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Improved sales boost Hyphens Pharma Q1 profit by 97.6%

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pstrongThe Specialty Pharma Principals led the increase in revenue./strong/p pHyphens Pharma International nearly doubled its net profit for the first quarter of 2024 (Q1 2024) to $2.7m backed by robust revenue during the period. /p pIn a bourse filing, the company said revenue was up 44.

Hyphens Pharma International nearly doubled its net profit for the first quarter of 2024 to $2.7m backed by robust revenue during the period.

“The Specialty Pharma portfolio continues to serve as the primary catalyst for growth in Q1 2024. It has rebounded from supply chain disruptions in H1 2023,” the company noted. “At the same time, we observed similar quarter-on-quarter trending with the Proprietary Brands segment, a reduction in quarter-on-quarter sales could be attributed to the same reason above,” the company said.

The company’s gross profit also improved 32.8% to $17.4m during the quarter. However, the gross profit margin declined to 36.3% due to continued cost pressure and a higher sales mix of products carrying a lower margin.Recently, Hyphens Pharma announced its partnership with 7-Eleven to offer Ocean Health supplements at selected convenience stores in Singapore, the entrance of Ceradan range into five Middle Eastern markets through exclusive distributorship with Cooper Pharma S.A.

 

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