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BioSyent Releases Q2 and Six Month Results-Q2 Sales Increase 72%, Net Income After Tax Up 112%

TORONTO, ONTARIO -- (Marketwired) -- 08/21/14 -- BioSyent Inc. ("BioSyent") (TSX VENTURE: RX) released today a summary of its Second Quarter (Q2 2014) and first half (H1 2014) financial results for the three and six months ending June 30, 2014. Key highlights include:

--  Q2 2014 Sales of $3,072,395 increased by 72% versus Q2 2013
--  First six months (H1 2014) Sales of $5,520,496 increased by 66% versus
    H1 2013
--  Q2 2014 Revenue has grown at a compound annual growth rate (CAGR) of 68%
    over the corresponding quarters of the last three years
--  First six months (H1 2014) Revenue has grown at a compound annual growth
    rate (CAGR) of 70% over the corresponding 3 years period
--  Q2 2014 Pharmaceutical Sales of $2,893,162 were up 72% versus Q2 2013
--  H1 2014 Pharmaceutical Sales of $5,236,170 increased by 75% versus H1
--  Nineteen consecutive quarters of continued pharmaceutical sales growth
--  Q2 2014 Net Income Before Tax of $1,219,855 increased by 125% versus Q2
--  H1 2014 Net Income Before Tax of $1,907,527 increased by 86% versus
    $1,024,927 in H1 2013
--  Q2 2014 Net Income After Tax of $888,805 increased by 112% versus Q2
--  H1 2014 Net Income After Tax of $1,400,226 increased by 84% versus H1
--  Q2 2014 Diluted EPS of $0.06 versus $0.03 in Q2 2013
--  Trailing twelve months (TTM) fully diluted EPS of $0.18
--  The company remains debt-free and has an unutilized operating line of
    credit with Royal Bank of Canada
--  New Urgent Care product received Health Canada marketing approval in Q2
--  Launched new Women's Health Product - RepaGyn® in Q2 2014
--  Pre-launch activity for a new Gastrointestinal Health product - launch
    planned for fourth quarter of 2014
--  In July BioSyent in-licensed a third new Urgent Care Drug Product from
    the same European partner
--  Selected as a TSX Venture 50 Top Performer for three consecutive years -
    2012, 2013 and 2014
--  For the second consecutive year BioSyent named as one of Canada's
    fastest growing companies in the Profit 500 rankings with a five year
    growth rate of 608%

Total sales for Q2 2014 of $3,072,395, were 72% higher compared to $1,786,684 in the corresponding prior year period. Total Sales for H1 2014 of $5,520,496 were 66% higher than H1 2013.

Pharmaceutical Sales in Q2 2014 increased by 72% from $1,683,793 in Q2 2013 to $2,893,162 in Q2 2014. Total Pharmaceutical Sales for H1 2014 of $5,236,170 were 75% higher than H1 2013.

Net Income Before Tax for Q2 2014 was $1,219,855, which was 125% higher than $542,964 in Q2 2013. Net Income Before Tax for H1 2014 was $1,907,527 or 86% higher than the corresponding prior year period.

Net Income After Tax increased by 112% from $418,325 in Q2 2013 to $888,805 in Q2 2014. Net Income After Tax for H1 2014 was $1,400,226 or 84% higher than the corresponding prior year period.

Basic & Dilluted Earnings Per Share (EPS) was $0.06 in Q2 2014 vs. $0.03 in Q2 2013. H1 2014 Basic EPS was $0.10 vs. $0.06 in H1 2013. Diluted EPS in H1 2014 was $0.10 vs. $0.05 in H1 2013.

Working capital, which is the difference between current assets and current liabilities, increased by 34% from $4,405,910 as at December 31, 2013 to $5,890,238 as at June 30, 2014. Total Cash included in working capital on June 30, 2014 is $4,830,796. Total Shareholder's Equity increased by 31% from $4,854,630 at December 31, 2013 to $6,337,976 at June 30, 2014.

The Company plans to launch a new Gastrointestinal product in the fourth quarter of 2014. The Company also received Health Canada approval on one of its two urgent care products and is planning to launch the product in late 2014 or early 2015.

On July 23, 2014 BioSyent Pharma in-licensed a third urgent care product from an existing European partner. This product will be launched after Health Canada approval.

The Company's Consolidated Financial Statements and Management's Discussion & Analysis will be posted on on August 21, 2014.

For a direct market quote (15 minutes delay) for the TSX Venture Exchange and other Company financial information please visit

BioSyent will also release a CEO presentation on the Second Quarter at the following link

About BioSyent Inc.

Listed on the Toronto Venture Exchange under the trading symbol "RX", BioSyent is a profitable growth oriented specialty pharmaceutical company which searches the globe to in-license or acquire innovative pharmaceutical products that have been successfully developed, are safe and effective, and have a proven track record of improving the lives of patients and supporting the healthcare professionals that treat them.

Once a product of interest has been found, BioSyent then acquires the exclusive rights to the product and manages it through the Canadian governmental regulatory approval process. Once approved, BioSyent markets the product throughout Canada.

At the date of this press release the Company had 13,801,195 shares issued and outstanding.

                               BioSyent Inc.
      Interim Unaudited Consolidated Statement of Comprehensive Income

                                              %                           %
In Canadian Dollars    Q2 2014   Q2 2013 Change    H1 2014   H1 2013 Change
Revenues             3,072,395 1,786,685     72% 5,520,496 3,328,528     66%
Cost Of Goods Sold     633,754   387,337     64% 1,173,278   695,806     69%
Gross Profit         2,438,641 1,399,348     74% 4,347,218 2,632,722     65%
Total Operating
 Expense             1,218,786   856,384     42% 2,439,691 1,607,795     52%
Profit Before Tax    1,219,855   542,964    125% 1,907,527 1,024,927     86%
Tax (including
 Deferred Tax)         331,050   124,639     NA    507,301   262,192     NA
Profit After Tax       888,805   418,325    112% 1,400,226   762,735     84%
Profit After Tax % to
 Sales                      29%       23%               25%       23%

                               BIOSYENT INC.

                                         June 30,   December 31,          %
AS AT                                        2014           2013     Change
Receivables                             1,393,864        585,519        138%
Inventory                                 814,113        522,787         56%
Prepaid expenses & deposits               133,658        136,511         -2%
Cash & Cash Equivalents                 4,830,796      4,381,137         10%
Current Assets                          7,172,431      5,625,954         27%

Equipment                                 167,490        141,025         19%
Intangible Assets                          56,387         52,994          6%
Deferred Tax                              240,719        271,559        -11%
TOTAL NON CURRENT ASSETS           $      464,596 $      465,578          0%

TOTAL ASSETS                            7,637,027      6,091,532         25%


Current Liabilities                     1,282,193      1,220,044          5%
Deferred Tax Liability                     16,858         16,858
Total Equity                            6,337,976      4,854,630         31%
 SHAREHOLDERS' EQUITY                   7,637,027      6,091,532         25%

This press release may contain information or statements that are forward-looking. The contents herein represent our judgment, as at the release date, and are subject to risks and uncertainties that may cause actual results or outcomes to be materially different from the forward-looking information or statements. Potential risks may include, but are not limited to, those associated with clinical trials, product development, future revenue, operations, profitability and obtaining regulatory approvals.

The TSX Venture Exchange assumes no responsibility for the accuracy of this release and neither approves nor disapproves the same.

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