+ Revenue growth across key segments. Specialty pharma revenue surged 45% YoY in 1H22 to S$48mn. Excluding Novem, organic growth was 18% YoY to S$39mn. The return of more elective surgeries and other visits postponed during the pandemic were some drivers of demand. Proprietary brands growth of 16% YoY was led by key brands in dermatological (Ceradan and TDF) and health supplements (Ocean Health).
– Loss of Biosensor. Hyphens announced it has amicably ceased the distribution of Biosensor by the end of 2022. Biosensor contributed 6% of revenue in 1H22 catering to the Vietnam market. All related costs and inventories will be wound down as the distribution agreement ends.
Hyphens continue to take steps in expanding its proprietary brands in the region. New Ocean Heath products (Omega 3, Vitamin D3) are to be launched in Malaysia and Vietnam. An exclusive license and supply agreement with Lederlon for the treatment of osteoarthritis has been inked.