05:11 PM EDT, 04/08/2024 (MT Newswires) -- Medicure ( MCUJF ) on Monday said it swing to an annual loss on lower sales.

The pharmaceutical company said it lost C$0.92 million, or C$0.09 per share, last year, compared with a profit of C$1.4 million, or C$0.13, in 2022.

Revenues dropped 6.1% to C$21.7 million from C$23.1 million.

The company said the "main factors contributing to the net loss recorded for the year ended December 31, 2023 were lower net revenue and higher selling expenses, partially offset by lower R&D expenses".

Medicure ( MCUJF ) shares last traded April 3, closing at C$1.06 on the TSX Venture Exchange.