(Source: Sofiva Genomics)
April 12 , 2021
SOFIVA Genomics, a leading brand in genetic testing, announced that it achieved its highest-ever revenue in March 2021 at NTD $46.054 million. With an accumulated annual revenue of NTD $124.588 million thus far, SOFIVA has marked a 4.6% YoY growth. Recently, SOFIVA’s board of directors approved its 2020 financial report. With an EPS of NTD $1.63, the board of directors has decided to issue NTD $1.4 in cash dividends, which is equivalent to a payout ratio of 85.9%.
Government Policy Facilitates SOFIVA’s Ongoing Mission of Popularizing Precision Medicine
According to the Industry, Science and Technology International Strategy Center (ISTI), ITRI, the market size of the global precision medicine industry in 2020 is around US $66.2 billion. This number is estimated to reach US $134.2 billion by 2025, which translates to a CAGR of around 15.2%. In response to technological advancements in recent years, SOFIVA Genomics continues to launch various non-invasive genetic testing services, satisfying the ever-growing demand for clinical genetic testing. Chia-Cheng Hong, General Manager of SOFIVA, stated, “Early genetic testing was mainly used to diagnose major diseases or screen for genetic risks among high-risk groups.
SOFIVA has long been focused on popularizing genetic testing. In recent years, the government has provided assistance in developing this industry by establishing the National Biobank Consortium of Taiwan (NBCT), which compiles big data. Furthermore, the government is planning on including NGS in National Health Insurance coverage, lowing the threshold for genetic testing. We believe that government-industry collaboration will facilitate the comprehensive development of the industry.”
SOFIVA Promotes Non-Invasive Preimplantation Genetic Screening and Expands Penetration in the IVF Market
In 2018, the number of IVF babies reached over 10,000 for the first time. SOFIVA’s IVF-related testing products, such as PGD and PGS, have experienced a 30% growth since 2018. Recognizing the development potential of the IVF market, SOFIVA launched niPGS, a non-invasive preimplantation genetic screening product, in Q1 of this year. By expanding the scope of genetic testing services, SOFIVA aims to increase its IVF testing-related income and achieve 50% penetration in the IVF market. Dr. Yi-Ning Su, Chairman of SOFIVA, stated, “We’ve introduced niPGS, which involves mature technology that an ideal option for regular screening. This tool provides safer options for people considering IVF, while also promoting a new era for embryo screening."
(Source: Sofiva Genomics)