Taiwan's 100 Fastest Growing Companies of 2020

Taiwan's 100 Fastest Growing Companies of 2020.  Bora Makes Top Three for Second Year.

2020.09.29  Source: CommonWealth Magazines

It has been more than six months since the world was thrown into the worst pandemic in recent history. Even in times of crisis, there is good news. For the second year, CommonWealth Magazine is announcing the Hundred Fastest Growing Companies of 2020.

The revenue of these companies grew by 19.47% or more during the last three years. Their average profit margin exceeds the previous year. Bora Makes Top Three for Second Year.

Please refer to the following articles sourcing from CommonWealth Magazine for further information.

 
From Acquisition to Adaptation, Bora Makes Top Three for Second Year in a Row

“We always have a Plan A, Plan B, and Plan C. The one we wind up using is usually Plan C,” confesses Bobby Sheng, CEO of Bora Pharmaceuticals. 

A glance at CommonWealth Magazine’s list of the Hundred Fastest Growing Companies shows Bora at second place. From 2017 to 2019, its CAGR nears 106.7%. It is the only company to make it into the top three for two consecutive years.

Bora made a splash through a series of acquisitions. It bought three pharmaceutical companies in a span of five years. Sheng stresses that, “For a merger to work, resilience is important. Each company you acquire is a different beast. From operations to finances and human resources, everything needs to be carefully reevaluated. If you cannot adapt, you simply won’t make it.”

This March, Bora spent NT$830 million to buy British pharmaceutical giant GlaxoSmithKline’s Canadian plant. Who would have expected that the virus would hit during the acquisition? All the Taiwanese managers who were supposed to fly to Canada to take control of the plant were forcibly grounded. 

“We could not fly, but we had a plan to follow. We redid our budget, hired local talent, and set up video conference calls between Canada and the headquarters in Taiwan. We also worked to integrate the accounting and human resources systems in both countries.” Sheng says their previous series of acquisitions had mentally prepared the team to be always ready for battle. The entire acquisition process is still ongoing. It is slated to finish in the fourth quarter of this year—on schedule.

Sources of information: CommonWealth Magazine https://bit.ly/3vLJNSN