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Medicure Inc (TSE:MPH)
:MPH
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Medicure
(MPH)
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Rating:52Neutral
Price Target:
C$1.50
▲(29.31% Upside)
Medicure's overall stock score reflects a mixed financial performance with stable balance sheet but challenges in profitability and cash flow. Positive technical indicators provide some optimism, but the negative valuation metrics highlight significant risks. The absence of earnings call and corporate events data limits further insights.
Medicure (MPH) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$11.38M
Dividend YieldN/A
Average Volume (3M)1.72K
Price to Earnings (P/E)―
Beta (1Y)1.18
Revenue Growth10.84%
EPS Growth48.57%
CountryCA
Employees25
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)-0.07
Shares Outstanding10,436,313
10 Day Avg. Volume717
30 Day Avg. Volume1,717
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)N/A
P/FCF RatioN/A
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusHold
Number of Analyst Covering0
Medicure Business Overview & Revenue Model
Company DescriptionMedicure Inc., a biopharmaceutical company, engages in the research, development, and commercialization of human therapies for the cardiovascular market in Canada and the United States. The company markets and distributes AGGRASTAT injection, a glycoprotein GP IIb/IIIa receptor antagonist for the treatment of acute coronary syndrome, including unstable angina and non-Q-wave myocardial infarction. It also offers ZYPITAMAG to treat patients with primary hyperlipidemia or mixed dyslipidemia. In addition, the company offers ReDS, a non-invasive medical device that offers measurement of lung fluid for the management of congestive heart failure. Further, the company offers Sodium Nitroprusside injection for the reduction of blood pressure for adult and pediatric patients in hypertensive crisis, as well as for producing controlled hypotension to reduce bleeding during surgery, and for the treatment of acute congestive heart failure. It offers products through retail pharmacies, as well as online. The company was incorporated in 1997 and is headquartered in Winnipeg, Canada.
How the Company Makes MoneyMedicure Inc. generates revenue primarily through the sale of its cardiovascular medications and related healthcare products. The company markets its products to healthcare providers, hospitals, and pharmacies, both directly and through distribution partners. Key revenue streams include direct sales of branded pharmaceutical products and licensing agreements for distribution rights. Additionally, Medicure may engage in strategic partnerships and collaborations with other pharmaceutical companies to expand its market reach and product offerings, thereby bolstering its earnings potential.
Medicure Earnings Call Summary
Earnings Call Date:Aug 20, 2025
(Q4-2024)
| % Change Since: |
Next Earnings Date:Nov 19, 2025
Earnings Call Sentiment Neutral
The earnings call presented a mixed performance with growth in certain product lines and strategic acquisitions aimed at expansion. However, these were offset by significant challenges such as decreased AGGRASTAT revenue, increased costs, and a resulting negative EBITDA and net loss. The positive aspects of strategic growth were balanced by financial challenges.Q4-2024 Updates
Positive Updates
Increased ZYPITAMAG Revenue
ZYPITAMAG sales through Marley Drug grew by 23% from $2.6 million in 2023 to $3.2 million in 2024. Revenue through insured channels also grew by 25% from $2.4 million in 2023 to $3 million in 2024.
Marley Drug Revenue Growth
Net revenue for Marley Drug grew by 12.5% from $9.6 million in 2023 to $10.8 million in 2024.
Strategic Acquisitions
Medicure acquired Gateway Medical and signed an agreement to acquire West Olympia Pharmacy, expanding its Retail Pharmacy segment and creating synergies with Marley Drug.
Legal Settlement Income
The company recorded $1.9 million in other income due to a legal settlement with its contract development and manufacturing organization.
Cash Position
As of December 31, 2024, Medicure had cash totaling approximately $7.2 million, an increase from $6.4 million as of December 31, 2023. The company remains debt-free.
Negative Updates
Decreased AGGRASTAT Revenue
Net revenue from AGGRASTAT decreased from $9.7 million in 2023 to $8.1 million in 2024 due to pricing pressures from generic competition.
