LSL PHARMA GROUP REPORTS RECORD REVENUES AND FIRST QUARTER 2026 RESULTS

Key Takeaways:

• LSL Pharma reached a record CA$12.3M in Q1-26 revenue, an 86% increase year over year
• The Steri-Med facility resumed full production in April after a three-month pause
• Eye-care revenues climbed 71%, boosted by strong market share gains in Canada
• The company secured US-FDA certification to manufacture ophthalmic ointments in the US
• Recent acquisitions Juno OTC and Du-Var now form LSL Pharma’s third business segment

Overview of a Record Quarter

LSL Pharma Group kicked off 2026 with an undeniable milestone: record-breaking consolidated revenues of CA$12.3 million for the first quarter, representing an 86% jump over the same period last year. This performance was largely fueled by the full-quarter contributions of newly acquired Juno OTC and Du-Var, which the company now recognizes as a third business segment.

Financial Performance

The company’s Contract Manufacturing Organization (CMO) revenues rose to CA$6.2 million, a modest but encouraging 7% increase from CA$5.7 million in the previous year. Meanwhile, the eye-care segment saw remarkable growth, climbing to CA$1.5 million—a 71% boost year over year. Additionally, LSL Pharma’s private-label revenues hit CA$4.6 million, up from zero in the same quarter of 2025. Despite these gains, adjusted EBITDA settled at CA$0.5 million, slightly below Q1-25 levels, and the company ended the quarter with a net loss of CA$2.8 million.

Production Pause and Resumption

One major point of focus was the Steri-Med Pharma facility. Although its production was temporarily halted for three months, operations resumed in April 2026 following Health Canada’s approval of a remediation plan. Company leadership acknowledges that the interruption had a short-term impact on profitability but anticipates stronger margins in the quarters ahead as Steri-Med ramps back to full capacity.

Eye-Care Expansion and US-FDA Certification

Building on active momentum in the eye-care space, LSL Pharma secured its first shipments of new eye-drop products ahead of a planned Q2-26 launch. In another step forward, Steri-Med earned certification from the US-FDA to manufacture ophthalmic ointments for the American market. These developments are expected to open additional avenues for revenue growth and expand the company’s presence in the rapidly evolving health care sector.

Leadership Insights

“Our acquisitions of Juno OTC and Du-Var have accelerated our diversification strategy,” said President and CEO François Roberge, stressing that these new business segments will receive renewed focus as production stabilizes at Steri-Med. “We remain on track for a promising year and anticipate that efficiencies and synergies from these acquisitions will drive significantly improved performance.”

Meanwhile, Executive Vice President and CFO Luc Mainville echoed these sentiments, underscoring that eye-care’s strong market share gains helped offset financial impacts from the Steri-Med pause. “We’re satisfied with the quarter’s performance. With full Steri-Med production now resumed, we look forward to delivering sustainable growth in the coming quarters.”

Path Forward

As production normalizes across all units and new products come online, LSL Pharma appears poised for an upswing. From integrating acquisitions to launching an eye-drop portfolio and leveraging US-FDA certifications, the company’s comprehensive approach suggests a future marked by continued expansion in both domestic and international markets.