Hyphens Pharma International has reported 97.6% higher y-o-y earnings of $2.7 million for 1QFY2024, nearly double that of the year-earlier period.
Revenue in the same three months ended March increased by 44.4% to $48 million.
The company attributes the better numbers to all-around improvement in sales of its products, especially that from its so-called speciality pharma principals segment, which has rebounded from supply chain woes in 1HFY2023.
In addition, the introduction of new products from the likes of Laboratoires Gilbert in this segment helped drive sales too, the company adds.
Hyphens Pharma sells its proprietary products as well. The slight revenue dip for this segment was attributed to its channel partners stocking up in the preceding 4QFY2023.
Besides boosting sales, the company plans to build long-term growth with acquisitions.
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Hyphens Pharma shares closed at 27 cents on May 14, down 1.85% for the day and down 5.36% year to date.