Increased Costs and Expenses
Higher Marley Drug cost of goods, increased R&D expenses to $3.1 million, and higher general and administrative expenses primarily due to legal fees.
Negative EBITDA
Adjusted EBITDA for 2024 was negative $437,000, compared to an adjusted EBITDA of $1.9 million in 2023.
Net Loss
The company recorded a net loss of approximately $1 million in 2024, compared to a net loss of $922,000 in 2023.
Company Guidance
During the conference call, Medicure provided guidance on its financial performance for the year ended December 31, 2024, highlighting several key metrics. The company reported net revenue of $21.9 million, a slight increase from $21.7 million in the previous year, but experienced a net loss of approximately $1 million or $0.10 per share, compared to a net loss of $922,000 or $0.09 per share in the prior year. AGGRASTAT revenue decreased to $8.1 million from $9.7 million due to pricing pressures from generics, while ZYPITAMAG revenue through traditional insurance increased to $3 million from $2.4 million, attributed to greater utilization through insurance formularies. Marley Drug's net revenue rose to $10.8 million from $9.6 million, driven by changes in product mix and increased ZYPITAMAG sales. Despite these increases, adjusted EBITDA was negative $437,000, down from $1.9 million the previous year, due to higher costs of goods and R&D expenses totaling $3.1 million primarily for the MC-1 PNPO clinical trial. The company also highlighted strategic acquisitions of Gateway Medical and West Olympia Pharmacy, aiming to expand its Retail Pharmacy operating segment and create synergies with Marley Drug. Additionally, Medicure remains focused on developing new products, including a novel drug related to MC-1, with significant market potential.Medicure Financial Statement Overview
Summary
Medicure shows potential in revenue growth and maintaining a strong equity base, but profitability and cash flow consistency are major challenges. The company needs to focus on operational efficiencies to improve margins and stabilize cash flows for better financial health.Income Statement
Medicure has shown some improvement in revenue over the years, but profitability remains a concern with recurring net losses. The gross profit margin is relatively stable, but negative EBIT and net profit margins indicate operational challenges. The revenue growth is slow, and efforts to improve EBITDA have not fully translated into net profitability.45
Neutral
Balance Sheet
The company's balance sheet shows moderate financial stability with a low debt-to-equity ratio, indicating conservative leverage. However, the return on equity is negative, reflecting ongoing losses. The equity ratio suggests that a good portion of the assets is funded by equity, which is a positive sign of financial health.60
Neutral
Cash Flow
Medicure's cash flow from operations is positive, but free cash flow has been inconsistent due to capital expenditures. The operating cash flow to net income ratio is favorable, indicating strong cash generation relative to earnings. However, the free cash flow growth rate is volatile, reflecting fluctuations in investment and capital spending.50
Neutral
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 23.20M | 21.91M | 21.69M | 23.07M | 21.74M | 11.61M |
| Gross Profit | 12.52M | 13.09M | 13.99M | 16.07M | 12.71M | 5.13M |
| EBITDA | 1.45M | 1.54M | 1.27M | 3.44M | 2.39M | -4.04M |
| Net Income | -1.35M | -1.04M | -922.00K | 1.36M | -727.00K | -6.84M |
Balance Sheet | ||||||
| Total Assets | 28.41M | 29.68M | 28.06M | 29.90M | 28.41M | 34.05M |
| Cash, Cash Equivalents and Short-Term Investments | 4.74M | 7.19M | 6.37M | 4.86M | 3.69M | 2.72M |
| Total Debt | 1.09M | 874.00K | 544.00K | 849.00K | 1.17M | 1.45M |
| Total Liabilities | 10.11M | 8.90M | 8.16M | 8.89M | 10.00M | 14.91M |
| Stockholders Equity | 18.31M | 20.78M | 19.90M | 21.00M | 18.41M | 19.15M |
Cash Flow | ||||||
| Free Cash Flow | 918.00K | 638.00K | 1.81M | 1.52M | 3.17M | -2.24M |
| Operating Cash Flow | 1.47M | 1.38M | 2.08M | 1.83M | 3.99M | -2.24M |
| Investing Cash Flow | -2.73M | -739.00K | -270.00K | -310.00K | -2.69M | -7.24M |
| Financing Cash Flow | -406.00K | -370.00K | -297.00K | -355.00K | -316.00K | -766.00K |
Medicure Technical Analysis
Positive
1.16
Price Trends
1.10
Positive
1.14
Positive
0.99
Positive
Market Momentum
0.01
Negative
61.92
Neutral
68.52
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:MPH, the sentiment is Positive. The current price of 1.16 is above the 20-day moving average (MA) of 1.08, above the 50-day MA of 1.10, and above the 200-day MA of 0.99, indicating a bullish trend. The MACD of 0.01 indicates Negative momentum. The RSI at 61.92 is Neutral, neither overbought nor oversold. The STOCH value of 68.52 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:MPH.
