Formosa was founded in 1995 started as a contract research service company. In 2000, Formosa started its API production in GMP facilities. In July 2008, LC United, a top 3 UV filters manufacturer in the world, was merged with Formosa Labs. Now a day, the company become a middle size company with ca. 500 employees.

Formosa Laboratories, Inc., one of the world's leading suppliers of APIs and UV-filters products, specializes in small-molecule chemical synthesis production with excellent capability in developing and producing High Potency drug products and manufacturing scale-ups. The company has developed more than 40 product manufacturing processes, and submitted 34 US Drug Master Files (DMF), 14 EU DMF, and 7 JP DMF. As a major global supplier for cholesterol binder, phosphate binder and vitamin D derivative products, Formosa has developed proprietary and high performing manufacturing processes that other suppliers cannot easily match. Strategically, Formosa actively collaborates with international generic drug makers to compete for Paragraph IV drugs. Their technical capability and agility give the company a first mover's advantage in the market, resulting in higher profits. In five years from now, Formosa expected to get high contribution on revenue from those products that had been selected as the first pick for the registration of Paragraph IV drugs.

Meanwhile, with the expiration of many drug patents, Formosa expects to have 9 products launched into the market over the next three years. In response to the growing demand for contract manufacturing in the global market, Formosa had invested US$33.5 million in production lines of cholesterol and phosphate binders between 2010 and 2013. A further investment of US$19 million was approved and executed in the second half of 2014 for the expansion of a high potency pharmaceutical ingredients plant that will triple the production capacity of the cytotoxic series, and double the production capacity of the vitamin D derivative products. With the new investment and the completion of new production lines of antibody-drug conjugates (ADC) and high potency APIs in Q3 2016, Formosa will enter a new era of significant business growth.

In recent years, governments have been actively reward and promote biotechnology industry, along with aging society, making it an increase of medical requirement. According to IMS Health pharmaceutical market overall economic indicators and forecast, there are 21 countries classified as "pharmerging markets", China, the primary market, the growth accounted for half of all amounts of pharmerging market. It can be expected that China will be the second-largest pharmaceutical market of the world in 2017. Besides, including Brazil, India and Russia are categorized as the secondary markets. Including Poland, Argentina, Turkey, Mexico, Venezuela, Romania, Saudi Arabia, Colombia, Vietnam, South Africa, Algeria, Thailand, Indonesia, Egypt, Pakistan, Nigeria and Ukraine are categorized as tertiary markets. Pharmerging market mainly focus on generic drugs to avoid high financial burden. The market behavior is also very protectionism supported by Governments policy. However, those countries have concerns about poor quality drugs or counterfeit drugs, doctors prefer having a brand drugs, or generic drugs with good reputation. It's an advantage for Formosa to enter Pharmerging markets.

Formosa currently operates mainly in Japan, U.S. and Europe. Their clients include world's top three pharmaceutical brands and top 10 leading generic pharmaceutical companies in the U.S. Meanwhile, Formosa has been actively expanding its market into China by working closely with YungShin Pharma Ind. Co. Ltd. And Sichuan Neijiang Hui Xin Pharmaceutical Co. Ltd. to establish a new pharmaceutical company in Sichuan Neijing with a total investment of US$23million. The new pharmaceutical company is expected to be operational in 2016 and will manufacture and sell medicine intermediates, API and prescription drugs.

By combining advantages from Formosa's pharmaceutical ingredients, YungShin's drug manufacturing capabilities, and Hui Xin's existing local marketing channels and know-how, the vertically integrated pharmaceutical group will aim to gain a significant market share in China.

In addition to supply API to generic pharmaceutical company, Formosa also offer CRO/CMO service to new drug development company. In general, except big pharmaceutical company, most of new drug development companies fill their demand by taking CRO/CMO service instead of setting up in-house facilities.

Due to worldwide economy issue, the big pharmaceutical companies are seeking for well-equipped, GMP compliance CMO service for cost down purpose.

Formosa Labs has many working experiences with high reputed pharmaceutical companies.

Biosimilars are big potion of pharmaceutical industry, Formosa also make progress on the market of protein drugs. In 2012, Formosa founded EirGenix. In 2013, EirGenix won the bid of protein factory spin off from DCB (Development Center of Biotechnology) In 2014, Formosa and EirGenix signed a collaboration contract for ADCs (antibody-drug-conjugates) drug development. Later on the two company alliance with Austrian company, Tube Pharma, to conduct the screening of ADCs and Linkers, which will facilitate the development and industrialization of the ADC technology platform. In the future, Formosa intends to expand CRO/CMO services to ADCs products, which will create a new market growth driver for the company.