輝專櫃) store-in-shop model. Each partner pharmacy operates an authorized Sinphar Counter staffed by professional pharmacists, selling Sinphar-branded products. Network comprises 1,300+ pharmacies across Taiwan.
• Peking University (北京大學)coreStrategic or Co-development Partner · 1 January 2002Cooperation with Peking University for botanical new drug research and development. This partnership supported Sinphar's plant-based drug development program and led to the establishment of the He-Tian Tianli pharmaceutical development company.

Scale indicators8 records

Recent moves16 records

Expansion highlights5 records

Direct peers

• Yung Shin Pharmaceutical Industrial (永信藥品): Taiwan-based pharmaceutical manufacturer with branded generics, health supplements, and overseas manufacturing (China, Vietnam, Indonesia). Closely comparable to Sinphar in size, Taiwan heritage, multi-category product strategy, and international expansion model.
• By-health (汤臣倍健): China's largest nutritional supplement company focused on VMS, proprietary botanical extracts, and pharmacy/retail distribution. Comparable to Sinphar's health food franchise, botanical IP platforms (Lipucan/Protygold/Memoregain), and pharmacy-led channel model.
• Synmosa Biopharma (健喬信元醫藥): Taiwan pharmaceutical group with branded generics, contract manufacturing, health supplements, and multiple subsidiaries. Direct peer to Sinphar's integrated pharma + health food + OEM/ODM business model.
• Standard Chemical Corporation (中化合成生技): Taiwan pharmaceutical manufacturer focused on finished dosage forms and contract manufacturing with international certifications. Comparable scale and business mix to Sinphar's manufacturing and OEM/ODM operations.
• TTY Biopharm (台灣東洋): Taiwan specialty pharmaceutical company with branded oncology, anti-infectives, and healthcare products distributed through hospitals and retail. Comparable to Sinphar's oncology injectable franchise and branded specialty pharma positioning in Taiwan.
• ScinoPharm (台灣神隆): Taiwan-based API and finished-dose pharmaceutical manufacturer serving global innovators and generics markets with cGMP facilities. Comparable to Sinphar's PIC/S GMP manufacturing capabilities and OEM/ODM export business.

Broad incumbents

• Otsuka Pharmaceutical: Major Japanese pharmaceutical and nutraceutical company with global presence across ethical pharma and consumer health (POCARI SWEAT, CalorieMate). Comparable to Sinphar in Japan PMDA-certified pharma + health food combination, but at much larger scale.
• Blackmores Limited: Australia-headquartered natural health company with strong Asia-Pacific (especially Greater China) distribution. Comparable to Sinphar's branded health supplement strategy and pharmacy-led retail presence, though at much larger scale.
• Daiichi Sankyo: Global Japanese pharmaceutical company with oncology leadership and presence in Taiwan via partnerships. Comparable to Sinphar's oncology injectable franchise and Japan PMDA-cleared generic Gefitinib, but vastly larger and globally diversified.

Emerging players

• PharmaEngine (智擎生技): Taiwan-listed oncology biotech with late-stage pipeline including liposomal irinotecan. Comparable to SynCore Biotechnology (also Taiwan-listed, Phase III oncology pipeline) in scale, business model, and listing structure, though focused on a narrower therapeutic niche.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@sinphar
• Facebookfacebook.com/sinphar.com.tw

Compliance13 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sinphar Pharmaceutical