- Trxade Group, an integrated pharmaceutical services company, recently announced positive financial results for the final quarter of 2018
- Revenue from the Trxade market platform grew 16 percent in 2018, reaching $3.4 million from $2.93 million in 2017
- Trxade has also announced plans to continue expanding its range of services, as well as the network of independent pharmacists reliant on the Trxade B2B platform
Financial results show that 2018 was a successful year of growth for Trxade Group Inc. (OTCQB: TRXD), an integrated drug purchasing and delivery solutions company with a platform that enhances supply chain efficiencies among health care buyers and sellers of pharmaceuticals, accessories and services. The company recently presented its report for the final quarter of 2018, highlighting a number of key accomplishments (http://nnw.fm/Dq3JZ).
Revenue from the Trxade market platform operations reached $3.4 million in 2018 – an increase of 16 percent on an annual basis. Revenue from Community Specialty Pharmacy, a company acquired by Trxade in 2018, reached $395,418 in the final quarter of 2018, the report shows. The company’s operating loss decreased from $395,095 in 2017 to $87,617 in 2018.
The company achieved a number of important milestones over the past year. The acquisition of Community Specialty Pharmacy was one of the biggest highlights. Community Specialty Pharmacy LLC was incorporated in 2010, carving a niche in the competitive independent pharmacy field through a patient-driven approach. As a specialty pharmacy, the company can provide niche health care solutions to patients dealing with an array of chronic conditions.
Trxade has announced plans to continue working on its expansion and has already taken steps in this direction. At the end of February 2019, Trxade Group launched its MSO pharmacy network via a SyncHealth joint venture (http://nnw.fm/E4yqN). In addition, the Trxade network of independent retail pharmacies surpassed 10,000 members at the beginning of the year. This figure accounts for nearly 40 percent of U.S. independent pharmacists that purchase prescription drugs through the Trxade B2B platform.
Through the use of innovative technologies and industry services, Trxade Managed Services Organization (“Trxade MSO”) enables members of the network to improve patient care by best servicing physician orders utilizing an efficient patient-centric process. Through the use of the Trxade MSO artificial intelligence software, pharmacists can both predefine and monitor best-suited services that are relevant to the specific needs of the patient.
In addition, the software enables pharmacists to ensure appropriate medication coverage on the basis of location, payor coverage, medication access, inventory and custom services. These solutions allow pharmacists to enhance patient care by adopting a customer-centric approach and promoting improved workflow management, reporting and fulfillment.
Trxade continues working to improve Trxade MSO’s features. A few of the upgrades anticipated in the future include the integration of telemedicine and the introduction of an Rx Manager. The second functionality will allow for easier script management by clinicians.
Trxade Group is a leader in the realm of pharmaceutical e-commerce marketplaces. The company’s platform enables thousands of independent pharmacists to access low-cost medication from a wide range of wholesale distributors. The proprietary patient-centric E-HUB technology and the Trxade affiliate channel partnerships enable the provision of workflow technology solutions for the generation of new independent pharmacist business.
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://nnw.fm/TRXD
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