Earnings release
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1 2-1250 Waverley Street Winnipeg, Manitoba, Canada R3T 6C6 Phone: 204-487-7412 Fax: 204-488-9823 MEDICURE REPORTS FINANCIAL RESULTS FOR QUARTER ENDED JUNE 30, 2026 AND SCHEDULES AUGUST 17, 2026 CONFERENCE CALL WINNIPEG, CANADA – (August 14 , 20 26) 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 its results from operations for the quarter ended June 30, 2026 and will have a conference call to present the Financial Results on August 17, 2026 at 8:30 am Eastern Time. Quarter Ended June 30, 2026 Highlights: • Recorded total net revenue of $7.4 million during the period ended June 30, 2026 compared to $6.7 million for the period ended June 30, 2025 and; • Recorded total net revenue from the sale of ZYPITAMAG® of $2.1 million ($850,000 through the traditional insured channels, and $1. 2 million through Marley Drug) during the period ended June 30 , 2026 compared to $1 .7 million ($ 751,000 through the traditional insured channels, and $908,000 through Marley Drug) for the period ended June 30, 2025 and; • Recorded total net revenue from the sal e of AGGRASTAT® of $661,000 during the period ended June 30, 2026 compared to $1.7 million during the period ended June 30, 2025 and; • The Pharmacy Business Segment, which includes Marley Drug, and the Company’s two 2025 acquired pharmacies, Gateway Medical Pharmacy and West Olympia Pharmacy , recorded total net revenue of $5.9 million ($1.2 million from sales of ZYPITAMAG®, and $4.7 million from other pharmacy revenue) during the period ended June 30 , 202 6 compared to net revenue of $4.2 million ($908,000 from sales of ZYPITAMAG® , and $3.3 million from other pharmacy revenue) during the period ended June 30, 2025 and; • Medicure invested $608,000 in research and development during the period ended June 30, 2026, underscoring our commitment to advancing innovative therapies, such as the Phase 3 trial of Medicure’s investigational product MC -1 for the treatment of PNPO deficiency and delivering long-term value to patients and shareholders, and; • Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA 1) for the period ended June 30, 2026 was $172,000 compared to negative adjusted EBITDA of $28,000 for the period ended June 30, 2025 and;
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2 • Net loss for the period ended June 30, 2026 was $1.4 million or $0.14 per share compared to a net loss of $786,000 or $0.08 per share for the period ended June 30, 2025; the net loss is due in large part to the Company recording a liability of $864,000 pertaining to Centers for Medicare and Medicaid Services (“CMS”), in addition non-cash expenses including $669,000 of amortization on the assets relating to the purchase of ZYPITAMAG® and the Pharmacy Business Segment. Financial Results Marley Drug recorded net revenue of $ 3.4 million during the period ended June 30 , 202 6 compared to net revenue of $ 3.1 million during the period ended June 30, 2025.The pharmacy business continues to focus on diversifying its revenue by securing exclusive product offerings and partnerships, which helped contribute to the increase in revenue during the current period. Going forward, the focus of Marley Drug is to continue growing its sales of ZYPITAMAG ® and increasing its exclusive product offerings and business partnerships. On June 16, 2025, the Company acquired West Olympia Pharmacy, an independent retail pharmacy with a substantial customer base, located in Olympia Washington. During the period ended June 30, 2026, West Olympia Pharmacy contributed net revenue of $ 1.8 million. Given West Olympia Pharmacy was acquired on June 15 , 2025, the Company record ed net revenue from the pharmacy of $328,000 for the period from June 16, 2025 to June 30, 2025. Additionally, Gateway Pharmacy recorded net revenue of $709,000 during the period ended June 30, 2026, in comparison to net revenue of $764,000 during the period ended June 30, 2025. ZYPITAMAG through insured channels contributed $850,000 of revenue for the period ended June 30 , 202 6 compared to $ 751,000 for the period ended June 30 , 20 25. The increase in ZYPITAMAG® revenue during the period ended June 30 , 202 6, can be attributed to higher utilization of the product through insurance formularies. This amount does not include sales of ZYPITAMAG® through the Pharmacy Business Segment. Net AGGRASTAT® product sales for the three month period ended June 30, 2026, were $661,000 compared to $1.7 million during the period ended June 30, 2025. The decrease in AGGRASTAT® revenues compared to the same period in the prior year is the result of a decrease in the volume of AGGRASTAT® sold and pricing competition from generic tirofiban. Research and development expenditures for the period ended June 30, 2026 totaled $608,000 compared to $ 741,000 for