BIOYF News & Events

Reports Q3 revenue C$9.56M vs C$8.87M last year. "We are pleased to report our highest-ever quarterly total Company sales in Q3 2024 with 8% growth over the comparative Q3 2023 and 7% growth over the prior quarter, Q2 2024," said Rene Goehrum, President and CEO of BioSyent. "With 12% sales growth in Canadian pharmaceutical sales, all of the Company's Canadian pharmaceutical products contributed to this growth during the quarter. On a year-to-date basis, our total Company sales, EBITDA and NIAT all grew by 13%. On a per share basis, as a result of our ongoing share buybacks, diluted EPS increased by 17% to $0.48 for the year-to-date period."

BioSyent announced that its wholly-owned subsidiary, BioSyent Pharma Inc., has entered into an agreement to acquire certain assets enabling it to supply Tibelia, a tibolone-based hormone replacement therapy drug, to distributors worldwide. Under an Asset Purchase Agreement entered into with the trustees of Novalon SA and Mithra Pharmaceuticals SA, BioSyent Pharma Inc. has acquired intellectual property, global rights, certain licensing, distribution and supply agreements related to Tibelia, as well as certain inventory and equipment, for cash consideration of up to EUR 2.8 million, subject to certain post-closing conditions. Tibolone has been available for over 30 years for the treatment of the symptoms of menopause. Novalon SA licensed and supplied tibolone to partners in 20 countries worldwide, including Canada. BioSyent Pharma Inc. has licensed and marketed tibolone under the Tibella brand name in Canada since 2020. Novalon SA's revenue from this product in 2023 was approximately EUR 2.1 million.