- The
consolidation of corporate pharmacy chains and constantly increasing
competition are two of the main factors contributing to the problems
facing independent and community pharmacies
- The
pharmaceutical sector is incredibly lucrative, with large players such as
Amazon also attempting to secure part of the market; as a result of such
large developments, community pharmacies have been experiencing declining
profits and margins
- Trxade
Group is working to empower independent pharmacy owners by providing
valuable support and information about affordable supplying options; access
to real-time information gives small pharmacies the tools needed to
compete against large industry players
Growing competition and the consolidation of corporate
pharmacy chains are two of the biggest challenges that small and independent
pharmacies have to overcome. Companies like Trxade Group Inc. (OTCQB: TRXD) are working on the
development of technological solutions that will enable small industry players
to remain competitive.
A number of pharmacy chains dominate the prescription drug
market in the U.S. Statistics from 2018 suggest that the biggest industry
player alone holds 24.2 percent of the market, followed by the second largest
chain, which holds 17.5 percent (http://ibn.fm/nLdnb). Adding declining margins to the mix
makes it very difficult for small community pharmacies to stay afloat.
One of the latest developments that has impacted the
business of small pharmacies in the U.S. is the Amazon acquisition of
PillPack (http://ibn.fm/2Qbnc).
The deal was concluded in 2018, but the effect it’s having on the
pharmaceutical market is only being amplified with the passage of time.
PillPack offers online sales, delivering most of the
medications that consumers can get in brick-and-mortar pharmacies. Automatic
refills and 24/7 customer support add to the convenience of the service and
boost the threat that smaller industry players are facing.
All of these major developments are contributing to a trend
that has been ongoing for several years. Since 2016, there has been a
sustainable declining profits trend among independent pharmacies (http://ibn.fm/M9wU8). During
that year alone, overall gross margins for prescription and non-prescription
products were 22.1 percent, in comparison to 24 percent in 2010. As a result of
such trends, the number of independent pharmacies has been steadily declining.
However, community pharmacies and small businesses do have
an opportunity to fight back and ensure their economic survival. This is where
Trxade Group, an integrated pharmaceutical services company that focuses on
supporting independent and community-based pharmacies, comes in.
The company’s Trxade Exchange platform creates new and
widens existing distribution channels for independent pharmacies. The service
enables members of the platform to view manufacturer, wholesaler and buyer group
prices. The real-time information makes it easy to access the most affordable
supplies and improve overall margins.
As of September 2019, Trxade Exchange’s membership has
reached 10,500 pharmacies out of the 24,000 independent entities operating in
the U.S. Joining the platform makes it easier for smaller industry
representatives to compete with the large retail chains that have solid,
affordable supply agreements because they can buy in bulk.
Trxade Group is constantly working to empower small businesses.
Apart from its Trxade Exchange platform, the company is developing additional
products to maximize data analysis capabilities and inventory management.
For more information, visit the company’s website at www.TrxadeGroup.com
NOTE TO INVESTORS: The latest news and updates
relating to TRXD are available in the company’s newsroom at http://ibn.fm/TRXD
About QualityStocks
QualityStocks is
committed to connecting subscribers with companies that have huge potential to
succeed in the short and long-term future. It is part of our mission statement
to help the investment community discover emerging companies that offer
excellent growth potential. We offer several ways for investors to learn more
about investing in these companies as well as find and evaluate them.
QualityStocks (QS)
Scottsdale, Arizona
www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com
Scottsdale, Arizona
www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com
Please see full terms of use and disclaimers on the
QualityStocks website applicable to all content provided by QS, wherever
published or re-republished: http://www.qualitystocks.net/disclaimer.php
1 comment:
nitazoxanide 500 mg is an antiparasitic medication, used in the treatment of diarrhea and worm infections. It inhibits the growth of the parasite and thus treats your infection. It should be used with food, preferably at a fixed time. Avoid skipping any doses and finish the full course of treatment even if you feel better.
Post a Comment