Business
Medicure Reports Financial Results for Quarter and Year Ended December 31, 2023
WINNIPEG, MB / ACCESSWIRE / April 8, 2024 / Medicure Inc. (" Medicure " or the " Company ") (TSX...
About this update from Medicure Inc.
[{"type":"text","content":"Medicure Reports Financial Results for Quarter and Year Ended December 31, 2023WINNIPEG, MB / ACCESSWIRE / April 8, 2024 / Medicure Inc. (\"Medicure\" or the \"Company\") (TSXV:MPH)(OTCPINK:MCUJF), a company focused on the development and commercialization of pharmaceuticals and healthcare products for patients and prescribers in the United States market, today reported its results from operations for the quarter and year ended December 31, 2023.Quarter and Year Ended December 31, 2023 Highlights:Recorded total net revenue of $21.7 million during the year ended December 31, 2023 compared to $23.1 million for the year ended December 31, 2022 and;Recorded total net revenue of $5.1 million during the quarter ended December 31, 2023 compared to $6.3 million for the quarter ended December 31, 2022 and;Recorded total net revenue from the sale of AGGRASTAT® of $9.7 million during the year ended December 31, 2023 compared to $11.7 million for the year ended December 31, 2022 and;Recorded total net revenue from the Marley Drug business of $9.6 million ($2.6 million from sales of ZYPITAMAG® , and $7.0 million from other pharmacy revenue) during the year ended December 31, 2023 compared to $7.8 million ($1.5 million from sales of ZYPITAMAG and $6.3 million from other pharmacy revenue)for the year ended December 31, 2022 and;Recorded net revenue through insured business from the sale of ZYPITAMAG of $2.4 million during the year ended December 31, 2023 compared to $3.6 million through insured business for the year ended December 31, 2022 and;Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA1) for the year ended December 31, 2023 was $1.9 million compared to adjusted EBITDA of $3.0 million for the year ended December 31, 2022 and;Net loss for the year ended December 31, 2023 was $922,000 or $0.09 per share compared to net income of $1.4 million or $0.13 per share for the year ended December 31, 2022; the net loss is due in large part to non-cash expenses including $1.6 million of amortization on the purchase of ZYPITAMAG and Marley Drug, and $288,000 of share based compensation expense on stock options granted to employees and directors during the current year.Financial ResultsNet AGGRASTAT product sales for the year ended December 31, 2023, were $9.7 million compared to $11.7 million for the year ended...