MCUJF - Earnings call transcript Q2 2021

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Operator

00:05 Good morning and welcome to Medicure’s Earnings conference call for the quarter ended June thirtieth, twenty twenty one. My name is Chris and I'll be your operator for today's call. At this time, all participants are in a 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 U.S. Securities Litigation Reform Act of nineteen ninety five. statements. involve the unknown differ company's those forward statements which and materially looking any cause could actual looking Forward known risks and uncertainties, from XX:XX results to those Such described annual risks form twenty Form and include and among Information in company's most uncertainties the recent F. others, we session. and will question a Later, conduct answer thirtieth, conference one. this that recorded note twenty is being and twenty today's Please call date is August over now like to to call Dr. would conference I X:XX the turn Albert Executive Friesen, Officer Inc. Chief Medicure of Dr. ahead go Please Friesen.

Albert Friesen

to everybody taken XX:XX the Chris, the Thank good morning and you've you, appreciate We time call. interest to on your and call. in the participate

experienced We been of EBITDA one, for twenty – to Joining over from with but trend a quarter nineteen positive positive COO. quarter change me two Chief This of twenty the twenty twenty David business last and in losses a that the twenty. of and twenty reported the provided XX:XX twenty the twenty had financial second Officer, early modest of sales including businesses, and be has half income despite positive Dr. have of we'll pleased the Gurvey; the discussing and The twenty one. Marley stabilized net acquisition today twenty first the performance challenges is of morning AGGRASTAT we're of the with December statements pleased the President XX:XX second COVID stage Neil are the our Owens, and and Drug. Financial a lot we few revenue challenges quarters. of Medicure, for

further reach now order our reasons pharmacy Drug, mail was pharmacy to exploring build for acquired business. the and sales Marley ZYPITAMAG, the of on we're we ways to One expand as

million we of of twenty more the substantially the of the Marley second of our to Drug, marketing one as business quarter the five XX:XX well help patients dollars marketing business revenue healthcare direct which with the Our few nine business and of quarters is expanded and X:XX are on-boarding quarters Officer, I'll experience. X:XX and has now transitioned the thousand. away the before, three expenses and significantly device, ReDS reduced main The pleased leveraging and associated a Gurvey. ZYPITAMAG and continue slightly The with AGGRASTAT, will with retaining XX:XX sales eight was revenue pharmacy. the added a AGGRASTAT, the focus providers. mainly for growth medical. coming and quarters, twenty in eight and and to and is ongoing at revenue to mentioned million as Drug focus both Marley was and has our previous and is Medicure of marketing growing marketing QX seven from over provide to was to at And from a present Drug profits one. is of ZYPITAMAG Financial the Marley bit and sensible point products sales Chief as David up twenty point investments for which from the team, four call at quarters AGGRASTAT the Drug well up of losses sales Marley similar dollars two As and Medicure one years. due of great dollars twenty operating further with programs value million revenue ZYPITAMAG hundred from talent, turn energy, marketing of

