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4166

友霖 Biotech & Healthcare As of 2026-06-17 Updated daily after market close

steady quality, fair valuation, no active signal today.

This page refreshes daily after the close. Add 友霖 to your watchlist to track signal changes on your next visit.
Valuation 30Quality 59Growth 32Momentum 50Chips 9

Is 友霖 a buy? Fundamentals and valuation first

  • Above-average profitability.Operating margin is in the 73th market percentile. Latest quarterly ROE ≈ 1.5%.

  • Valuation is neutral.PE is in the 62th market percentile.

  • Foreign investors are net selling.Foreign 20-day net flow ≈ -5.5% of volume (net sell).

Chip flow

Bullish +0.17
BearishNeutralBullish

Institutional rotation, concentration steady — bullish

  • Institutional rotation, concentration steady — bullish
  • 群益金鼎-士林 holds 1,132 lots
  • sellers have 186 lots left, ~118 sessions to clear

Window from 2026-01-17 · Price -8% · branches to 2026-06-17· TDCC to 2026-06-12

  • Largest holder 群益金鼎-士林 has accumulated 1,132 lots since the start (sold 4%), now trimming.
  • Main distributor 群益金鼎-天母 peaked at 187 lots, has sold 84%, 30 left, ~4 sessions to clear at the recent pace.
  • TDCC big holders (absolute) >1000-lot holders -0.53pp, mid holders -1, retail +0.52pp — little change.
  • Foreign hedge-desk net short Net short -921 lots (inferred from branch profile, mostly hedging — not necessarily bearish, not case-confirmed).
Branch inventory reconstruction
Accumulating holders Branches that accumulated shares during the window and still hold positive inventory; they are the absorbing side.
Distributing sellers Branches that built inventory earlier and have been selling it down; the remaining number estimates what has not cleared.
Net-short desks Trading-desk branches with negative inventory or net selling, often hedge, offsetting, or short-term flow. It is not automatically a bearish view.
Accumulating
群益金鼎-士林台新-世貿新光兆豐-南門凱基-台中台灣企銀-桃園
Distributing
群益金鼎-天母宏遠-民生富邦-嘉義富邦-台南京城-嘉義元大-旗山
Desks
own scale
玉山-台中元大-新竹凱基-台北玉山-新竹
Price Accumulating & Distributing share one scale (comparable); Desks is independent. Zero is the baseline
Branch details Unit: lots

Accumulating

  • 群益金鼎-士林 +1,132
    sold 4%
  • 台新-世貿 +1,008
    sold 0%
  • 新光 +630
    sold 0%· still adding
  • 兆豐-南門 +458
    sold 0%
  • 凱基-台中 +365
    sold 0%· still adding
  • 台灣企銀-桃園 +322
    sold 0%

Distributing

  • 群益金鼎-天母 30 left
    sold 84%· ~4 sessions to clear
  • 宏遠-民生 59 left
    sold 25%· ~118 sessions to clear
  • 富邦-嘉義 16 left
    sold 68%· paused recently
  • 富邦-台南 21 left
    sold 57%· ~8 sessions to clear
  • 京城-嘉義 20 left
    sold 53%· ~9 sessions to clear
  • 元大-旗山 23 left
    sold 45%· paused recently

Desks

  • 玉山-台中 -2,089
    unclassified
  • 元大-新竹 -1,150
    unclassified
  • 凱基-台北 -507
    day-trade · selling pressure
  • 玉山-新竹 -457
    unclassified
Still selling 186 lots ~118 sessions to bottom at most
Recent buy/sell force +2,111 absorbed / -187 sold buyers slightly ahead
Hedge-desk net short -328 lots potential cover-buying, not selling pressure
TDCC big holders · absolute-holding cross-check
>1000-lot holder share Retail (<400 lots) share Price (right axis)

Weak direction: big-holder share fell while retail share rose.

Describes chip flow, not investment advice. Branch data discloses only high-volume branches with ~1-day lag; TDCC is weekly. Inventory is a relative reconstruction from the window start, not absolute holdings.

Historical evidence

Signals not active (historical stats for reference)

These are not occurring now; historical samples shown for comparison.

252-day price high (breakout)

Pending

Adjusted close makes a new 252-day high; repeats within 20 days counted once.

Monthly revenue YoY ≥ 20% (from filing deadline)

Pending

Monthly revenue YoY ≥ 20%; event date is the first trading day after the filing deadline (no look-ahead).

Foreign net buying for 5 straight days

Pending

Foreign net flow (ex-dealer) positive for 5 straight days; event on day 5; repeats within 20 days counted once.

What does 友霖 do? Company profile

生技醫療業；西藥製劑、新藥開發、製藥製造 櫃買中心上櫃

Overview

4166 對應證券為友霖生技醫藥股份有限公司普通股，市場別為櫃買中心上櫃。公司成立於2008年2月1日，統一編號28924399，登記地址為中部科學園區雲林縣虎尾鎮科虎一路8號，台北辦公室位於台北市北投區承德路六段128號。董事長為蔡正弘，總經理兼發言人為黃春桐。主要經營業務為西藥研發、製造及銷售。公司於2012年6月15日登錄興櫃，並於2025年8月21日上櫃掛牌；承銷價資訊見公開新聞與櫃買資料。官方及公司登記資料顯示，截至近期揭露，實收資本額約新台幣24.3035億元，已發行普通股約243,035,089股。114年度年報揭露，截至115年4月18日，員工合計約238人；主要股東包括友華生技醫藥股份有限公司持股約54.70%、Bio-Nutri CO., LTD.約4.67%、中國信託託管CGH亞洲有限公司投資專戶約4.27%、三德觀光大飯店股份有限公司約4.23%、和強股份有限公司約2.67%、和杏實業股份有限公司約1.91%、愛斯佳投資股份有限公司約1.89%等。

