Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

Universal Vision Biotechnology / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/universal-vision-biotechnology-co-ltd" target="_blank" data-smartkarma-citation="entities:8112:1" rel="noopener">Universal Vision Biotechnology (3218 TT)</a> reported continued growth in 1H23, with revenue, operating profit, and net profit increasing 25%, 31%, and 31%, YoY, respectively. </li>
<li>Revenue from high-margin technical service grew 23% YoY, driven by increasing number of refractive and cataract surgeries performed in Taiwan. UVB dominates refractive market in Taiwan, with 50% market share.</li>
<li>With dominant market positioning in Taiwan, re-opening in China, secular market tailwinds, and widening geographic presence, UVB is expected to report double-digit top and bottom-line growth through 2025.</li>
</ul>



Universal Vision Biotechnology (3218 TT) reported continued growth in 1H23, with revenue, operating profit, and net profit increasing 25%, 31%, and 31%, YoY, respectively. 
Revenue from high-margin technical service grew 23% YoY, driven by increasing number of refractive and cataract surgeries performed in Taiwan. UVB dominates refractive market in Taiwan, with 50% market share.
With dominant market positioning in Taiwan, re-opening in China, secular market tailwinds, and widening geographic presence, UVB is expected to report double-digit top and bottom-line growth through 2025.


Universal Vision Biotechnology (3218 TT): Steady Growth Continued in 1H23 Riding on Strong Demand

Thematic (Sector/Industry)

<ul>
<li>Alteogen has signed an exclusive license agreement with Daiichi Sankyo to develop and commercialize a subcutaneous version of Enhertu. Volpara won $7.3M contract from the U.S. Defense Health Agency.</li>
<li>Santen Pharmaceutical has rolled out Rhopressa ophthalmic solution in South Korea for the treatment of open-angle glaucoma or ocular hypertension.</li>
<li>Sun Pharmaceutical’s launch of alopecia drug Leqselvi in the U.S. will be delayed due to litigation with Incyte. Recently, a U.S. District Court decided to grant a preliminary injunction.</li>
</ul>


Alteogen has signed an exclusive license agreement with Daiichi Sankyo to develop and commercialize a subcutaneous version of Enhertu. Volpara won $7.3M contract from the U.S. Defense Health Agency.
Santen Pharmaceutical has rolled out Rhopressa ophthalmic solution in South Korea for the treatment of open-angle glaucoma or ocular hypertension.
Sun Pharmaceutical’s launch of alopecia drug Leqselvi in the U.S. will be delayed due to litigation with Incyte. Recently, a U.S. District Court decided to grant a preliminary injunction.


APAC Healthcare Weekly (Nov 10)- Alteogen, Santen Pharmaceutical, Beigene, Sun Pharmaceutical

<ul>
<li>
<a href="https://www.smartkarma.com/entities/universal-vision-biotechnology-co-ltd" target="_blank" data-smartkarma-citation="entities:8112:1" rel="noopener">Universal Vision Biotechnology (3218 TT)</a> reported continued growth in 2022, with revenue, operating profit, and net profit increasing 33%, 41%, and 43%, YoY, respectively.</li>
<li>Revenue from high-margin technical service grew 45% YoY, driven by increasing number of refractive and cataract surgeries performed in Taiwan.</li>
<li>UVB remains on a steady growth path and started 2023 on a strong note. During the first two months of 2023, the company recorded revenue of NT$661M, up 18% YoY.</li>
</ul>



Universal Vision Biotechnology (3218 TT) reported continued growth in 2022, with revenue, operating profit, and net profit increasing 33%, 41%, and 43%, YoY, respectively.
Revenue from high-margin technical service grew 45% YoY, driven by increasing number of refractive and cataract surgeries performed in Taiwan.
UVB remains on a steady growth path and started 2023 on a strong note. During the first two months of 2023, the company recorded revenue of NT$661M, up 18% YoY.


Universal Vision Biotechnology (3218 TT): Steady Revenue and Net Profit Growth in 2022;

<ul>
<li>
<a href="https://www.smartkarma.com/entities/universal-vision-biotechnology-co-ltd" target="_blank" data-smartkarma-citation="entities:8112:1" rel="noopener">Universal Vision Biotechnology (3218 TT)</a> recorded revenue growth of 34% YoY to TWD2.5B during nine month ended Sept’22, driven by increasing number of refractive and cataract surgeries performed in Taiwan.</li>
<li>With 12M addressable patient population and just 0.16% penetration, refractive treatment market in Taiwan has favorable trend. With ~50% market share, the company is well-positioned to grab the opportunity.   </li>
<li>This year, the company has renovated two existing centers and added four new centers. UVB is targeting 50 Universal Eye Centers by 2025 from 28 now.</li>
</ul>



Universal Vision Biotechnology (3218 TT) recorded revenue growth of 34% YoY to TWD2.5B during nine month ended Sept’22, driven by increasing number of refractive and cataract surgeries performed in Taiwan.
With 12M addressable patient population and just 0.16% penetration, refractive treatment market in Taiwan has favorable trend. With ~50% market share, the company is well-positioned to grab the opportunity.   
This year, the company has renovated two existing centers and added four new centers. UVB is targeting 50 Universal Eye Centers by 2025 from 28 now.


Universal Vision Biotechnology (3218 TT): Not Suffering from Myopia; Clear Long-Term Growth Prospect

<ul>
<li>
<a href="https://www.smartkarma.com/entities/universal-vision-biotechnology-co-ltd" target="_blank" data-smartkarma-citation="entities:8112:1" rel="noopener">Universal Vision Biotechnology (3218 TT),</a> the largest vision care chain in Taiwan, reported 2021 revenue of TWD2.6 billion, reflecting y/y growth of 28% amid the COVID-19 pandemic.  </li>
<li>The company is on an expansion spree and aims to double its ophthalmic service centers in Taiwan by 2025 from 25 now. This will further boost revenue growth.</li>
<li>With having the highest number of SMILE machines among competitors, the company is well-positioned to benefit from increasing refractive surgeries in Taiwan. SMILE is the latest technology for refractive surgery. </li>
</ul>



Universal Vision Biotechnology (3218 TT), the largest vision care chain in Taiwan, reported 2021 revenue of TWD2.6 billion, reflecting y/y growth of 28% amid the COVID-19 pandemic.  
The company is on an expansion spree and aims to double its ophthalmic service centers in Taiwan by 2025 from 25 now. This will further boost revenue growth.
With having the highest number of SMILE machines among competitors, the company is well-positioned to benefit from increasing refractive surgeries in Taiwan. SMILE is the latest technology for refractive surgery. 


Universal Vision Biotechnology (3218 TT): 2021 Revenue Growth of 28% Is Outlier Amid COVID-19 Crisis

Taiwan

Universal Vision Biotechnology Co., Ltd. provides laser vision correction equipment and technical services to eye clinics and medical centers.  The Company also provides consultation services, as well as sells eye drugs and glasses.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Universal Vision Biotechnology (3218 TT)