BioSyent Releases Results for Third Quarter and First Nine Months of 2018

BioSyent (TSXV:RX) released today a summary of its financial results for the three and nine months ended September 30, 2018.

As quoted in the press release:

“Q3 2018 marked BioSyent’s 33^rd consecutive profitable quarter,” noted René Goehrum, President and CEO of BioSyent.  “Our Canadian pharmaceutical business delivered 11% growth during the quarter, with growth generated from across our product portfolio.  Our International pharmaceutical business faced some challenges due to trade restrictions in a particular export market which resulted in reductions in the number and size of planned international FeraMAX^® shipments during the quarter.  While we don’t expect these challenges to persist over the long-term, we anticipate further instability in international FeraMAX^® sales in the near-term.  Growth in our Legacy Business during the quarter also declined when compared with a particularly strong Q3 2017.  Although there was an overall decline of 3% in total Company sales for the third quarter of 2018 versus Q3 2017, we are nevertheless encouraged by continued growth in our core pharmaceutical business in Canada.

Click here to read the full press release.