the period ended June 30 , 202 5. Research and development expenditures include costs associated with the Company’s on -going clinical development and pre-clinical programs including salaries and monitoring costs, as well as research and development costs associated with the development projects being undertaken to develop additional products. Adjusted EBITDA for the three months ended Juen 30, 2026 was $172,000 compared to adjusted EBITDA of negative $28,000 for the period ended June 30, 2025. The main factors contributing to an increase in adjusted EBITDA during the current period are an increase in revenue through the Pharmacy Business Segment as a result of the acquisitions of West Olympia Pharmacy, which was owned and operated for the entire second quarter of 2026 and an increase in ZYPITAMAG®
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3 revenue through the traditional insured channel and through Marley Drug. Offsetting these improvements is a decrease AGGRASTAT ® revenue as a result of competition from generic tirofiban hydrochloride and higher cost of goods sold through the Pharmacy Business Segment. Net loss for the period ended June 30, 2026 was $1.4 million or $0.14 per share compared to a net loss of $786,000 or $0.08 per share for the period ended June 30, 2025. The main factors contributing to the net loss recorded for the period ended June 30, 2026 were an increase in selling expenses as a result of the recording of a liability of $864,000 pertaining to CMS, decreased AGGRASTAT® revenue and an increase in cost of goods sold offset by an increase in Pharmacy Business Segment revenue, in addition to an increase in ZYPITAMAG® revenue through both the traditional insured channel and through Marley Drug. At June 30, 2026, the Company had unrestricted cash totaling $1.8 million, a decrease from the $3.8 million of unrestricted cash held as of December 31, 2025. The decrease in cash during the current period is primarily due to changes in working capital adjustments for decrease in accounts payable and increases in inventory balances. All amounts referenced herein are in Canadian dollars unless otherwise noted. The full financial statements are available at www.sedarplus.ca and on the Company’s website at www.medicure.com. Notes (1) The Company defines EBITDA as "earnings before interest, taxes, depreciation, amortization and other income or expense" and Adjusted EBITDA as “EBITDA adjusted for non-cash and non-recurring items”. The terms "EBITDA" and “Adjusted EBITDA”, as it relates t o the three month period ended June 30, 2026 and 2025 results prepared using IFRS, do not have any standardized meaning according to IFRS. It is therefore unlikely to be comparable to similar measures presented by other companies. Conference Call Info: Topic: Medicure’s Financial Results for the Quarter Ended June 30, 2026 Call date: Monday, August 17, 2026 Time: 7:30 AM Central Time (8:30 AM Eastern Time) Toll Free: 1 (888) 506-0062 International: 1 (973) 528-0011 Participant Access Code: 882786 Webcast: This conference call will be webcast live over the internet at the following link: https://www.webcaster5.com/Webcast/Page/2965/54425 About Medicure Inc.
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4 Medicure is a company focused on the development and commercialization of pharmaceuticals and healthcare products for patients and prescribers in the United States market . 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 subsidiary servicing all 50 states, Washington D.C. and Puerto Rico. Marley Drug® is committed to improving access to medications for all Americans together with exceptional customer service and free home delivery. Medicure also operates Gateway Medical Pharmacy, located in Portland, Oregon in a medical office building near major transportation lines and multiple healthcare clinics and centers. In addition to regular customers, the pharmacy services multiple long -term care f acilities and provides non -sterile compounding services. Medicure also operates West Olympia Pharmacy, located in Olympia, Washington in a medical office complex near multiple clinics. For more information visit www.marleydrug.com. For more information about Medicure please visit www.medicure.com. For additional information about AGGRASTAT®, please visit www.aggrastat.com or refer to the full Prescribing Information. For additional information about ZYPITAMAG ®, please visit www.zypitamag.com or 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 collectiv ely 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 for ward-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 priority review voucher from the United State Food and Drug Administration, 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 cha nge 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 current Form 20F.
