TORONTO, ONTARIO--(Marketwired - May 25, 2016) - BioSyent Inc. ("BioSyent") (TSX VENTURE:RX) is pleased to announce that its subsidiary BioSyent Pharma International Inc. has signed an exclusive Distribution Agreement with a European partner for two new products in the cardiovascular therapeutic area for the Canadian market. The products have been approved in Europe and in certain other markets around the world and will be launched in Canada if approval is granted by Health Canada. BioSyent intends to submit the dossier seeking marketing approval of the products to Health Canada in 2016.
According to IMS Health data, the cardiovascular market in Canada is valued at CAD $1.6 billion and grew at an annualized rate of +1.9% in 2015. Based on current and forecast market data, and assumptions regarding estimated volume, penetration and pricing, BioSyent forecasts that the two new products will add approximately CAD $20 million to the overall revenue of the company when they reach peak sales.
BioSyent Inc. continues to concentrate on its pharmaceutical strategy to source products that have been successfully developed and proven to be safe and effective; manage these products through the regulatory process and product registration and once approved, market these products in Canada and in certain international markets. The Company is focused on medications that occupy a niche in the market, that are unique either due to complexity of manufacture or provide novel technological or therapeutic advantages, or that are backed by strong partners holding intellectual property rights that are defendable. This strategy allows the Company to market these medications as brands owned by or licensed to it.
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 products that have been successfully developed, are safe and effective, and have a proven track record of improving the lives of patients. BioSyent supports the healthcare professionals that treat these patients by marketing its products through its community, hospital and international business units.
As of the date of this press release, the Company has 14,026,087 shares issued and outstanding.
For a direct market quote (15 minutes delay) for the TSX Venture Exchange and other Company financial information please visit www.tmxmoney.com.
Contact Information:
Mr. Rene C. Goehrum
President and CEO
(905) 206-0013
investors@biosyent.com
www.biosyent.com