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Medexus Pharmaceuticals sees fiscal 4Q revenue rocket following successful acquisitions

Proactive Investors Monday, 8 July 2019
Medexus Pharmaceuticals Inc (TSXV:MDP) (OTCQB:PDDPF) posted fiscal fourth-quarter results after the bell Monday, headlined by revenue that more than quintupled year-over-year. The drug-maker saw revenue jump to $12.7 million, up from $2.1 million in the prior-year quarter, and profit climb to $7.5 million from $0.9 million. The primary reason for the dramatic year-over-year increase are the acquisitions of Medexus Inc and Medac Pharma Inc, which each occurred within the 2019 fiscal year. READ: Medexus Pharmaceuticals adds veteran pharma executive to its board In addition, the Montreal-based company got a revenue boost from its drug portfolio. Sales of Metoject, its treatment for various types of arthritis, more than quadrupled year-over-year. Rupall, an allergy medication, saw its sales more than double. “We have made exceptional progress as an organization since the completion of the company’s transformative transactions in the fall of 2018 when we merged the businesses of Pediapharm Inc, Medexus Inc and Medac Pharma Inc,” CEO Ken d’Entremont said. “I am pleased to report we generated strong revenue growth for the fiscal fourth quarter, which was ahead of expectations given the typical seasonality of our business. Contact Andrew Kessel at [email protected] Follow him on Twitter @andrew_kessel
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