Trxade Group (OTCQB: TRXD), an integrated pharmaceutical services company, today announced the company’s financial results for its second quarter, ended June 30, 2019, as well as provided a business update and positive outlook for the rest of 2019. Among the highlights, Trxade reported generating record revenues of $1,916,414 for second quarter 2019 compared to $837,688 for the same quarter last year. In addition, gross profit for the company increased to $1,163,276 from $837,688 and operating income increased to $132,705 from $31,446 in the quarter ending June 30, 2019 and 2018, respectively. The company attributes the increase in revenue primarily to the acquisition of its wholly owned subsidiary Community Specialty Pharmacy, LLC. “During the second quarter 2019, we made excellent progress executing against our key strategic priorities in our Delivmeds.com program, our B2C commercial efforts and our proprietary B2B trading platform www.trxade.com, which enables independent pharmacies to purchase drugs at an average discount of between 15%-20%, enabling us to experience top and bottom line growth,” Trxade Chairman and CEO Suren Ajjarapu said in the news release.
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About Trxade Group, Inc.
Headquartered in Tampa, Florida, Trxade Group, Inc. (OTCQB: TRXD) is an integrated pharmaceutical logistical services company that combines a web-based purchasing platform for transactions between independent pharmacists and drug manufacturers, E-Hub with a mail order pharmacy, warehouse and drug delivery services for consumers nationwide The company has over 10,500 registered independent pharmacies on the web-based market platform that enables the pharmacies to quickly, cost effectively source and purchase pharmaceuticals, accessories and services from a wide range of manufacturers and drug distributors. For more information, visit the company’s website at www.TrxadeGroup.com.
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