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Medicure Announces Termination of ReDSTM Pro Marketing and Distribution Agreement
Medicure Announces Termination of ReDSTM Pro Marketing and Distribution Agreement ...
About this update from Medicure Inc.
[{"type":"text","content":"\n\n\n\nMedicure Announces Termination of ReDSTM Pro Marketing and Distribution Agreement\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nWINNIPEG, MB, Aug. 20, 2020\n\n\n\nSTRENGTHENS FOCUS ON MARKETING OF AGGRASTAT® AND ZYPITAMAGTM\n WINNIPEG, MB, Aug. 20, 2020 /CNW/ - Medicure Inc. (\"Medicure\" or the \"Company\") (TSXV: MPH) (OTC: MCUJF), a pharmaceutical company, today announced the termination of the marketing and distribution agreement with Sensible Medical Innovations Inc. (\"Sensible\") for the marketing of the ReDSTM Pro (\"ReDS Pro\") device in the United States. In connection with the termination, Sensible and the Company have entered into a transition agreement which provides additional compensation to Medicure for sales to customer leads provided by Medicure.\nMedicure continues to hold a 7.71% equity stake, on a fully diluted basis, in Sensible Medical Innovations Ltd. (\"Sensible Medical\"), the parent company of Sensible. Medicure will continue to support Sensible in its transition to a new marketing and distribution arrangement in order to secure its investment in Sensible Medical.\nThe termination of the marketing and distribution agreement with Sensible followed an in-depth strategic review of its alignment with Medicure's other lines of business. \"The discontinuation of marketing and distribution activities related to the ReDS Pro device in the United States market will result in Medicure strengthening its focus on its own products, AGGRASTAT® and ZYPITAMAGTM, which provide a higher profit margin to Medicure\" commented Dr. Albert D. Friesen, Medicure's Chief Executive Officer.\nAbout Medicure Inc.Medicure is a pharmaceutical company focused on the development and commercialization of therapies for the U.S. cardiovascular market. The present focus of the Company is the marketing and distribution of AGGRASTAT® (tirofiban hydrochloride) injection and ZYPITAMAGTM (pitavastatin) tablets in the United States, where they are sold through the Company's U.S. subsidi...