Medicure Reports Financial Results for Q1 2024 and Director Election Results

WINNIPEG, MB / ACCESSWIRE / May 28, 2024 / Medicure Inc. (TSXV:MPH)(OTC PINK:MCUJF), a company dedicated to developing and commercializing pharmaceuticals in the US, announced its Q1 2024 financial results and the election of directors at its recent annual meeting.

Medicure's total net revenue for Q1 2024 was $5.7 million, slightly up from $5.6 million in Q1 2023. Revenue from AGGRASTAT® sales decreased to $2.3 million from $2.7 million year-over-year due to increased competition. However, the Marley Drug business showed a revenue increase to $2.7 million, driven by higher sales of ZYPITAMAG® and other pharmacy revenue.

Adjusted EBITDA for Q1 2024 was $359,000, compared to $916,000 in Q1 2023. Net income for the quarter declined to $51,000 from $290,000, impacted by higher administrative and R&D expenses.

At the annual meeting, six directors were elected, including new appointee Kim Kline, who brings extensive experience from her roles in BioTalent Canada and the Bioscience Association of Manitoba.