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news.BioSyent has posted total sales of $107052 for the first quarter of 2009, as compared to $287997 during the first quarter of 2008. This resulted in a decline in the gross margins, from 60.2% to 39.6% for the first quarter of 2009.
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The company incurred a loss of $168197 in the first quarter of 2009, compared to $74067 for the same period in 2008.
Management expects that greater sales of higher margin products in the second quarter will see margins improve to a better level.
In future, BioSyent has plans to emphasize on 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 (approval), and once approved, market these products in Canada.