BioSyent Releases Q4 and Full Year 2013 Results: Full Year Sales Increase 55%, Net Income Up 25%, 3 Year CAGR 67%, Q4 Sales Increase 61%

TORONTO, ONTARIO--(Marketwired - March 12, 2014) - BioSyent Inc. ("BioSyent") (TSX VENTURE:RX) released today a summary of its Fiscal 2013 and Fourth Quarter (Q4 2013) financial results. Key highlights include:

• Full year 2013 Sales of $7,799,426 increased by 55% versus 2012
• Revenue has grown at a compound annual growth rate (CAGR) of 67% over the last three years
• Full year 2013 Pharmaceutical Sales of $6,969,031 increased by 63% versus 2012
• Seventeen consecutive quarters of continued pharmaceutical sales growth
• 2013 Net Income Before Tax of $2,452,840 increased year over year by 75%
• 2013 Tax Expense (net of deferred tax credit) was $524,812 versus ($142,195) in 2012
• Net Income After Tax of $1,928,028 increased by 25% versus 2012
• 2013 Basic EPS of $0.14; Fully Diluted EPS of $0.13
• Cash Generation in 2013 of $2,065,082 was 64% higher than 2012
• The company ended 2013 with $4,405,910 in working capital of which cash was $4,381,137
• The company remains debt-free and has an unutilized operating line of credit with Royal Bank of Canada
• Selected as a TSX Venture 50 Top Performer for three consecutive years - 2012, 2013 and 2014
• Named as one of Canada's fastest growing companies in the Profit 500 rankings for 2013
• 2 New Products submitted to Health Canada awaiting marketing approval
• Pre-launch activity for a new Women's Health product - launch planned for second quarter of 2014
• Pre-launch activity for a new Gastrointestinal Health product - launch planned for fourth quarter of 2014

Total sales for Q4 2013 of $2,142,835, were 61% higher compared to $1,327,953 in the corresponding prior year period. On a full year basis, sales in 2013 of $7,799,426 were 55% higher than the previous year sales $5,024,154.

Income Before Tax for Q4 2013 was $619,124, which was 71% higher than $361,237 in Q4 2012. Net Income Before Tax for full year 2013 was $2,452,840, an increase of 75% over the corresponding prior year period.

The Company recognized a deferred tax credit of $232,199 in the fourth quarter of 2012. The Company further recognized a deferred tax credit of $123,332 in the fourth quarter of 2013. These deferred tax credits pertain to the full year of 2012 and 2013. The increase of Net Income After Tax in the fourth quarter of 2013 is 59% over the fourth quarter of 2012 reckoned without these deferred tax credits.

The Company has provided for tax of $524,812 (net of deferred tax credit) in 2013 versus ($142,195) in 2012. Inspite of this difference in tax expense, Net Income After Tax increased by 25% from $1,541,317 in 2012 to $1,928,028 in 2013.

Working capital, which is the difference between current assets and current liabilities, increased by 76% from $2,509,278 as at December 31, 2012 to $4,405,910 as at December 31, 2013. Total Cash included in working capital on December 31, 2013 was $4,381,137. Total Shareholder's Equity increased by 71% from $2,839,409 at December 31, 2012 to $4,854,630 at December 31, 2013. This is mainly due to an increase in retained earnings in 2013.

On October 1, 2013 the Company signed an exclusive Canadian Licence and Distribution Agreement with a new European Partner for a Women's Health product that has prior approval from Health Canada. The Company plans to launch the product in the second quarter of 2014.

Subsequent to year-end, BioSyent in-licensed a new Gastrointestinal Health product from an existing European partner. This product is approved by Health Canada and is being prepared for launch in Q4 2014.

The Company's Consolidated Financial Statements and Management's Discussion & Analysis will be posted on www.sedar.com on March 12, 2013.

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

BioSyent will also release a CEO presentation on the Fourth Quarter and Full Year 2013 Financial Results at the following link: www.biosyent.com/q4/.

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 13,626,195 shares issued and outstanding.

BioSyent Inc.

Consolidated Statement of Comprehensive Income

In Canadian Dollars	Q4 2013		Q4 2012		% Change		Full Year 2013		Full Year 2012		% Change
Revenues	2,142,835		1,327,953		61	%	7,799,426		5,024,154		55	%
Cost Of Goods Sold	448,614		251,401		78	%	1,644,266		1,040,136		58	%
Total Operating Expense	1,075,097		715,315		50	%	3,702,320		2,584,896		43	%
Net Income Before Tax	619,124		361,237		71	%	2,452,840		1,399,122		75	%
Tax (including Deferred Tax)	63,580		(142,195	)	NA		524,812		(142,195	)	NA
Net Income After Tax	555,544		503,432		10	%	1,928,028		1,541,317		25	%
Net Income After Tax % to Sales	26	%	38	%			25	%	31	%

BIOSYENT INC.
ANNUAL CONSOLIDATED STATEMENT OF FINANCIAL POSITION
	December 31,	December 31,	%
AS AT	2013	2012	Change
ASSETS
Receivables	585,519	589,697	-1	%
Inventory	522,787	345,630	51	%
Prepaid expenses & deposits	136,511	71,257	92	%
Cash & Cash Equivalents	4,381,137	2,316,055	89	%
Current Assets	5,625,954	3,322,639	69	%
Equipment	141,025	97,932	44	%
Intangible Assets	52,994	-
Deferred Tax	271,559	232,199	17	%
TOTAL ASSETS	6,091,532	3,652,770	67	%
LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities	1,220,044	813,361	50	%
Deferred Tax Liability	16,858	-
Total Equity	4,854,630	2,839,409	71	%
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	6,091,532	3,652,770	67	%

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 of the same.