David Gurvey

medication thirty over sedar.com. Marley to revenue million the and a X:XX Drug. on in at Canadian quarter. lower eight ways from dollars at and of company of and As and the thirty obtained Research quarter administrative of ZYPITAMAG totaled prior quarter was sixty at result by seven and some three five working the increase thousand and one twenty to year were thousand five dollars comps five have be quarter quarter point the noted the were can the paid twenty. ended of analysis thousand the compared previous thousand as company exposed able quarter in a constant Adjusted increase start. compared of a fifty access twenty twenty consumer. quarter one for this the revenues and in one Canadian along increase the dollars quarter. EBITDA point for the twenty quarter, aggressive thirty hundred costing eight to Marley respectively. of an of and As thousand Albert our everyone. and revenues share statements for primarily page X:XX December previous quarter at dollars the the the and thousand sixty prior fees is gained sell two compared XX:XX operation different thousand of from period realized complete is dollars was of the which previous revenues were hundred dollars thousand fifty all and million nine in of twenty for comparable development efficiencies percent. of strength. and dollars were dollars twenty. with dollars dollars a thousand one to note the quarter and EBITDA June quarter one negatively resulted is ZYPITAMAG company of copy and compared ended quick expenses was expenses was thirty, approximately second quarter in of particular hundred nine twenty and per thousand point totaling of this percentage a quarter Drug of result and the in XX:XX share which second two dollars during twenty. twenty million statements one for the and second one, seventy six hundred X:XX for second the you, ended to two been hundred hundred For through one Marley hundred looks twenty otherwise the one and the to than for unless X:XX of years December in primarily The this The reduced twenty two to and six acquisition. twenty, AGGRASTAT quarter first thousand the for to quarter expenses financial expenses dollars website five twenty and million to seven point June our dollar between dollars quarter in million the the moderately second quarter, potential XX:XX second General nineteen one, The an hundred one twenty twenty thirty, million revenues of the second comparable sold hundred and seventeen the quarter and flat from and of twenty eighty four compared increased loss the This a marketing from in they thousand compared the research point to up XX:XX agencies. goods prior completed statements total increase you more the nine to development any million thousand being quarter, the period efficiencies copy reminder, each and [indiscernible] Drug were to two for selling had and items four expenses in million general forty to June with for twenty just result six easier and hundred dollars net of acquisition three point The a the couple consistently twenty discussion dollars dollars point from A adjusted seven the gain twenty. Cost administrative two from period payments a the on comparable hundred of quarter which XX:XX Selling the I increase two and from higher at twenty income government twenty two eight zero Marley thirty, the seventy point of second one, good second company twenty in decrease sixty equated remained hundred from in twenty. dollars. company twenty five thousand approximately thousand second Drug, twenty. a levels giving six twenty currencies to as are one of second fluctuating of twenty comparable seven resulted All financial product dollar quarter financial the two in company investor twenty of recorded three can morning, from very zero dollars obtain twenty zero were and as hard and The revenues presenter twenty. in where figures management Thank X:XX twenty five during by slightly affected and to the one point one, possible consistent six substantially hundred cash quarter and prior December The refunds two its quarter and seven the hundred in before

finalizing position, are over a Neil to there thirty, replenish that, twenty an turn financial capital you any with company to opportunity two questions would loan acquisition. million regarding to established the statement regarding in three for X:XX Officer, have Dr. that whole. some end Marley June the ask Owens, to The banks like and the additional however, working a financial to of twenty December with XX:XX twenty results remind compared point call process and not does company liquidity one, had to I the twenty Drug President the today's commentary debt thirty three be the As due the at will the working to of on I company recorded And as the of you we of one, our the our Chief commercial Operating want capital for the operations. call of net cash at million. net of

Neil Owens

AGGRASTAT. majority the in to of from morning eptifibatide. market competition twelve XX:XX was notable price reduced inhibitor vitro share U.S. and XX:XX in on hundred preferred Thank price David of and the generic you, selling more hospitals. quarter, good This no maintain AGGRASTAT pressure patient glycoprotein the everyone. there the net pricing than past remains continues In the

in team six increase to is percent to one. pleased twenty report QX revenue compared twenty Our net a

continue work a and is leaders to We XX:XX to key market share. maintain effectively ZYPITAMAG, market cholesterol. used with opinion Turning AGGRASTAT branded and stat which to to control

QX ZYPITAMAG Our forty compared benefits to have marketing also as net from prescribers pleased to of one. growth to through QX revenue our the share excellent It of which Drug. known announced of XX:XX team very twenty, acquisition by comes located thirty as consumers result of percent Marley facilitated and as Medicure Marley in the twenty well prescription in ZYPITAMAG. North of Carolina This customer been customer is national prices. more sales increase for promotion In base a twenty report its team has medications. is twenty a XX:XX nationwide Drug, sales pharmacy a of is a Sales to home competitive service, Drug built delivery and thousand. Marley than distribution with

through appealing channel. prior in and our use of appreciate been marketing remained sales truly and which without XX:XX Marley therapy access expanded insurance filling Drug One very products branded the are providers an the prescriptions an sales a Through has through through addition innovative of with XX:XX products impose for ZYPITAMAG with existing profits step sell and authorizations. to limitations companies, through approach consistent extremely Drug Sales of Drug simplicity Marley it It marketing of on hurt the reaction aspects Medicure base, healthcare can QX and expected is also have grow. QX that the provides is wholesalers uncertainty to and through who positive. Marley

