Welcome to our dedicated page for Medicure news (Ticker: MCUJF), a resource for investors and traders seeking the latest updates and insights on Medicure stock.
About Medicure Inc. (MCUJF)
Medicure Inc. is a pharmaceutical company dedicated to the development and commercialization of innovative healthcare products, with a primary focus on the United States market. The company operates through its U.S. subsidiary, Medicure Pharma Inc., and specializes in cardiovascular therapies, offering products such as AGGRASTAT® (tirofiban hydrochloride) injection and ZYPITAMAG® (pitavastatin) tablets. These products cater to the needs of healthcare providers and patients seeking effective solutions for cardiovascular conditions.
Core Business Areas
Medicure's business model integrates pharmaceutical development with direct-to-consumer pharmacy operations. The company's flagship products, AGGRASTAT and ZYPITAMAG, are marketed through traditional healthcare channels and its pharmacy subsidiary, Marley Drug Inc.. Marley Drug, licensed to operate in all 50 U.S. states, Washington D.C., and Puerto Rico, offers an Extended Supply Generic Drug Program and free home delivery services, ensuring broad access to affordable medications. This direct-to-consumer approach enhances patient adherence, reduces healthcare costs, and streamlines distribution.
Pharmacy Operations and Strategic Acquisitions
Medicure's acquisition of Marley Drug in 2020 marked a strategic shift towards integrating pharmaceutical sales with pharmacy operations. Marley Drug not only serves as a distribution channel for ZYPITAMAG but also generates revenue through its e-commerce platform and fulfillment partnerships. The company's recent acquisition of Gateway Medical Pharmacy further expands its footprint in the direct-to-consumer pharmacy market, enabling it to service long-term care facilities and provide non-sterile compounding services. These acquisitions align with Medicure's strategy to enhance its service offerings and reach more patients across the U.S.
Research and Development
In addition to its commercial operations, Medicure invests in the development of new therapies. The company is advancing MC-1, an investigational drug targeting seizures associated with pyridox(am)ine 5'-phosphate oxidase (PNPO) deficiency, a rare and life-threatening condition. MC-1 has received Orphan Drug Designation and Rare Pediatric Disease Designation from the U.S. Food and Drug Administration (FDA), highlighting its potential to address unmet medical needs. These designations not only underscore Medicure's commitment to innovation but also position the company to benefit from regulatory incentives.
Competitive Landscape and Market Position
Medicure operates in a highly competitive pharmaceutical industry, with key competitors including generic drug manufacturers and other cardiovascular-focused companies. The company differentiates itself through its integrated business model, combining pharmaceutical development with direct-to-consumer pharmacy services. This approach allows Medicure to maintain control over its supply chain, improve profit margins, and enhance patient outcomes. Despite challenges such as pricing competition for AGGRASTAT and rising operational costs, Medicure's focus on niche markets and strategic acquisitions strengthens its market position.
Commitment to Healthcare Access
Medicure's mission extends beyond product development to improving healthcare access and affordability. Through Marley Drug and its Extended Supply Generic Drug Program, the company reduces costs for patients and healthcare providers while ensuring consistent medication supply. This commitment to healthcare access, combined with its focus on innovative therapies, positions Medicure as a significant player in the U.S. pharmaceutical landscape.
Medicure Inc. (OTC: MCUJF) announces that its subsidiary, Marley Drug, will be the sole mail-order pharmacy for RxSpark™. This partnership aims to enhance access to discounted medications for Americans, particularly in light of COVID-19's impact on healthcare. Marley Drug offers home delivery of over 100 chronic care medications, with options for 6- and 12-month supplies at competitive prices. The initiative seeks to improve patient adherence and reduce overall healthcare costs. The partnership aligns with Medicure's goal of expanding its pharmaceutical reach in the U.S. market.
Medicure Inc. has launched a national E-Commerce pharmacy platform, Marley Drug, aimed at providing affordable medications to over 100 million uninsured Americans. The platform offers FDA-approved medications for home delivery across all 50 states, enabling users to manage their prescription history easily. Customers can purchase medications in extended supply fills of up to 12 months, with prices starting at $37 for 6 months. During the launch, select medications will be available for just $2 per month with free shipping. Medicure aims to enhance healthcare affordability and shareholder value.
