- Offers a proprietary web-based
platform that enables trade among healthcare buyers and sellers of
pharmaceuticals, accessories and services
- Significant
first-mover advantage over competitors operating similar e-commerce
platforms
- Targeting
the 24,000 U.S. independent pharmacies with combined pharmaceutical
purchases of $93 billion per year
- Currently
adding 100+ pharmacies per month to the TRxADE platform
- Revenue
growth driven by increases in the number of registered users and increase
in utilization rate of the trading platform
Trxade Group Inc. (OTCQB: TRXD) is an integrated pharmaceutical
services company that offers a unique combination of a web-based purchasing
platform (www.Trxade.com)
for transactions between independent pharmacists and drug distributors (B2B); a
network of pharmacies with E-Hub software; a mail order pharmacy; and warehouse
and drug delivery services. This synergistic combination of product offerings
and superior data analytics is poised to benefit all stakeholders and consumers
within the pharmaceutical industry.
Trxade will leverage and scale its fully integrated model to
execute the following growth strategies:
- Increase
share of pharmacist drug purchasing
- Additional
SKUs and expand product breath
- Partner
with Specialty and International Mfg.
- Expand
mail order licenses to all 50 states
- Scale
Delivmeds for consumer delivery nationwide
- Integration
with telemedicine
- M&A
Opportunities within drug value chain
Founded in 2010 and headquartered in Tampa, Florida, Trxade’s overarching
corporate strategy is to penetrate the existing retail independent pharmacy
marketplace and diversify the company’s pharmaceutical mix with additional
specialty and acute care products. Trxade is advancing on this mission by focusing
on three key niches in the health care market.
Business-to-Business (B2B)
The $330 billion U.S. pharmaceutical industry is comprised
of more than 65,000 pharmacy facilities and 1,500 state-licensed suppliers.
Roughly 24,000 of these facilities are independent pharmacies, which
collectively spend approximately $93 billion a year on branded and generic
drugs.
Trxade targets these independent pharmacies, leveraging a
robust, “E-Bay/Kayak-like” technology platform with optimum buyer/seller
pricing algorithms, product availability, and predictive data analytics
features.
Trxade currently serves and transacts with more than
one-third (10,250) of these independent pharmacies and facilitates over $10
million of drug purchases a month!
Consumer
Trxade also targets the “consumer side” of the
pharmaceutical industry, aiming to lower prescription drug costs by attacking
the inefficient value chain; offering drug price transparency and efficient
buying; and, delivering drugs DIRECT to independent pharmacists and consumers.
The company operates a full-service mail order pharmacy for
U.S. consumers, as well as a mobile app called “Delivmeds” (www.Delivmeds.com) which
enables SAME DAY home delivery of dispensed prescriptions.
Retail
Trxade’s Managed Services Organization (“TrxadeMSO”) enables
its member independent retail pharmacies to get patients, process orders, and
deliver or ship prescriptions to patients. TrxadeMSO provides access to
encompassing network of pharmacies through the E-Hub software, allowing for
timely and comprehensive medication fulfillment.
These offerings ensure the best-suited pharmacy receives the
patient’s information, thereby ensuring appropriate medication coverage based
on the patient’s location, payor coverage, and medication access/inventory.
This will save the clinicians and their staff time as they benefit from
efficiency and enhanced workflow management in script processing and
fulfillment.
Health Care Market
The U.S. health care market currently hovers near $4
trillion and is expected to grow as the general population ages. This growth
will have greater impact on consumers as out-of-pocket expenses also rise.
Additionally, drug costs are paced to increase faster than the overall health
care and well above inflation.
Drug pricing is variable, and reimbursement is squeezing
profits. This provides significant opportunity for the Trxade model of price
visibility and profit optimization.
Trxade’s fair online market platform targets the nation’s
retail community and independent pharmacies, of which there are approximately
24,000 nationwide. TRxADE has found that independent pharmacies, in order to be
cost-effective, often operate with minimal staff and conduct up-to-the minute
price checks. The TRxADE S2P platform gives these pharmacists the ability to
easily compare the price of drugs offered by various suppliers and select the
most favorable deals, saving money by taking advantage of best purchase
pricing.
TRxADE’s programs include:
- TRxADE Exchange,
which opens and widens the distribution channel to the retail, community
pharmacy. A purchasing pharmacy can view products from manufacturers,
buying groups, and wholesalers on a real-time and continuous basis. This
approach significantly enhances the competitive spirit of the exchange
where the lowest price exists for each product at any given point in
time. TRxADE has become a competitive tool for all progressive entities
and is recognized for its easy searching of hard-to-find generic
pharmaceuticals at substantially reduced prices.
- RX
Guru is an industry-leading price prediction model that integrates
product shortage insight into pharmacy acquisition benchmarks (“PAC”) to
ascertain trends and pricing variances that result in significant
purchasing opportunities. RX Guru affords members the opportunity to
continuously benefit from real price purchasing opportunities that are
concealed from the rest of the industry.
- Product
Shortage Database – TRxADE maintains the most comprehensive retail,
specialty and acute care pharmaceutical product shortage database in the
country. Other industry competitors mainly restrict their efforts
to specialty and acute care product shortages and narrowly research oral
generic products. TRxADE’s advanced prediction tools help members source
those hard-to-find products at affordable costs in a timely and
easy-to-search process.
Management Team
Trxade’s management team is rich in expertise within the
pharmaceutical supply chain and is supported by a base of advisors and contractors
who are experts in related fields of the pharmaceutical sector.
Suren Ajjarapu – Chairman of the Board, Chief Executive
Officer and Secretary
Suren Ajjarapu has served as Trxade’s chairman of the board, CEO and secretary since 2014, and as the chairman of the board, chief executive officer and secretary of Trxade Nevada since its inception. Ajjarapu also serves as a chairman of the board for Feeder Creek Group Inc., since March 2018. Ajjarapu formerly was a founder, CEO and chairman of Sansur Renewable Energy Inc., a company involved in developing wind power sites in the Midwest, United States; a founder, president and director of Aemetis Inc., a biofuels company (AMTX.OB); a founder, chairman and CEO of International Biofuels, a subsidiary of Aemetis Inc.; and a co-founder, COO, and director at Global Information Technology Inc., an IT outsourcing and systems design company. Ajjarapu holds an M.S. in environmental engineering from South Dakota State University, Brookings, South Dakota, and an MBA from the University of South Florida, specializing in international finance and management. Ajjarapu is also a graduate of the Venture Capital and Private Equity program at Harvard University.
Prashant Patel – Director, President and Chief Operating
Officer
Prashant Patel has served as Trxade’s full-time president and COO, and as a director since the company’s acquisition of Trxade Nevada in 2014, and as the COO and president and as a director of Trxade Nevada since its inception. He has been a president and member of the board of Trxade since August 2010. Patel is a registered pharmacist and pharmaceutical consultant with over 10 years of experience in retail pharmacy and pharmaceutical logistics. He is the founder of several pharmacies in the Tampa Bay area, in Florida. Since 2008, Patel has been managing member of the APAA LLC pharmacy. Since 2007, Patel has been a vice president of Holiday Pharmacy Inc. Patel graduated from Nottingham University School of Pharmacy and practiced in the United Kingdom before obtaining his masters in Transport, Trade and Finance from Cass Business School, City University, UK.
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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