Pharmaceutical company Medicure Inc (TSXV:MPH) (OTC:MCUJF) stated on Monday that it recorded a net income of USD3.9m (USD0.25 per share) for the year ended 31 December 2018.

This marks a decline in earnings when compared with net income of USD43.4m (USD2.78 per share) for the year ended 31 December 2017, which includes income from continuing operations and income from discontinued operations.

Net revenues of USD29.1m were generated for the year ended 31 December 2018, up over USD27.1m for the year ended 31 December 2017.

Adjusted EBITDA of USD0.2m was recorded for the year ended 31 December 2018,down from Adjusted EBITDA of USD4.8m for the year ended 31 December 2017, due to the higher selling, general and administration expenses caused by the incurrence of additional costs relating to the commercial organisation due to the launch of ZYPITAMAG and higher research and development expenses related to the company's product development pipeline.