Medicure Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| ― | ― | ― | ― | ― | 5.24% | -7.99% | |
| ― | C$87.10M | 65.69 | 1.88% | ― | 0.03% | -17.30% | |
| ― | C$8.86M | -6.80 | -8.12% | ― | 20.33% | 53.93% | |
| ― | C$11.38M | ― | -7.15% | ― | 10.84% | 48.57% | |
| ― | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
| ― | C$6.28M | -1.56 | -583.18% | ― | ― | -84.51% | |
| ― | C$5.29M | ― | -132.79% | ― | -46.59% | 9.48% |
* Healthcare Sector Average
TSE:MPH
Medicure
1.16
0.20
20.83%
TSE:TH
Theratechnologies
4.47
2.78
164.50%
TSE:CTX
Crescita Therpeutc
0.46
-0.14
-23.33%
TSE:MVMD
Mountain Valley MD
0.02
>-0.01
-33.33%
TSE:MDP
Medexus Pharmaceuticals Inc
2.80
0.59
26.70%
TSE:RVV
Revive Therapeutics
0.02
0.01
100.00%
Medicure Corporate Events
Medicure Inc’s Pioneering Study on PNPO Deficiency Treatment: A Market Game-Changer?
Oct 27, 2025
Study Overview: Medicure Inc (TSE:MPH) is conducting a clinical study titled ‘Study of Pyridoxal 5′-Phosphate for the Treatment of Patients With PNPO Deficiency.’ The study aims to evaluate the effectiveness of oral Pyridoxal 5′-Phosphate (P5P) in treating patients with Pyridox(am)ine 5′-Phosphate Oxidase (PNPO) deficiency, a condition with unmet pharmaceutical needs. This study is significant as it addresses the lack of commercially available pharmaceutical-grade P5P.
Business Operations and StrategyFinancial Disclosures
Medicure Inc. Reports Increased Revenue and Improved EBITDA for Q2 2025
Positive
Aug 20, 2025
Medicure Inc. reported financial results for the quarter ended June 30, 2025, with total net revenue increasing to $6.7 million from $5.2 million in the previous year. The company saw a rise in revenue from its Marley Drug business and increased sales of ZYPITAMAG® through both insured and pharmacy channels. Despite a net loss of $786,000, the company’s adjusted EBITDA improved significantly, reflecting operational efficiencies and strategic acquisitions of Gateway and West Olympia Pharmacies. These results underscore Medicure’s commitment to expanding its market presence and enhancing shareholder value.
The most recent analyst rating on (TSE:MPH) stock is a Hold with a C$1.00 price target. To see the full list of analyst forecasts on Medicure stock, see the TSE:MPH Stock Forecast page.
Financial Disclosures
Medicure Inc. to Announce Q2 2025 Financial Results
Neutral
Aug 18, 2025
Medicure Inc. announced it will present its financial results for the quarter ended June 30, 2025, via a conference call on August 21, 2025. This announcement is significant as it provides stakeholders with insights into the company’s financial health and operational performance, potentially impacting its market positioning and investor confidence.
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.