- Trxade Group provides a digitalized supply stream for pharmaceutical and health care services as part of its founding focus on empowering small, independent pharmacies that historically have struggled to compete against large corporate chains
- The company reported second quarter results July 27 that showed its revenues had grown 244 percent to a record $6.6 million in year-over-year quarterly results, triple the amount garnered during the first quarter of the year
- The global COVID-19 pandemic caught world markets by surprise during the spring, but Trxade’s emphasis on telemedicine and other online-accessible services positioned it as a visionary company well able to weather the health emergency
- The company has more than 50 percent penetration of its community pharmacy market nationwide and foresees further growth not only in member participation, but in fee revenue from sales-per-pharmacy metrics
The second quarter financial report of emerging pharmaceutical supplies and services provider Trxade Group (NASDAQ: MEDS) is a modern-moment testament to the hardiness of American entrepreneurial solutions under the most difficult of situations. While large segments of the population have faced easily understandable worries about the economic impacts of governmental and corporate policies responding to the potentially deadly and disabling coronavirus pandemic, many small businesses have found ways to not only survive, but to thrive.
“Revenues for the second quarter of 2020 increased 244% to a record $6.6 million, compared to revenue of $1.9 million in the same quarter last year. Sequentially, this represents an increase of 199% when compared to revenues of $2.2 million in the first quarter of 2020,” Trxade CFO Howard Doss told investors during the…
NOTE TO INVESTORS: The latest news and updates relating to MEDS are available in the company’s newsroom at http://nnw.fm/MEDS
About NetworkNewsWire
NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 77948 (U.S. Mobile Phones Only)
For more information, please visit https://www.NetworkNewsWire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
NetworkNewsWire is part of the InvestorBrandNetwork.