Business

友霖是友華集團旗下製藥公司，核心定位為利基型學名藥與505(b)(2)改良型新藥的開發、製造、授權與銷售，重點治療領域包括中樞神經、心血管、代謝/糖尿病、抗感染及自體免疫相關用藥。公司主要技術平台包括半固態多層次藥物釋放技術SMRT、多單元圓粒系統MUPS、滲透壓控制釋放OROS，策略上以高技術門檻劑型、複方、長效/緩釋與Paragraph IV學名藥切入。114年度年報揭露營業收入約新台幣14.00378億元，其中銷貨收入12.64136億元、占90.27%，勞務收入2,733.1萬元、占1.95%，權利金收入1.08911億元、占7.78%；主要銷售地區為台灣10.71119億元、占76.49%，美國2.32294億元、占16.59%，菲律賓4,867.9萬元、占3.48%，其他4,809.3萬元、占3.43%。主要產品包含ADHD長效新藥Methydur/思有得持續性藥效膠囊、降血脂複方Tonvasca/同抑脂膠囊、Trokendi持續性釋放膠囊、Okedi長效注射劑、Vancomycin凡可復膠囊、Pitavastatin、Ezeler/Ezetimibe等。Methydur為與美國DURECT相關技術合作及授權產品，已於台灣上市並納入健保，年報引用IQVIA 2025資料指出其在國內長效型methylphenidate市場銷售額占比約40%。公司同時透過美國學名藥市場、國際授權、代理/經銷夥伴及台灣醫院、診所、藥局通路商業化。

Outlook 2025–2028

2025至2028年展望主要來自四條主線。第一，既有產品Methydur、Vancomycin、糖尿病/降血脂相關學名藥與台灣精神科產品的市占與滲透率提升，可支撐國內利基藥與美國學名藥收入。第二，三大平台SMRT、MUPS、OROS逐步導入新產品，尤其長效控釋、複方與高門檻學名藥，可望改善毛利結構與提高產品進入障礙。第三，2025至2028年間公司對外表示將新增多項新品上市，包含抗阿茲海默症等產品；若藥證、健保給付、商業化時程順利，將形成新成長動能。第四，美國市場合作擴張：2026年公司宣布與Cipla/Invagen簽署美國商業代理合約，授權其銷售Tofacitinib XR 11mg/22mg長效口服緩釋劑型學名藥，並可能收取簽約金、FDA核准里程碑金、上市里程碑金與銷售分潤。產業面則受惠高齡化、慢性病與中樞神經疾病用藥需求、全球學名藥控費需求、專利懸崖與complex generics趨勢。主要風險包括新藥與改良型新藥開發成功率不確定、藥證審查與臨床試驗時程延遲、台灣健保藥價壓力、美國學名藥價格競爭、Paragraph IV訴訟與和解風險、原料藥/API供應與法規查廠風險、匯率波動、單一或少數產品貢獻偏高、國際通路合作成效不如預期。

Supply Chain

Upstream
  • DURECT Corporation 美國公司；與友霖Methydur/ADHD長效藥物相關技術合作及授權來源，非台股掛牌公司。
  • 經cGMP、USFDA或歐盟查廠/具DMF或COS之原料藥與賦形劑供應商 年報說明原物料來源含國內採購與歐、美、亞洲進口，主要供應商因契約或交易保密未完整揭露名稱；非特定台股公司。
  • Glatt等製藥設備供應商 製藥設備/產能擴充相關國際供應商；公開資料提及友華/友霖曾採購頂級製藥機械，非台股掛牌公司。
  • 友華生技醫藥股份有限公司 4120 台股上櫃公司，為友霖母公司及最大股東；年報主要供應商表列友華生技，亦與Okedi授權引進及集團資源有關。
Downstream
  • 台灣醫學中心、區域醫院、地區醫院、診所與藥局 友霖國內處方藥銷售終端及通路；多為醫療院所或藥局體系，非單一台股掛牌公司。
  • Cipla/Invagen Pharmaceuticals Inc. 印度/美國製藥集團相關公司；2026年與友霖簽署美國商業代理合約，負責Tofacitinib XR於美國市場銷售，非台股掛牌公司。
  • Korea Pharma Co., Ltd. 韓國製藥公司；公開資料顯示曾與友霖/Orient Pharma之兒科ADHD藥物韓國市場銷售有關，非台股掛牌公司。
  • 友華生技醫藥股份有限公司 4120 台股上櫃公司；友華集團通路及品牌資源可能支援友霖產品國內外商業化，亦為主要股東。

Competitors

Sources（15）

This company profile is compiled from public sources (annual reports, filings, news and analyst reports), not finlab backtest data; the 2025–2028 outlook contains forward-looking estimates and is for reference only.

Method and limitations

  • All returns use adjusted close (etl:adj_close), already adjusted for dividends and splits.
  • Excess return is measured against the TAIEX total-return index (dividends included).
  • Valuation regime and percentile stats use an expanding own-history window (no future data).
  • Revenue-signal event dates align to the first trading day after the filing deadline, avoiding look-ahead.
  • Event samples may overlap in time; stats describe historical distribution only and are less reliable when samples are few.

This page is historical statistics for educational purposes and is not investment advice. Investing involves risk; past performance does not indicate future results. Assess and bear the risk yourself before trading.