- Revenues for Q1 2020 up 46% year over year
- Gross profit of 75% shows viability of business model
- Close to 12,000 independent pharmacies now using online marketplace
Stellar results recently reported by Trxade Group Inc. (NASDAQ: MEDS) are an indication that, increasingly, independent pharmacies, drug distributors and manufacturers are turning to the company’s web-based purchasing platform. At $2.2 million, revenues for Q1 2020 were up 46% year over year, with gross profit coming in at an extraordinary 74.4%. Now that more than 11,900 pharmacies are using the marketplace, Trxade seems set to fulfil its mission of signing most of the nation’s 24,000 independent pharmacies. If so, the company’s combined annual purchasing power of over $92 billion would make Trxade the nation’s premier marketplace for America’s vital pharmaceutical supplies.
Both for patients and pharmacists, the pharmaceutical marketplace that Trxade provides is a welcome adjunct to the healthcare sector. The online platform not only identifies the best available prices for prescription drugs, a constant concern of patients, but helps pharmacists avoid negative reimbursement costs, which reduce their…
NOTE TO INVESTORS: The latest news and updates relating to MEDS are available in the company’s newsroom at http://nnw.fm/MEDS
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