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5 AGGRASTAT® (tirofiban hydrochloride) injection, ZYPITAMAG® (pitavastatin) tablets, and Marley Drug® are registered trademarks. For more information, please contact: Dr. Albert D. Friesen Chief Executive Officer Tel. 888-435-2220 Fax 204-488-9823 E-mail: info@medicure.com www.medicure.com
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6 Consolidated Statements of Financial Position (expressed in thousands of Canadian dollars, except per share amounts) Unaudited June 30, 2026 December 31, 2025 Assets Current assets: Cash and cash equivalents $ 1,832 $ 3,835 Accounts receivable 4,731 4,817 Inventories 3,510 2,942 Prepaid expenses 345 293 Total current assets 10,418 11,887 Non-current assets: Property and equipment 736 945 Intangible assets 6,911 7,748 Goodwill 4,417 4,260 Other assets 112 109 Total non-current assets 12,176 13,062 Total assets $ 22,594 $ 24,949 Liabilities and Equity Current liabilities: Accounts payable and accrued liabilities $ 10,321 $ 10,587 Income taxes payable 6 90 Current portion of lease obligations 427 464 Acquisition payable - 388 Holdback payable - 84 Total current liabilities 10,754 11,613 Non-current liabilities Lease obligations 269 427 Total non-current liabilities 269 427 Total liabilities 11,023 12,040 Equity: Share capital 81,014 81,014 Contributed surplus 11,050 11,055 Accumulated other comprehensive loss (4,671) (5,172) Deficit (75,822) (73,988) Total equity 11,571 12,909 Total liabilities and equity $ 22,594 $ 24,949
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7 Condensed Consolidated Interim Statements of Net (Loss) Income and Comprehensive Loss (expressed in thousands of Canadian dollars, except per share amounts) (unaudited) Three months ended June 30, 2026 Three months ended June 30, 2025 Six months ended June 30, 2026 Six months ended June 30, 2025 Revenue, net $ 7,427 $ 6,669 $ 15,374 $ 12,153 Cost of goods sold 4,229 3,234 8,655 5,875 Gross profit 3,198 3,435 6,719 6,278 Expenses Selling 2,750 2,133 4,711 3,962 General and administrative 1,193 1,260 2,265 2,359 Research and development 608 741 1,463 1,311 4,551 4,134 8,439 7,632 Finance expense (income): Finance expense (income), net 13 (20) 29 (54) Foreign exchange loss (gain), net 13 49 27 84 26 (29) 56 (30) Net loss before income taxes $ (1,379) $ (728) $ (1,776) $ (1,384) Income tax expense Current 49 58 58 96 Net loss $ (1,428) $ (786) $ (1,834) $ (1,480) Other comprehensive income (loss): Item that may be reclassified to profit or loss Exchange differences on translation of foreign subsidiaries 340 (1,032) 501 (1,057) Other comprehensive income (loss), net of tax 340 (1,032) 501 (1,057) Comprehensive loss $ (1,088) $ (1,818) $ (1,333) $ (2,537) Loss per share Basic $ (0.14) $ (0.08) $ (0.18) $ (0.14) Diluted $ (0.14) $ (0.08) $ (0.18) $ (0.14)
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8 Condensed Consolidated Interim Statements of Cash Flows (expressed in thousands of Canadian dollars, except per share amounts) (unaudited) For the six months ended June 30 2026 2025 Cash (used in) provided by: Operating activities: Net loss for the period $ (1,834) $ (1,480) Adjustments for: Current income tax expense 58 - Amortization of property, plant and equipment 226 235 Amortization of intangible assets 1,087 1,054 Share-based compensation (5) 66 Finance expense, net 29 (54) Unrealized foreign exchange loss 27 84 Change in the following: Accounts receivable 86 213 Inventories (568) (713) Prepaid expenses (52) (128) Accounts payable and accrued liabilities (411) 616 Interest received, net 7 89 Income taxes paid (89) (151) Cash flows used in operating activities (1,439) (73) Investing activities: Acquisition of Gateway Pharmacy (388) (542) Acquisition of West Olympia Pharmacy - (1,635) Cash flows used in investing activities (388) (2,177) Financing activities: Repayment of lease liability (216) (202) Cash flows used in financing activities (216) (202) Foreign exchange gain on cash held in foreign currency 40 - Increase in cash and cash equivalents (2,003) (2,452) Cash and cash equivalents, beginning of period 3,835 7,191 Cash and cash equivalents, end of period $ 1,832 $ 4,739