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This Cannabinoids-Focused Pharma Co. Sees 50% YoY Surge In Revenue In 2023, Trims Losses

Benzinga · Mar 27 18:32

MEDIF +3.32%

MediPharm Labs Corp.(TSX:LABS) (OTCQB:MEDIF) (FSE: MLZ) announced its financial results on Wednesday for the full year and three months ended Dec. 31, 2023.

Net revenue grew to CA$33 million($24.3 million) in 2023, from CA$22.1 million in 2022, representing roughly a50% year-over-year increase, the company said in a press release.

"Over the years we have invested in our infrastructure as a high quality and high-capacity pharmaceutical grade manufacturer, allowing us to grow sales with new opportunities and markets, without additional investment into capital or resources," CEODavid Pidducksaid. "We are proud of the work completed in 2023 and excited...

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more

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