Q2 2024 Medicure Inc Earnings Call Transcript
Key Points
- Medicure Inc (MCUJF) reported consistent revenue from Marley Drug at $2.7 million, indicating stable performance in this segment.
- The company is focusing on growing Marley Drug and Zypitamag sales through its online pharmacy, which could lead to higher margins.
- Medicure Inc (MCUJF) received fast-track designation for MC-1, which will facilitate the review of its FDA new drug application.
- The company remains debt-free, providing financial stability and flexibility.
- Medicure Inc (MCUJF) is actively pursuing the development of new chemical entities, which could provide significant long-term value.
- Net revenue for Q2 2024 was $5.2 million, down from $6 million in the same quarter last year.
- The company reported a net loss of $1.2 million for the quarter, compared to a net income of $253,000 in the same quarter last year.
- Revenue from Aggrastat decreased significantly due to increased competition from generic alternatives.
- Higher research and development expenses and general and administrative expenses contributed to the negative EBITDA of $514,000.
- Challenges in controlling reimbursements from insurance companies and fluctuations in cost of goods impacted margins.
Welcome to Medicure's earnings conference call for the first quarter ended June 30, 2024. My name is Kelly, and I will be your operator for today's call. At this time, all participants are on the listen-only mode. Before we proceed, I would like to remind everyone that this presentation contains forward-looking statements relating to future results, events and expectations, which are made pursuant to the Safe Harbor provisions of the US Securities Litigation Reform Act of 1995.
Forward-looking statements involve known and unknown risks and uncertainties, which could cause the Company's actual results to differ materially from those in the forward-looking statements. Such risks and uncertainties include, among others, those described in the company's most recent annual information form and Form-20F.
Later, we will conduct a question and answer session. Please note that this conference call is being recorded and today's date is August 15, 2024.
I would now like to turn the conference call over to Dr. Albert Friesen, Chief Executive Officer of Medicure, Incorporated. Please go
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