VANCOUVER, Feb. 2, 2012 /CNW/ - Merus Labs International Inc. ("Merus" or the "Company") [TSX: MSL] [NASDAQ: MSLI] reports its
financial results for the second quarter ended November 30, 2011 prior
to amalgamation with Envoy Capital.
Highlights of the financial results for the quarter are as follows:
Revenue of $2,476,506 in net product sales representing a 20% increase
over the same period in the previous year [$2,061,100 as reported by
the previous owner; IMS Canada]
Achieved Gross profit of $2,190,681, representing 88% gross margin
EBITDA (excluding foreign exchange charges) of $1,706,423
Pre-tax net income of $688,068
"I am very pleased to report our second quarter financial results prior
to the amalgamation of Merus with Envoy Capital. With our expanded
management team and strong balance sheet we have built additional
momentum towards significant growth for 2012," said Ahmad Doroudian,
The company's audited financial statements and management discussion and
analysis (MD&A) can be accessed on Sedar (www.Sedar.com).
About Merus Labs International Inc.
Merus is a specialty pharmaceutical company engaged in the acquisition
and licensing of pharmaceutical products. The Company utilizes its
expertise in the North American pharmaceutical markets and its access
to capital to acquire and license niche branded products in Canada and
United States. Merus further enhances the sale and distribution of
these products by introduction of a focused marketing and promotion
This press release may contain forward-looking statements that involve
risks and uncertainties. These statements relate to future events or
our future financial performance. In some cases, you can identify
forward-looking statements by terminology including "could", "may",
"will", "should", "expect", "plan", "anticipate", "believe",
"estimate", "predict", "potential" and the negative of these terms or
other comparable terminology. While these forward-looking statements,
and any assumptions upon which they are based, are made in good faith
and reflect our current judgment regarding the direction of our
business, actual results will almost always vary, sometimes materially,
from any estimates, predictions, projections, assumptions or other
future performance suggested in this report. Except as required by
applicable law, we do not intend to update any of the forward-looking
statements so as to conform these statements to actual results.
Investors should refer to the risks disclosed in the Company's reports
filed from time to time with securities regulatory authorities.
SOURCE Merus Labs International Inc.
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