In FY2022, Ardence generated sales of $2.8 million and net profit of $817,000 as per Hyphens Pharma’s announcement. The acquisition of the remaining stake in Ardence is to take place across three tranches, with the last tranche expected to complete by FY2027.
Analysts at CGS-CIMB Research and SAC Capital are keeping their “add” and “buy” calls on Hyphens Pharma as they view the company’s acquisition of the remaining 58% stake in Ardence Pharma as favourable.
In his Oct 20 report, CGS-CIMB analyst Tay Wee Kwang describes Ardence as a strategic asset in growing Hyphens Pharma’s medical aesthetics business.
