MediPharm Labs Reports Strong Financial Growth

Medipharm Labs (Otc) (TSE:LABS) has released an update.

MediPharm Labs Corp. has reported a significant improvement in its 2023 financial performance, with a 50% increase in annual revenue to $33M and a 50% betterment in Adjusted EBITDA, despite it remaining negative at $10M. The company has made strides in the international medical cannabis market, particularly in Brazil and the EU, and anticipates increased sales from new products. Highlighting cost reductions and margin expansions, MediPharm is on a strategic path towards profitability, as evidenced by their positive gross margin shift and reduced operational expenses.

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