MEDICURE ANNOUNCES RESIGNATION OF CHIEF FINANCIAL OFFICER AND SUCCESSION PLAN
Medicure Inc. has announced the resignation of Chief Financial Officer David Gurvey, effective March 25, 2022. The company expressed gratitude for Gurvey's contributions and initiated a search for a new CFO. Dr. Neil Owens, the current Chief Operating Officer, will serve as the interim CFO. Medicure focuses on developing innovative pharmaceuticals for the U.S. market, with notable products such as AGGRASTAT and ZYPITAMAG. The company is also expanding its e-commerce capabilities for direct patient ordering.
- Dr. Neil Owens will provide interim leadership as CFO, potentially ensuring continuity in the financial strategy.
- Medicure is searching for a new CFO with capabilities to accelerate growth, indicating a proactive approach to leadership.
- David Gurvey's resignation may create short-term disruption in financial oversight.
- The need for a new CFO could indicate previous leadership challenges in finance.
WINNIPEG, MB, March 23, 2022 /PRNewswire/ - 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 that Chief Financial Officer David Gurvey (CPA, CMA, B.Sc.) is resigning, effective March 25, 2022.
Albert D. Friesen, PhD, CEO and Chair of the Board of Directors, stated, "On behalf of everyone at Medicure and our Board of Directors, we thank David for his contributions to our Company and we wish him well in his future endeavors."
The Company has initiated a search for a new Chief Financial Officer with the capabilities and qualifications to accelerate Medicure's growth and business strategy. Dr. Neil Owens, Chief Operating Officer of the Company, will assume the role of interim Chief Financial Officer upon Mr. Gurvey's resignation.
About Medicure Inc.
Medicure is a pharmaceutical company focused on the development and commercialization of innovative and affordable therapeutics for the U.S. market. Medicure's sales force markets to physicians and other healthcare professionals and now with E-Commerce integration, will be offering patients and providers direct online ordering and home delivery. Our vision is to become a leading pharmaceutical company within the U.S, offering a growing portfolio of products that improve patients' lives. 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 located in North Carolina that offers an Extended Supply drug program serving all 50 states, Washington D.C. and most territories, including Puerto Rico. Marley Drug is committed to improving the health status of its patients and the communities they serve while reducing overall health care costs for employers and other health care consumers. For more information visit www.marleydrug.com. To learn more about The Extended Supply Generic Drug Program call 800.286.6781 or e-mail info@marleydrug.com. For more information on Medicure please visit https://www.medicure.com/. For additional information about AGGRASTAT®, refer to the full Prescribing Information. For additional information about ZYPITAMAG®, 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 PRV, 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 Form 20F for the year ended December 31, 2020.
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SOURCE Medicure Inc.
FAQ
What prompted David Gurvey's resignation from Medicure?
Who will be the interim CFO of Medicure after David Gurvey's departure?
What is the significance of Medicure searching for a new CFO?
How does Medicure plan to maintain financial operations after the CFO's resignation?
