Medicure Reports Financial Results for the Year Ended December 31, 2025 and Schedules April 27, 2026 Conference Call
Rhea-AI Summary
Medicure (OTC:MCUJF) reported 2025 results and scheduled a conference call for April 27, 2026 at 8:30 AM ET.
Key metrics: total net revenue $28.9M (2025) vs $21.9M (2024); AGGRASTAT sales $5.7M; Pharmacy revenue $20.3M; ZYPITAMAG sales $6.5M; R&D $3.2M; Adjusted EBITDA -$1.5M; Net loss $7.1M ($0.68/share); cash $3.8M.
Positive
- Total net revenue $28.9M in 2025 versus $21.9M in 2024
- Pharmacy business contributed $20.3M of net revenue in 2025
- ZYPITAMAG total sales of $6.5M in 2025
- Research and development investment of $3.2M in 2025
Negative
- Net loss of $7.1M or $0.68 per share for 2025
- Adjusted EBITDA negative $1.5M for 2025
- AGGRASTAT sales declined to $5.7M from $8.1M year-over-year
- Unrestricted cash decreased to $3.8M from $7.2M at year-end
News Market Reaction – MCUJF
In the Apr 24 session, MCUJF declined 22.14%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
WINNIPEG, MB / ACCESS Newswire / April 23, 2026 / Medicure Inc. ("Medicure" or the "Company") (TSXV:MPH)(OTC: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 year ended December 31, 2025 and will have a conference call to present the Financial Results on April 27, 2026 at 8:30 am Eastern Time.
Quarter and Year Ended December 31, 2025 Highlights:
Recorded total net revenue of
$28.9 million during the year ended December 31, 2025 compared to$21.9 million for the year ended December 31, 2024;Recorded total net revenue of
$8.5 million during the quarter ended December 31, 2025 compared to$5.9 million for the quarter ended December 31, 2024;Recorded total net revenue from the sale of AGGRASTAT® of
$5.7 million during the year ended December 31, 2025 compared to$8.1 million for the year ended December 31, 2024;The Pharmacy Business Segment, which includes Marley Drug, and the Company's two newly acquired pharmacies (purchased in 2025), Gateway Medical Pharmacy and West Olympia Pharmacy, recorded total net revenue of
$20.3 million ($3.7 million from sales of ZYPITAMAG®, and$16.6 million from other pharmacy revenue) during the year ended December 31, 2025 compared to net revenue from the Marley Drug business of$10.8 million ($3.2 million from sales of ZYPITAMAG® , and$7.6 million from other pharmacy revenue) for the year ended December 31, 2024;Recorded total net revenue from the sale of ZYPITAMAG® of
$6.5 million ($2.8 million through the traditional insured channels, and$3.7 million through Marley Drug) during the year ended December 31, 2025 compared to$6.2 million ($3.0 million through the traditional insured channels, and$3.2 million through Marley Drug) for the year ended December 31, 2024;Medicure invested
$3.2 million in research and development during the year ended December 31, 2025, underscoring its commitment to advancing innovative therapies, such as the Phase 3 trial of Medicure's investigational product MC-1 for the treatment of PNPO deficiency and delivering long-term value to patients and shareholders;Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA1) for the year ended December 31, 2025 was negative
$1.5 million compared to adjusted EBITDA of negative$437,000 for the year ended December 31, 2024; andNet loss for the year ended December 31, 2025 was
$7.1 million or$0.68 per share compared to a net loss of$1.0 million or$0.10 per share for the year ended December 31, 2024; the net loss is due in large part to a Centers for Medicare and Medicaid ("CMS") rebate liability issued to the Company in the amount of$2.1 million ,$3.2 million invested into research and development, primarily relating to MC-1 for the treatment of PNPO deficiency, in addition to non-cash expenses including$2.6 million of amortization on the assets relating to the purchase of ZYPITAMAG® and the Pharmacy Business Segment.
