Mr. Rene Goehrum reports

BIOSYENT RELEASES Q3 AND YTD 2023 FINANCIAL RESULTS

BioSyent Inc. has released its financial results for the three months (Q3) and nine months (year to date (YTD)) ended Sept. 30, 2023. Key highlights include:

• Return on equity for the trailing 12 months ended Sept. 30, 2023, was 18 per cent as compared with 19 per cent for the trailing 12 months ended Sept. 30, 2022.
• During YTD 2023, repurchased for cancellation a total of 306,700 common shares under a normal course issuer bid (NCIB).
• Paid quarterly dividends of four cents per common share on March 15, 2023, June 15, 2023, and Sept. 15, 2023, and declared subsequent quarterly dividend of four cents per common share to be paid on Dec. 15, 2023.

"We earned record quarterly revenues in Q3 2023 thanks to double-digit growth in our Canadian pharmaceutical business as well as the shipment of international FeraMAX orders during the quarter, which continue to be uneven from period to period," commented Rene Goehrum, president and chief executive officer of BioSyent. "While we continued to make selling and marketing investments in our 2023 launch products: FeraMAX Pd Maintenance 45 (launched in March, 2023); Inofolic (launched in August, 2023); and Gelclair (to be launched in Q4 2023), we reported a healthy net profit margin of 27 per cent for the third quarter as a result of our sales growth. We plan to make further selling and marketing investments in our launch products in the fourth quarter of 2023 and throughout 2024. While we expect continued overall profit growth in the near term, these launch investments will have a moderating effect on our profit margins relative to revenues until these products gain wider adoption and usage in the market. Over the long term, we expect our expanded product portfolio to deliver continued revenue growth and profit margins that are more in line with our established brands."

The company's interim unaudited condensed consolidated financial statements and management's discussion and analysis for the three and nine months ended Sept. 30, 2023, and 2022, will be posted on SEDAR+ on Nov. 16, 2023.

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 and other health care products that have been successfully developed, are safe and effective, and have a proven record of improving the lives of patients. BioSyent supports the health care professionals that treat these patients by marketing its products through its community, specialty and international business units.

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