Welcome to the Q3, September 30th results presentation for BioSyent Inc. My name is René Goehrum, and I'm the President and CEO of the company. I want to draw your attention to our forward-looking statements disclaimer, and as I go into the presentation, we'll start with a look at our sales results on the quarter and on the nine-month basis. So you can see the Canadian pharmaceutical business performance in the quarter was consistent with a YTD plus 12% and plus 13% across the board. The brands are in green in terms of comparable performance to the year ago, with the exception of Gelclair, which had no column in the comparable period. The one thing I will draw your attention to here is that the international pharmaceutical business was down significantly from the year ago.
I think if you've been following us for some period of time, you know that we've got quite a lumpy business there, and the year-ago period was very strong, so the comp there was strong. We do have shipments going out in Q4, and we expect to be able to close the gap that you see here on a nine-month basis of down 24%. Overall, the sales results worked out to record quarter for the entire business, driven by the Canadian pharmaceutical business. Strong performance by the legacy, but it is a significantly small part of the overall business. A thing that I'd like to touch on here is the performance of our EBITDA and net income after-tax margins, slightly down from the year ago as we were investing in launch products, and the margin that we earned on the year-ago international business would have helped the comparison.
But I will point out, as we look at the year-to-date nine-month results, that the EBITDA margin and net income after-tax margin is quite comparable to the year ago. So let's take a look at see how that works out on an earnings-per-share basis. So our 57th consecutive profitable quarter, going back now quite some period of time, drove CAD 0.20 earnings on a fully diluted basis for Q3. On a trailing 12-month basis, that's CAD 0.60. It compares quite favorably with the comparable trailing 12 months at CAD 0.51. So overall, the business is performing and progressing indeed, both on an overall basis and on a per-share basis as well. So let's take a look at some of the highlights.
I do go through this for those of you that follow us kind of on a quarter-to-quarter basis, but if you're new to the story, I like to kind of go back and refresh kind of how we've progressed the business over the course of the year. Back early in the year, BioSyent was named to the TSX Venture 50 top-performing companies. This is out of a universe of well over 1,000 listed companies on the TSX Venture Exchange. Over March, June, and September quarters, we paid CAD 0.045 dividend, representing a 12.5% increase versus the year-ago dividend. FeraMAX was named the number one recommended iron supplement for the ninth consecutive year. I will touch on that a little bit further in the presentation. In April, we extended the license and distribution agreement with our partner for RepaGyn and Proktis.
These are smaller products for us, but profit contributors and still growing, so we're pleased to see that our partner has confidence in us to kick this agreement out to 2032. In June, we in-licensed a new endocrinology asset. I've got a couple of comments on that in a few slides. In September, on September 20th, we announced the acquisition of Tibellia Global. It's Tibellia, Tibella. Tibolone is the chemical entity. I've got a little bit more detail on that as we move through this presentation deck. In the January to September period, we purchased just over 162,000 shares under our NCIB. And then finally, on November 20th, we announced a declaration of a dividend for the fourth quarter in the amount of CAD 0.045 to be paid on December the 16th. I want to circle back to our asset purchase announced on September the 20th.
So we have acquired the global rights to what we are coining as Tibellia Global. This is Tibella, a product that we launched in Canada in mid-2020. Tibella itself has been available worldwide for over 30 years, and we've acquired essentially distribution and license agreements and contracts, intellectual property, manufacturing, and supply agreements for Tibella and hormone replacement therapy drug for the treatment of vasomotor symptoms in women in menopause. So what does this mean for BioSyent? At first look, it will generate incremental revenue. That starts in 2025. We have opportunities to expand distribution of this product to new markets, and we've already started that process of integrating the business into BioSyent International business and interacting with customers and looking for new opportunities for distribution.
The existing customers have already provided their first orders, and we are in the process of manufacturing and preparing for shipment those first orders, so they will go out in the first quarter. For us, importantly as well, this was an opportunity for us to purchase our own Tibella agreement with the vendor. So this has given us a significant margin expansion on the Tibella Canada business. And overall, on a purchase price of about CAD 4.2 million, we paid just less than a five times EBIT on assets that are cash-generating very quickly. So I mentioned FeraMAX was named the number one recommended among pharmacists and doctors in Canada. This is now nine consecutive years. We've used this as a really solid platform of trust and engagement with the healthcare community and patients and consumers to execute a life cycle strategy.
