Medicure

MPH.V

Drug Manufacturers - Specialty & Generic · Healthcare

Price

C$1.36

+0.08 (+6.25%)

Market Cap

C$14.2M

Exchange

Toronto Stock Exchange Ventures

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Data as of Aug 13, 2026 · filings through Mar 31, 2026

Share count rising — dilution

+1.8% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 10.3M (2021) → 10.4M (2025)

Medicure Inc. is a biopharmaceutical firm focused on developing, researching, and commercializing therapeutic solutions for cardiovascular conditions across Canada and the United States. Its product portfolio includes AGGRASTAT, an injectable glycoprotein GP IIb/IIIa receptor antagonist prescribed for acute coronary syndromes, such as unstable angina and non-Q-wave myocardial infarction. The company also provides ZYPITAMAG, a medication used to manage primary hyperlipidemia and mixed dyslipidemia. Additionally, Medicure offers the ReDS system, a non-invasive medical device designed to measure lung fluid levels, aiding in the management of congestive heart failure. Another key offering is Sodium Nitroprusside injection, utilized for rapidly lowering blood pressure during hypertensive crises in both adult and pediatric patients, inducing controlled hypotension for surgical bleeding reduction, and treating acute congestive heart failure. These products are made available through both retail pharmacy networks and online platforms. Established in 1997, Medicure Inc. is headquartered in Winnipeg, Canada.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+44.9% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+41.5% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$3M/ year

→ Flat (+3% vs prior year)

11.0% of revenue

Below sector average (18%)

Steady R&D investment year-over-year

Cash Runway

~3 months

$2M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Short runway — potential dilution ahead through share issuance

Revenue accelerating

Medicure grew revenue 45% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

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Quality

Gross Margin

44.3%

Healthy — 44.3% gross margin

Operating Margin

-4.6%

Losing money on operations — -4.6%

ROCE

-2.9%

Weak — -2.9% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

+44.3%

Fast-growing sales (+44.3% YoY)

EPS YoY

N/A

Data not available

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Cash Conversion

N/A

Data not available

FCF Margin

-9.7%

Burning cash (-9.7%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

N/A

Data not available

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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