- An
August report published by MoneyShow brands Trxade Group
as “an undiscovered market leader that should continue to capture more
market share in the years to come”
- Trxade
Group’s mission is to empower the nation’s 24,000 small-community-focused
independent pharmacies through a strength in numbers approach that helps
make them more competitive with larger outlets
- The
company offers a web-based platform that maintains market intelligence on
over 200,000 medications – both generics and brand-named pharmaceuticals –
and provides pricing and supply alerts to members to help them secure the
best possible prices
- Trxade
Group’s efforts presaged a legislative drive to improve healthcare free
trade practices across the country amid heightened concerns regarding
independent pharmacies
- Trxade
Group delivered a 129 percent year-over-year revenue increase in its most
recent financial results
Pharmaceutical services company Trxade
Group Inc. (OTCQB: TRXD) made a favorable impression on The
Bowser Report editor Faris Sleem, who noted recently in a MoneyShow report (http://ibn.fm/898zI) that “TRXD
is an undiscovered market leader that should continue to capture more market
share in the years to come.”
The company markets a tech-supported suite of services that
help small-town, independent pharmacies compete strategically with larger big
box-related outlets through a strength-in-numbers approach to obtaining
inventory, managing inventory and delivering it to customers.
Trxade Group’s business-to-business, web-based operation
revolves around a system of proprietary databases and algorithms that identify
pharmaceutical products that are likely to be in short supply. The company’s
proprietary, self-manufactured algorithm helps it identify where supply
shortages may occur and enable pharmacies to work directly with drug suppliers,
playing on market competition to obtain the lowest possible prices for the
products.
As a result, the pharmacies may realize a significant
benefit in the reduction of their annual purchase costs. Subscribers to the
service can view products from manufacturers, wholesalers and buying groups
with almost real time market data and a level of cost transparency that was not
readily available to them in the past.
Trxade Group has signed up more than 10,650 independent
pharmacies on its trading platform, which is nearly 44 percent of the
registered independent pharmacies operating nationwide, and Trxade Group’s
numbers have continued to grow.
The nation’s independent pharmacies have increasingly found
themselves becoming an endangered species as retail has trended toward
large-scale volumes, and as the healthcare industry has been burdened by
increasing costs coupled with increasing demands for services and decreasing
quality of reimbursements from insurers. State and federal legislative bodies
from coast to coast have recently taken an interest in measures to ensure fair
competition related to the market pressures that play on small, independent
pharmacies, striving to provide a measure of regulatory relief (http://ibn.fm/EHinA).
Trxade Group’s model draws on the hometown,
community-favoring history of independent pharmacies to establish a national
network environment that sustains a friendly relationship between
pharmaceutical buyers and sellers through transparency-promoting protocols. The
company maintains an extensive portfolio of generics and other pharmaceuticals
on its platform, with options for pricing alerts and analytics from over
200,000 medications listed under The National Drug Code.
“Trxade Group in time is becoming the epicenter of good
pharmaceutical practice and fair trade at a time when healthcare law has just
begun to focus on cost cutting and efficiency,” President, COO and Director
Prashant Patel stated in a message posted on the company’s website (http://ibn.fm/gAdKs). “We offer
the missing piece to the new Affordable Care Act by helping reduce
pharmaceutical costs and thus play a major role in tomorrow’s new healthcare
era.”
Chairman and CEO Suren Ajjarapu recently reported a 129
percent year-over-year increase in company revenues for the second quarter as
independent pharmacies have worked to be more aggressive in sourcing
medication (http://ibn.fm/jtkff).
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
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