Our most recent launch product was FeraMAX Maintenance 45, which we launched back in March of 2023. That product has been well received and has been gaining momentum as the year 2024 has progressed, and as I have mentioned in past presentations, we are developing a new FeraMAX Pd product that will be launched into market and address an unmet need in the market that we think will drive incremental consumption and therefore incremental revenue for BioSyent. So as we look forward to our portfolio, you know, how do we look at it? Where do we see growth coming across our portfolio? What you see here is likely kind of ranked in order of opportunity for us to drive incremental revenue. The new endocrinology asset, as I mentioned, in-licensed in June. We're preparing that asset to submit to Health Canada for approval.
Such approval takes about a year, so we don't expect this product to see market until 2026. Of course, we've got further growth both happening now on FeraMAX existing assets in market and then a new FeraMAX product coming to market. So we expect FeraMAX to drive continued growth. Tibella and Tibellia will provide revenue growth both ex-Canada and within Canada. Then, of course, there are Inofolic and Gelclair as niche products. Companies such as BioSyent, which doesn't engage in R&D typically, we have invested modestly in R&D on the FeraMAX brand, but other than that, we live on expanding our portfolio through acquisition and in licensing, so that process is ongoing.
We have staff that are fully dedicated to that function and are working on new opportunities as we speak, and we're optimistic that as time goes, we'll be able to add assets to the portfolio that address unmet needs and provide additional opportunity to grow the BioSyent business. This is a good place to check in on our cash position. What you're looking at here is a look back to a trailing 12 months ending September 30th. So this is 2022, 2023, and 2024. You can see that our cash has stayed in a range, kind of in the CAD 28 million-CAD 29 million range. This, if you look just on a trailing 12-month basis, we continue to be without debt. We do have operating lines of credit available to us if required. Our cash from operations to September 30th, 12 months, was CAD 6.7 million.
We have deployed in that period of time, a 12-month period, CAD 2.2 million in buying back share, just under 250,000 shares. We've paid dividends of CAD 2 million. I've spoken about our acquisition of the Tibella assets, so in September, we deployed CAD 3.5 million of a total CAD 4.2 million purchase price, and that does not include additional closing expenses related to it, so we're actively expanding our portfolio, investing in growth, deploying capital, and making sure our portfolio is in such a condition to provide us with growth as we move forward, and all of this leaving us in a situation where our balance sheet is strong and our cash position is strong, and we continue to look for new acquisition assets and in-licensing assets to continue to move our business forward.
Taking a look back at the last just over four years period, starting mid-2020 when we launched Tibella Canada, you can see a little over four-year streak of innovations, product launches, and acquisitions culminating with the Tibellia Global acquisition in September. So we are committed to growing the business, growing our cash flow, and growing our revenue streams to diversify the portfolio. If we take a look at how that kind of links to our capital allocation strategy, our approach is essentially to support our growth and diversification mandate. We've been doing that. We've had eight new product launches in Canada since July of 2020, the Tibella acquisition. Yet our cash position remains strong, and we have determined that it is good value to return capital to shareholders. We started doing that in December of 2018 through NCIB, and then we started in Q4 of 2022 with dividends.
So in that period of time, we've returned CAD 23.2 million to shareholders in the form of NCIB and dividends. We expect that those two will continue to feature in how we move the business forward. Yet we often talk about that first dollar of cash going to investment in the portfolio. So you can see that in our commitment to growing our commercial footprint, growing the assets in our portfolio. And so growth is an important pillar in our strategy, as is diversification. And we think we're being wise as well to move some of that cash that we're generating to our shareholders in the form of NCIB and dividends. I'd like to touch on this slide, our cap table, really just to reinforce our approach to how we're managing our cap table.
I just want to point out that we have not issued an option, a share option, a dilutive share option since March of 2019, so five and a half years now. We've gone without a dilutive activity on the cap table. We pivoted to RSUs. We're not using them in a dilutive way. So we are in the open market, buying shares and holding them in trust to back up our obligations under our RSU plan. So quite the opposite of being dilutive, our fully diluted common shares have been shrinking steadily since December of 2018, and that has continued during the course of this year. I want to thank you for your continued interest in BioSyent. I look forward to reporting our continued progress on the business as we move forward. Thank you.