- Pharmaceutical industry services provider Trxade Group Inc. presented an overview of the company’s structure and strategy at this month’s LD 500 invitational microcap investor summit
- The investor summit was a virtual gathering place during the ongoing pandemic, providing brand and industry information through webcasts to more than 20,000 attendees representing hundreds of companies
- Trxade Group is dedicated to helping its growing network of independent pharmacies compete with big box chains through a supply chain trading platform that delivers transparent product pricing and availability information
- Trxade Group is also developing its nascent B2C operations with Telehealth services that link home-bound or office-bound patients to board-certified physicians in a low-cost model
A Kaiser Family Foundation (“KFF”) poll conducted last year found that 24 percent of its respondents had difficulty affording prescription drugs and 29 percent of all adults reported not taking their medicines as prescribed during the previous year because of the cost, relying instead on strategies such as not filling a prescription, taking an over-the-counter drug instead, or cutting pills in half or skipping a dose (https://ibn.fm/1v0gN). As the COVID-19 pandemic was just beginning to explode on American soil this spring, The Hill reported 34 million people knew at least one friend or family member who died in the last five years because they could not afford the medication to treat their condition (https://ibn.fm/ygyYE).
The pandemic has made access to reasonably priced medicine and medical supplies more critical than ever as people seek ways to maintain their care while limiting their exposure to infection from a potentially deadly new virus. Before the virus even appeared on the international scene, pharmaceutical supplies and services provider Trxade Group (NASDAQ: MEDS) was busy building a supply chain trading platform that supports small, community-based pharmacies trying to compete with national chains, and services that help consumers use available smart technology to consult with physicians and obtain their medications without having to leave home.
Trxade Group’s platform thrives on drug pricing and availability transparency for its B2B model while taking advantage of telehealth-friendly insurer policy shifts under its B2C model.
“If you look at a typical independent pharmacy today, it is an owner-operated retail establishment that doesn’t have the bandwidth or resources to shop around for product availability and pricing. Of course, … the Affordable Care Act is today speaking of lowering the reimbursement in an effort to save money. The solution is Trxade,” CEO Suren Ajjarapu said during a webcast company presentation as part of this month’s LD 500 invitational microcap investor summit (https://ibn.fm/oIB8N). “Trxade provides solutions to these independent pharmacies that are losing money or looking for alternatives when it comes to procurement of pharmaceuticals.”
Such services are particularly important when drugs are in short supply, and when demand is driving up the cost of the products.
Ajjarapu said Trxade recognizes it is serving around 15 million patients through the medium of over 11,700 independent pharmacies in its subscription network, which is why its B2C operations, led by its Bonum Health Hub portal, are so vital.
The health hub provides patients with telemedicine access to physicians at a fraction of the cost they would typically incur for doctor visits under their insurance plans, he said. And the company’s network of pharmacy businesses, paired with its app-accessible DelivMeds same-day / mail order pharmaceuticals delivery service, make it easier for patients to have medications delivered without having to go to the store to obtain them (https://ibn.fm/9VbJC).
“Of course our B2C platform is at a nascent stage when compared to other telemedicine portals out there, but (with) the unique nature of same-day drug delivery using our network,” Ajjarapu said. “Our vision there is, for non-emergency services or health needs, patients should never leave the house, should be able to talk to the doctor, get the drugs or meds delivered directly to their home or office.”
Ajjarapu told attendees at the virtual summit that the company’s capital structure enables reasonable earnings per share relatively quickly, and significant potential for return on investment because of the company’s structure and diverse sources of revenue.
“And that’s the key differentiator of us,” he said.
For more information, visit the company’s website at www.TrxadeGroup.com.
NOTE TO INVESTORS: The latest news and updates relating to MEDS are available in the company’s newsroom at http://ibn.fm/MEDS