Financial Results
Net AGGRASTAT product sales for the year ended December 31, 2025, were
Marley Drug recorded net revenue of
Gateway Pharmacy contributed
West Olympia Pharmacy contributed
ZYPITAMAG through insured channels contributed
Research and development expenditures for the year ended December 31, 2025 totaled
Adjusted EBITDA for the year ended December 31, 2025 was negative
Net loss for the year ended December 31, 2025 was
At December 31, 2025, the Company had unrestricted cash totaling
All amounts referenced herein are in Canadian dollars unless otherwise noted.
The full financial statements are available at www.sedarplus.ca and on the Company's website at www.medicure.com.
Notes
The Company defines EBITDA as "earnings before interest, taxes, depreciation, amortization and other income or expense" and Adjusted EBITDA as "EBITDA adjusted for non‑cash and non-recurring items". The terms "EBITDA" and "Adjusted EBITDA", as it relates to the three months and year ended December 31, 2025 and 2024 results prepared using IFRS, do not have any standardized meaning according to IFRS. It is therefore unlikely to be comparable to similar measures presented by other companies.
Conference Call Info:
Topic: Medicure's 2025 Year End Results
Call date: Monday, April 27, 2026
Time: 7:30 AM Central Time (8:30 AM Eastern Time)
Toll Free: 1 (888) 506-0062
International: 1 (973) 528-0011
Participant Access Code: 182660
Webcast: This conference call will be webcast live over the internet at the following link: https://www.webcaster5.com/Webcast/Page/2965/53928
You may request international country-specific access information by e-mailing the Company in advance. Management will accept and answer questions related to the financial results and operations during the question-and-answer period at the end of the conference call. A recording of the call will be available following the event at the Company's website.
About Medicure Inc.
Medicure is a company focused on the development and commercialization of pharmaceuticals and healthcare products for patients and prescribers in the United States market. The present focus of the Company is the marketing and distribution of AGGRASTAT® (tirofiban hydrochloride) injection and ZYPITAMAG® (pitavastatin) tablets in the United States, where they are sold through the Company's U.S. subsidiary, Medicure Pharma Inc. Medicure also operates Marley Drug Inc. ("Marley Drug"), a pharmacy subsidiary servicing all 50 states, Washington D.C. and Puerto Rico. Marley Drug® is committed to improving access to medications for all Americans together with exceptional customer service and free home delivery. Medicure also operates Gateway Medical Pharmacy, located in Portland, Oregon in a medical office building near major transportation lines and multiple healthcare clinics and centers. In addition to regular customers, the pharmacy services multiple long-term care facilities and provides non-sterile compounding services. Medicure also operates West Olympia Pharmacy, located in Olympia, Washington in a medical office complex near multiple clinics. For more information visit www.marleydrug.com. For more information about Medicure please visit www.medicure.com. For additional information about AGGRASTAT®, please visit www.aggrastat.com or refer to the full Prescribing Information. For additional information about ZYPITAMAG®, please visit www.zypitamag.com or refer to the full Prescribing Information.
To be added to Medicure's e-mail list, please visit:
http://medicure.mediaroom.com/alerts
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Information: Statements contained in this press release that are not statements of historical fact, including, without limitation, statements containing the words "believes", "may", "plans", "will", "estimates", "continues", "anticipates", "intends", "expects" and similar expressions, may constitute "forward-looking information" within the meaning of applicable Canadian and U.S. federal securities laws (such forward-looking information and forward-looking statements are hereinafter collectively referred to as "forward-looking statements"). Forward-looking statements, include estimates, analysis and opinions of management of the Company made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors which the Company believes to be relevant and reasonable in the circumstances. Inherent in forward-looking statements are known and unknown risks, uncertainties and other factors beyond the Company's ability to predict or control that may cause the actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements, and as such, readers are cautioned not to place undue reliance on forward-looking statements. Such risk factors include, among others, the Company's future product revenues, expected results, including future revenue from P5P, the likelihood of receiving a priority review voucher from the United State Food and Drug Administration, expected future growth in revenues, stage of development, additional capital requirements, risks associated with the completion and timing of clinical trials and obtaining regulatory approval to market the Company's products, the ability to protect its intellectual property, dependence upon collaborative partners, changes in government regulation or regulatory approval processes, and rapid technological change in the industry. Such statements are based on a number of assumptions which may prove to be incorrect, including, but not limited to, assumptions about: general business and economic conditions; the impact of changes in Canadian-US dollar and other foreign exchange rates on the Company's revenues, costs and results; the timing of the receipt of regulatory and governmental approvals for the Company's research and development projects; the availability of financing for the Company's commercial operations and/or research and development projects, or the availability of financing on reasonable terms; results of current and future clinical trials; the uncertainties associated with the acceptance and demand for new products and market competition. The foregoing list of important factors and assumptions is not exhaustive. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements or the foregoing list of factors, other than as may be required by applicable legislation. Additional discussion regarding the risks and uncertainties relating to the Company and its business can be found in the Company's other filings with the applicable Canadian securities regulatory authorities or the US Securities and Exchange Commission, and in the "Risk Factors" section of its current Form 20F.
