- Trxade Group subsidiary Community Specialty Pharmacy received certification from LegitScript following a rigorous application and review process
- Over 10,500 independent pharmacies are registered on Trxade’s S2P (supplier to pharmacy) pharmaceuticals trading platform
- The company’s first quarter 2019 revenues increased to a record $1.5 million
Trxade Group Inc. (OTCQB: TRXD), an integrated pharmaceutical services company, is focused on three key niches in the health care market, a $4 trillion industry that’s expected to grow as the general population ages. TRXD offers a unique combination of a web-based purchasing platform for transactions between independent pharmacists and drug distributors; a network of pharmacies with E-Hub software; a mail order pharmacy; and warehouse and drug delivery services.
TRXD is off to a record start this fiscal year, with reported Q1 2019 sales of $1.5 million (http://ibn.fm/lbyhN). Revenue growth was attributed to an increase in fees generated from the company’s supplier-to-pharmacy trading platform and increased pharmaceutical sales from its wholly owned subsidiary, Community Specialty Pharmacy LLC.
In Q1 2019, TRXD added more than 400 new independent pharmacies to the Trxade software trading platform, bringing the membership total to over 10,500 pharmacies. There are more than 24,000 independent pharmacies in the United States with combined pharmaceutical purchases of $93 billion per year.
“Our proprietary software trading platform at www.Trxade.com, which enables independent pharmacies to purchase drugs, is adding new members on a monthly basis and, as a result, is enabling us to experience strong top and bottom-line growth across the board,” Trxade Group Chairman and CEO Suren Ajjarapu said in a news release.
Community Specialty Pharmacy (“ComspRx”) has carved out a niche in the highly competitive pharmacy industry with a patient-driven approach. Importantly, ComspRx has secured LegitScript certification following a rigorous review process. LegitScript approval is known throughout the online advertising, social media, regulatory and payment sectors and is recognized by Visa, Mastercard, Google, Bing and others. Certification lets customers know ComspRx is committed to best-in-class pharmacy programs and operates safely and legally in a highly regulated health care marketplace, as TXRD noted in a news release (http://ibn.fm/mwkZQ).
“LegitScript certification is another way for us to help consumers understand their options and choose a pharmacy that has their best interests, and long-term health in mind,” Ajjarapu said in a news release, adding that ComspRx is dedicated to assessing a patient’s unique requirements and prescriptions and providing top-tier, comprehensive and compassionate care.
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://ibn.fm/TRXD