Medicure Announces Q3 2024 Financial Results

Medicure Inc., a Winnipeg-based pharmaceutical company, has announced its financial results for the quarter ending September 30, 2024. The company recorded a total net revenue of $5.2 million, slightly up from $5.0 million in the same quarter of the previous year.

AGGRASTAT® sales generated $1.9 million, reflecting a decrease due to increased competition from generic alternatives. Conversely, the Marley Drug business contributed $2.7 million, an increase from $2.2 million, with ZYPITAMAG® sales expanding to $815,000. Despite a negative adjusted EBITDA of $467,000, net income rose significantly to $680,000 or $0.07 per share, compared to $84,000 or $0.01 per share previously.

Medicure faces challenges with reduced AGGRASTAT® revenues but sees growth in the Marley Drug division. As the company navigates these dynamics, it maintains $4.9 million in cash as of September 30, 2024.