HealthWarehouse.com, Inc. is a leading retail mail-order pharmacy with a mission to provide affordable healthcare to every American by eliminating inefficiencies in the drug distribution chain. HealthWarehouse.com trades on the OTC Bulletin Board and has their corporate headquarters in Cincinnati, Ohio.
HealthWarehouse.com offers 300 prescription drugs for $3.50 with 100 percent free shipping. The Company is a 2009 winner of the BizRate Circle of Excellence Award for outstanding customer satisfaction and service. They have become one of the fastest growing online pharmacies in the United States and are licensed in 49 states. The Company only sells drugs that are FDA-approved and legal for sale in the United States.
HealthWarehouse.com, Inc.’s operations center around a state-of-the-art pharmacy. This pharmacy is capable of handling more than 3,000 prescriptions per day. The Company currently services more than 70,000 unique customers.
The Company also offers 90-day returns with no restocking fees, handles defective product returns to the manufacturer, and refers customers to competitors when a product is out of stock. All products ship from their 16,000 square foot warehouse in Cincinnati. Their centralized location allows their products to reach 80 percent of the U.S. within 2 to 3 days.
On August 17, 2010, HealthWarehouse.com, Inc. announced their financial results for the second quarter ended June 30, 2010. During the quarter, their quarterly net sales increased 106 percent to $1.77 million, up from $858,443, compared to the same period in 2009. The sales were driven by growth in prescription and business-to-business customers.
Selling, general and administrative expenses (SG&A) increased by $428,861 for the three months ended June 30, 2010 compared to the same period in 2009. Net loss for the three months ended June 30, 2010 increased 64 percent to $649,329, as compared with a net loss of $396,271 for the same period in 2009. The increase in SG&A expenses and net loss was mainly due to the expansion of resources to handle growth in prescription sales.
Lalit Dhadphale, President and CEO of HealthWarehouse.com, said, “Consumers are becoming increasingly savvy at managing their prescription drug costs as unemployment remains high and insurance benefits erode for those who are employed. We remain committed to providing consumers relief from high prescription drug costs at a time when they need it most.”
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