BioSyent Inc. has reported strong financial results for the first quarter of 2024, showing significant growth in various key areas. The Canadian pharmaceutical sales saw an 18% increase, reaching $7,546,144 in Q1 2024 compared to the same period in 2023. International pharmaceutical sales also saw a substantial increase of 789%, reaching $1,047,747.
Overall, the total company sales for BioSyent reached $7,733,636 in Q1 2024, showing a 19% increase compared to the previous year. The company’s EBITDA also saw a significant growth of 45%, reaching $2,204,193 in the first quarter of 2024.
The CEO of BioSyent, René Goehrum, expressed his satisfaction with the company’s performance, highlighting the growth in Canadian pharmaceutical sales and the positive contributions from the launch brands. He emphasized the company’s focus on continuing to grow the Canadian pharmaceutical business throughout the year.
In addition to the financial results, BioSyent also announced the repurchase of 156,200 common shares under a Normal Course Issuer Bid (NCIB) during Q1 2024. The company also increased its quarterly cash dividends by 12.5% to $0.045 per common share.
Investors and stakeholders can access the full details of BioSyent’s financial results for Q1 2024 on their website and SEDAR. The company remains optimistic about its future growth and is committed to delivering value to its shareholders.