BioSyent Releases Results for Third Quarter and First Nine Months of 2016
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 11/23/16 -- BioSyent Inc. ("BioSyent") (TSX VENTURE: RX) released today a summary of its financial results for the three and nine months ending September 30, 2016. Key highlights include:
"Q3 2016 was a record quarter for BioSyent''s pharmaceutical business, with sales exceeding $4.19 million" commented Rene Goehrum, President and CEO of BioSyent. "Although Q3 2016 international pharmaceutical sales of $0.54 million more than doubled over the prior quarter, they decreased by 27% compared to Q3 2015. In spite of the significant variability in these sales from one quarter to the next, on an annualized basis, we expect to see significant growth in 2016 international pharmaceutical sales over 2015 upon the Q4 2016 shipment of several FeraMAX® orders for international customers."
Mr. Goehrum continued, "while we continued to grow sales of our existing brands in the third quarter with a healthy net profit margin of 26%, we remain committed to offering new and innovative products to Canadian patients and healthcare providers as we look to the future. To this end, we recently secured exclusive Canadian license and distribution rights to a new women''s health prescription drug product from a new European partner. This product will be in a sub-segment of the women''s health market in Canada which is valued at approximately CAD $200 million. In May 2016, we signed an exclusive License and Supply Agreement with another European partner for two new cardiovascular products for the Canadian market. These products will compete in the growing cardiovascular market in Canada which is valued at approximately CAD $1.6 billion. On November 14, 2016, we launched a new urgent care product, phenylephrine hydrochloride injection in the Aguettant System® pre-filled syringe, for use in hospitals and acute care settings. With its proven commercialization platform, BioSyent has become a sought-after Canadian partner for developers and manufacturers of innovative and clinically-supported pharmaceutical products such as these."
The CEO presentation on the Q3 2016 Results is available at the following link:
The Company''s Interim Unaudited Condensed Consolidated Financial Statements and Management''s Discussion & Analysis for the three and nine months ended September 30, 2016 and 2015 will be posted on on November 23, 2016.
For a direct market quote (15 minutes delay) for the TSX Venture Exchange and other Company financial information please visit .
About BioSyent Inc.
Listed on the TSX Venture Exchange under the trading symbol "RX", BioSyent is a profitable growth-oriented specialty pharmaceutical company focused on in-licensing or acquiring innovative pharmaceutical products that have been successfully developed, are safe and effective, and have a proven track record of improving the lives of patients. BioSyent supports the healthcare professionals that treat these patients by marketing its products through its community, hospital and international business units.
As of the date of this press release, the Company has 14,101,087 shares issued and outstanding.
Contacts:
BioSyent Inc.
Mr. Rene C. Goehrum
President and CEO
(905) 206-0013
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Datum: 23.11.2016 - 07:00 Uhr
Sprache: Deutsch
News-ID 1471772
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