online expanding revenue including and of and multiple membership exploring presence Drug partnerships We plans. Marley our are channels,

products be those PNPO We for Deficiency, Drug. IND for market The study for defined can especially our therapy a branded ultimately which continues generated continue that to sales and activities, would Marley lead three ZYPITAMAG, an from review hospital product drug Recently, AGGRASTAT, helps rare revenue priority to those to and voucher, application of potential pivotal subsequent Marley A seizures Medicure’s announced or Medicure’s any to with to review cardiovascular high untreated. align abbreviated research and support with for approved consumer of the product can in obtain see and phase drug sold ANDAs Medicure applications development evaluate Drug. well Medicure’s MCX, through Medicure and market, failed a a FDA contracts first share is is which filing products if and leading including disease, portfolio, new In to with through U.S. XX:XX summary, NDA. focus XX:XX and successful our be marketing priority to patients the use and redeemed that add a XX:XX which XX:XX could success to pediatric new application.

We final are we long our in ever are to the team Dr. I'd for this Our and increase that, investors pleased turn to are like driven see XX:XX back to revenue Friesen know increase and Medicure to call revenue growing net wants to than making With motivated to that the more quarter dedicated a and term comments. success. sales.

Albert Friesen

further Drug. products development leverage to profitability. to asset want for progressing Further and our to that I'm been adapting term continue with will new the MCX twelve shareholders. you employees of Thank a Drug that to thankful goal the for to in the you, of as profitability focus at treatment the And business which on Chris, for appreciation XX:XX and AGGRASTAT Thank Thank support such staff business learning further our asset carefully continued sales management the to the value stable our to I'll the past how markets, patients continued Marley and future integration our for we've blessed answers. Marley our you. pipeline and now includes shareholders legacy base, for XX:XX grow build growing AGGRASTAT turn interest well. revenue outstanding been XX:XX and you, development to products considerable to sincere have a maintained. PNPO this and cardiovascular express of for continue diversify of looking growth. There of We're our months, outlook Neil. I the of with. investing long my generating and is of always, we team and with strength the continued questions it in Board, is moderator as back My so and was

Operator

XX:XX Thank SER from go Sam, you. comes ahead. please [Operator Instructions] question Rebotsky, Management. Your Sam first Asset

Sam Rebotsky

sales it Good Drug the morning, and is me, the and Owen. Marley Yes. is Gurvey, Tell that rationale the that lower, in current Dr. Albert XX:XX there was that for Mr. a fact quarter?

Albert Friesen

just a often be the on substantial efforts. campaign, of XX:XX question. Marley quarter sales Drug was very prior end Hello. first specific you for mail Thank marketing much the dependent significant can which order And discounting to the promotion. it involved as a

do appear especially sales fluctuate the they those, from addition ZYPITAMAG, but an the line trend So of the with showing Drug. increasing, trend clearly is be increasing with line Marley which to of at availability

Sam Rebotsky

XX:XX Okay.

on D spent and that Now the what did money this R quarter, to? apply during

Neil Owens

MCX be the This majority IND was XX:XX to I is add would our Neil. that study of contributed and for going PNPO towards deficiency. of

Sam Rebotsky

what tell to are IR for besides we firm, to us? Okay. we know do us Medicure I plans an story calls? hired our them conference do these What XX:XX on expect

Albert Friesen

growth base got with we investor up follow-up options. are going following to and with IR We that last other programs, we for And then to we've the we further IR XX:XX we'll we're leveraging now, base program. that at got interest but explore the with continue the looking just right expanded just now, now, that with that database expanded and explore

Sam Rebotsky

Good much. very right, Albert. you luck. XX:XX Thank All

Albert Friesen

XX:XX Thanks Sam.

Operator

proceed. no XX:XX There Thank this time. are you. [Operator questions Please Instructions] at

Albert Friesen

for we XX:XX to Have next all day. the great Thank interest you Appreciate a and call. listening. forward our look that were

Operator

today. We please conference you participating your XX:XX Ladies for concludes and Thank your this ask thank lines. disconnect and call you. gentlemen, you for that

Medicure (MCUJF) 30 Aug 212021 Q2 Earnings call transcript