AGGRASTAT® (tirofiban hydrochloride) injection, ZYPITAMAG® (pitavastatin) tablets, and Marley Drug® are registered trademarks.
For more information, please contact:
Dr. Albert D. Friesen
Chief Executive Officer
Tel. 888-435-2220
Fax 204-488-9823
E-mail: info@medicure.com
www.medicure.com
Consolidated Statements of Financial Position
(expressed in thousands of Canadian dollars, except per share amounts)
As at December 31 | 2025 | 2024 | ||||||
Assets | ||||||||
Current assets: | ||||||||
Cash and cash equivalents | $ | 3,835 | $ | 7,191 | ||||
Accounts receivable | 4,817 | 5,298 | ||||||
Inventories | 2,942 | 3,282 | ||||||
Prepaid expenses | 293 | 126 | ||||||
Total current assets | 11,887 | 15,897 | ||||||
Non-current assets: | ||||||||
Property and equipment | 945 | 955 | ||||||
Intangible assets | 7,748 | 9,354 | ||||||
Goodwill | 4,260 | 3,375 | ||||||
Other assets | 109 | 98 | ||||||
Total non-current assets | 13,062 | 13,782 | ||||||
Total assets | $ | 24,949 | $ | 29,679 | ||||
Liabilities and Equity | ||||||||
Current liabilities: | ||||||||
Accounts payable and accrued liabilities | $ | 10,587 | $ | 7,932 | ||||
Income taxes payable | 90 | 95 | ||||||
Current portion of lease obligations | 464 | 368 | ||||||
Acquisition payable | 388 | - | ||||||
Holdback payable | 84 | - | ||||||
Total current liabilities | 11,613 | 8,395 | ||||||
Non-current liabilities | ||||||||
Lease obligations | 427 | 506 | ||||||
Total non-current liabilities | 427 | 506 | ||||||
Total liabilities | 12,040 | 8,901 | ||||||
Equity: | ||||||||
Share capital | 81,014 | 81,014 | ||||||
Contributed surplus | 11,055 | 10,919 | ||||||
Accumulated other comprehensive loss | (5,172 | ) | (4,264 | ) | ||||
Deficit | (73,988 | ) | (66,891 | ) | ||||
Total equity | 12,909 | 20,778 | ||||||
Total liabilities and equity | $ | 24,949 | $ | 29,679 | ||||
Consolidated Statements of Net Loss and Comprehensive (Loss) Income
(expressed in thousands of Canadian dollars, except per share amounts)
For the year ended December 31 | 2025 | 2024 | 2023 | |||||||||
Revenue, net |
|
|
| |||||||||
Product sales, net | $ | 28,855 | $ | 21,907 | $ | 21,694 | ||||||
Cost of goods sold | 17,107 | 8,818 | 7,705 | |||||||||
Gross profit | 11,748 | 13,089 | 13,989 | |||||||||
Expenses | ||||||||||||
Selling | 10,462 | 7,981 | 8,306 | |||||||||
General and administrative | 4,995 | 4,764 | 4,131 | |||||||||
Research and development | 3,179 | 3,081 | 2,406 | |||||||||
18,636 | 15,826 | 14,843 | ||||||||||
Other Income: | ||||||||||||
Other Income | - | (1,860 | ) | - | ||||||||
- | (1,860 | ) | - | |||||||||
Finance costs: | ||||||||||||
Finance income, net | (122 | ) | (165 | ) | (65 | ) | ||||||
Foreign exchange loss, net | 123 | 71 | 108 | |||||||||
1 | (94 | ) | 43 | |||||||||
Net loss before income taxes | $ | (6,889 | ) | $ | (783 | ) | $ | (897 | ) | |||
Income tax expense | ||||||||||||