Medicure reported Q3 2021 net revenue of $4.9 million, up from $3.5 million in Q3 2020, driven by sales of AGGRASTAT® and contributions from Marley Drug™. AGGRASTAT® revenue declined to $2.9 million from $3.4 million year-over-year, while ZYPITAMAG® revenues improved to $388,000. The adjusted EBITDA rose to $282,000 from $4,000 in Q3 2020. Despite a net loss of $946,000, a reduction from $1.05 million, unrestricted cash increased to $3.3 million. The company expects future revenue growth from ZYPITAMAG® and Marley Drug™.
Medicure Inc. (OTC: MCUJF) announced plans to launch a national direct-to-consumer E-Commerce pharmacy platform via Marley Drug™ before the end of 2021. This platform aims to offer FDA-approved medications, including ZYPITAMAG, at discounted prices with free delivery across all 50 states. Targeting over 120 million uninsured and underinsured Americans, the initiative seeks to improve medication access and address 'pharmacy deserts.' CEO Albert D. Friesen highlighted this as a significant step for the company that could enhance shareholder value by strengthening existing business lines.
Medicure announced positive results from the SAVI-PCI trial, where short infusion AGGRASTAT was shown to be non-inferior to INTEGRILIN and long-infusion AGGRASTAT regarding combined efficacy and major bleeding. The trial involved 535 patients across 13 sites in the U.S. and demonstrated a significant reduction in major bleeding events with the short infusion method (0% vs. 3.2%, p = 0.0093). This data supports the contemporary use of AGGRASTAT in the U.S. and reflects its potential in mitigating bleeding risks while maintaining ischemic protection.
Medicure Inc. (OTC: MCUJF) announced the grant of stock options to certain officers, allowing the purchase of 90,000 common shares at $1.10 each. The options, which vest immediately, can be exercised over five years and require TSX Venture Exchange approval. Medicure is focused on the U.S. cardiovascular market and markets AGGRASTAT® and ZYPITAMAG®. The company's operations include Marley Drug, a North Carolina pharmacy providing an Extended Supply mail order program across many states.
Medicure Inc. (TSXV: MPH, OTC: MCUJF) announced the appointment of David Gurvey as Chief Financial Officer, effective June 28, 2021. Gurvey, a seasoned finance leader, previously served as CFO at DiaMedica Therapeutics, where he played a crucial role in enhancing company value from $2.4 million to $40 million. The Board expressed confidence in Gurvey's ability to translate strategic vision into operational success, aiming to bolster Medicure's growth in the U.S. cardiovascular market, particularly through its key products AGGRASTAT® and ZYPITAMAG®.
Medicure reported its Q1 2021 results, showing net revenue of $4.9 million, up from $3.0 million in Q1 2020. The sales from AGGRASTAT® were $2.6 million, slightly down from $2.7 million year-over-year. Significant contributions came from Marley Drug, generating $2.1 million in revenue, alongside ZYPITAMAG® with $161,000. Adjusted EBITDA improved to $31,000 compared to a loss of $1.3 million in the previous year. The net loss reduced to $1.0 million or $0.10 per share from $1.5 million or $0.14 per share in Q1 2020.
Medicure Inc. (OTC: MCUJF) will release its financial results for Q1 2021 on May 10, 2021. A conference call is scheduled for May 11 at 7:30 AM CT to discuss the 2020 annual and Q1 results. The company focuses on pharmaceuticals for the U.S. cardiovascular market and markets AGGRASTAT® and ZYPITAMAG® through its subsidiary Medicure Pharma Inc. Additionally, it operates Marley Drug, a pharmacy offering an Extended Supply mail order program, enhancing healthcare access while aiming to lower costs for consumers.
Medicure Inc. (OTC: MCUJF) announced the resignation of Chief Financial Officer James Kinley, effective May 15, 2021, after nearly a decade of service. Kinley is leaving to pursue another opportunity. The company is actively searching for a new CFO and has appointed Dr. Neil Owens, the current COO, as interim CFO. CEO Albert D. Friesen expressed gratitude for Kinley's contributions. Medicure focuses on the development of cardiovascular therapies, particularly AGGRASTAT® and ZYPITAMAG®, and operates Marley Drug, a pharmacy offering extended supply programs.