STRENGTHENS FOCUS ON MARKETING OF
AGGRASTAT® AND
ZYPITAMAGTM
WINNIPEG, MB, Aug. 20, 2020 /CNW/ - Medicure Inc.
("Medicure" or the "Company") (TSXV: MPH) (OTC:
MCUJF), a pharmaceutical company, today announced the termination
of the marketing and distribution agreement with Sensible Medical
Innovations Inc. ("Sensible") for the marketing of the
ReDSTM Pro ("ReDS Pro") device in the United States. In connection with the
termination, Sensible and the Company have entered into a
transition agreement which provides additional compensation to
Medicure for sales to customer leads provided by Medicure.
Medicure continues to hold a 7.71% equity stake, on a fully
diluted basis, in Sensible Medical Innovations Ltd. ("Sensible
Medical"), the parent company of Sensible. Medicure will
continue to support Sensible in its transition to a new marketing
and distribution arrangement in order to secure its investment in
Sensible Medical.
The termination of the marketing and distribution agreement with
Sensible followed an in-depth strategic review of its alignment
with Medicure's other lines of business. "The discontinuation of
marketing and distribution activities related to the ReDS Pro
device in the United States
market will result in Medicure strengthening its focus on its own
products, AGGRASTAT® and
ZYPITAMAGTM, which provide a higher profit margin to
Medicure" commented Dr. Albert D.
Friesen, Medicure's Chief Executive Officer.
About Medicure Inc.
Medicure is a pharmaceutical
company focused on the development and commercialization of
therapies for the U.S. cardiovascular market. The present focus of
the Company is the marketing and distribution of
AGGRASTAT® (tirofiban hydrochloride) injection and
ZYPITAMAGTM (pitavastatin) tablets in the United States, where they are sold through
the Company's U.S. subsidiary, Medicure Pharma Inc. For more
information on Medicure please visit www.medicure.com.
About Sensible
Sensible is a market leader in medical
radar monitoring and imaging technology. ReDS™ was adapted for
medical use from military 'see-through-wall' technology. The
technology is well-positioned to be a difference maker in a wide
range of applications and to become the next-generation lung fluid
monitoring modality.www.sensible-medical.com
About ReDS™ PRO System
The ReDS™ PRO is an
accurate measurement tool to evaluate pulmonary congestion
providing additional information to assist a physician in their
assessment of a patient's condition. Assessment with the aid of
ReDS™ technology has helped physicians at facilities across
the country to better manage their patients' heart failure, with
the goal of avoiding readmissions. For more information please
visit www.medicure.com/reds.
To be added to Medicure's e-mail list, please
visit:
http://medicure.mediaroom.com/alerts
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Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Forward Looking Information: Statements contained in this
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"believes", "may", "plans", "will", "estimates", "continues",
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forward-looking information and forward-looking statements are
hereinafter collectively referred to as "forward-looking
statements"). Forward-looking statements, include estimates,
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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
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, 2019.
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SOURCE Medicure Inc.