Current | (208 | ) | (256 | ) | (25 | ) | ||||||
Deferred | - | - | - | |||||||||
(208 | ) | (256 | ) | (25 | ) | |||||||
Net loss | $ | (7,097 | ) | $ | (1,039 | ) | $ | (922 | ) | |||
Item that may be reclassified to profit or loss | ||||||||||||
Exchange differences on translation of foreign subsidiaries: | (908 | ) | 1,725 | (531 | ) | |||||||
Comprehensive Income (loss) | $ | (8,005 | ) | $ | 686 | $ | (1,453 | ) | ||||
Loss per share | ||||||||||||
Basic | $ | (0.68 | ) | $ | (0.10 | ) | $ | (0.09 | ) | |||
Diluted | $ | (0.68 | ) | $ | (0.10 | ) | $ | (0.09 | ) | |||
Consolidated Statements of Cash Flows
(expressed in thousands of Canadian dollars, except per share amounts)
For the year ended December 31 | 2025 | 2024 | 2023 | |||||||||
Cash (used in) provided by: | ||||||||||||
Operating activities: | ||||||||||||
Net loss for the year | $ | (7,097 | ) | $ | (1,039 | ) | $ | (922 | ) | |||
Adjustments for: | ||||||||||||
Current income tax expense | 208 | 256 | 25 | |||||||||
Amortization of property and equipment | 494 | 438 | 434 | |||||||||
Amortization of intangible assets | 2,152 | 1,876 | 1,736 | |||||||||
Share-based compensation | 136 | 196 | 288 | |||||||||
Write-down of inventories, net of recoveries | 458 | 78 | 277 | |||||||||
Finance income, net | (122 | ) | (165 | ) | (65 | ) | ||||||
Unrealized foreign exchange loss (gain) | 123 | 71 | 108 | |||||||||
Change in the following: | ||||||||||||
Accounts receivable | 227 | 150 | 760 | |||||||||
Inventories | 109 | (207 | ) | (31 | ) | |||||||
Prepaid expenses | (204 | ) | 237 | (26 | ) | |||||||
Other assets | - | (18 | ) | - | ||||||||
Accounts payable and accrued liabilities | 2,948 | (494 | ) | (236 | ) | |||||||
Interest received (paid), net | 188 | 175 | 48 | |||||||||
Income taxes paid, net | (180 | ) | (177 | ) | (61 | ) | ||||||
Royalties paid | - | - | (256 | ) | ||||||||
Cash flows from operating activities | (560 | ) | 1,377 | 2,079 | ||||||||
Investing activities: | ||||||||||||
Acquisition of intangible assets | - | (739 | ) | (270 | ) | |||||||
Acquisition of Gateway Pharmacy | (542 | ) | ||||||||||
Acquisition of West Olympia Pharmacy | (1,500 | ) | - | - | ||||||||
Cash used in investing activities | (2,042 | ) | (739 | ) | (270 | ) | ||||||
Financing activities: | ||||||||||||
Repayment of lease liability | (415 | ) | (370 | ) | (353 | ) | ||||||
Stock options exercised | - | - | 56 | |||||||||
Cash used in financing activities | (415 | ) | (370 | ) | (297 | ) | ||||||
Foreign exchange gain (loss) on cash held in foreign currency | (339 | ) | 554 | - | ||||||||
Increase in cash and cash equivalents | (3,356 | ) | 822 | 1,512 | ||||||||
Cash and cash equivalents, beginning of period | 7,191 | 6,369 | 4,857 | |||||||||
Cash and cash equivalents, end of year | $ | 3,835 | $ | 7,191 | $ | 6,369 | ||||||
SOURCE: Medicure, Inc.
View the original press release on ACCESS Newswire