SINGAPORE (Apr 26): Hyphens Pharma International, the specialty pharmaceutical and consumer healthcare group which also owns the Ocean Health brand of supplements, has lodged a preliminary offer document with Singapore Exchange (SGX) to list on its Catalist Board in 2018.
Hyphens Pharma incorporated in Dec 2017 as a private company, and on Apr 20 this year was converted into a public limited company following a restructuring exercise.
Through its wholly-owned subsidiary Pan-Malayan Pharmaceuticals, the group engages in the wholesale of pharmaceuticals and medical supplies in Singapore via both the conventional business model of tele-sales and sales representatives, as well as an online B2B platform at www.pom.com.sg.
Its other wholly-owned subsidiary, Hyphens Singapore, has a direct presence in Singapore, Vietnam, Malaysia, Indonesia and the Philippines via the group’s proprietary Hyphens and Ocean Health brands, which carry dermatological products and health supplement products developed, marketed and sold by the group.
While Hyphens Pharma’s key proprietary products comprise dermocosmetic products marketed under its Ceradan and TDF brands primarily through medical professionals, its health supplement products are marketed under its Ocean Health brand directly to consumers in Singapore via retail channels, such as major retail pharmacies.
From 2015 to 2017, group earnings rose from $5.1 million to $6.1 million. Revenue rose 45% from $78.3 million to $113.2 million in that period.
Revenue in 2017 increased by 12.1% from $101 million in 2016 due to higher revenue contributions from its specialty pharma principals, proprietary brand sand medical hypermarket and digital segments.
Hyphens Pharma’s directors are positive on the outlook of the group’s business given strong economic growth in ASEAN countries with increased health expenditure; increased life expectancy with the region’s aging population; and the rising prevalence of atopic dermatitis, which the management believes creates a substantial market for its relevant products such as those under the Ceradan brand.
While the group does not have a fixed dividend policy, its board intends to recommend and distribute dividends of at least 30% of its net profits attributable to shareholders for each of 2018 and 2019, in an effort to reward shareholders for participating in the group’s growth.