- An August report published by MoneyShow brands Trxade Group as “an undiscovered market leader that should continue to capture more market share in the years to come”
- Trxade Group’s mission is to empower the nation’s 24,000 small-community-focused independent pharmacies through a strength in numbers approach that helps make them more competitive with larger outlets
- The company offers a web-based platform that maintains market intelligence on over 200,000 medications – both generics and brand-named pharmaceuticals – and provides pricing and supply alerts to members to help them secure the best possible prices
- Trxade Group’s efforts presaged a legislative drive to improve healthcare free trade practices across the country amid heightened concerns regarding independent pharmacies
- Trxade Group delivered a 129 percent year-over-year revenue increase in its most recent financial results
Pharmaceutical services company Trxade Group Inc. (OTCQB: TRXD) made a favorable impression on The Bowser Report editor Faris Sleem, who noted recently in a MoneyShow report (http://ibn.fm/898zI) that “TRXD is an undiscovered market leader that should continue to capture more market share in the years to come.”
The company markets a tech-supported suite of services that help small-town, independent pharmacies compete strategically with larger big box-related outlets through a strength-in-numbers approach to obtaining inventory, managing inventory and delivering it to customers.
Trxade Group’s business-to-business, web-based operation revolves around a system of proprietary databases and algorithms that identify pharmaceutical products that are likely to be in short supply. The company’s proprietary, self-manufactured algorithm helps it identify where supply shortages may occur and enable pharmacies to work directly with drug suppliers, playing on market competition to obtain the lowest possible prices for the products.
As a result, the pharmacies may realize a significant benefit in the reduction of their annual purchase costs. Subscribers to the service can view products from manufacturers, wholesalers and buying groups with almost real time market data and a level of cost transparency that was not readily available to them in the past.
Trxade Group has signed up more than 10,650 independent pharmacies on its trading platform, which is nearly 44 percent of the registered independent pharmacies operating nationwide, and Trxade Group’s numbers have continued to grow.
The nation’s independent pharmacies have increasingly found themselves becoming an endangered species as retail has trended toward large-scale volumes, and as the healthcare industry has been burdened by increasing costs coupled with increasing demands for services and decreasing quality of reimbursements from insurers. State and federal legislative bodies from coast to coast have recently taken an interest in measures to ensure fair competition related to the market pressures that play on small, independent pharmacies, striving to provide a measure of regulatory relief (http://ibn.fm/EHinA).
Trxade Group’s model draws on the hometown, community-favoring history of independent pharmacies to establish a national network environment that sustains a friendly relationship between pharmaceutical buyers and sellers through transparency-promoting protocols. The company maintains an extensive portfolio of generics and other pharmaceuticals on its platform, with options for pricing alerts and analytics from over 200,000 medications listed under The National Drug Code.
“Trxade Group in time is becoming the epicenter of good pharmaceutical practice and fair trade at a time when healthcare law has just begun to focus on cost cutting and efficiency,” President, COO and Director Prashant Patel stated in a message posted on the company’s website (http://ibn.fm/gAdKs). “We offer the missing piece to the new Affordable Care Act by helping reduce pharmaceutical costs and thus play a major role in tomorrow’s new healthcare era.”
Chairman and CEO Suren Ajjarapu recently reported a 129 percent year-over-year increase in company revenues for the second quarter as independent pharmacies have worked to be more aggressive in sourcing medication (http://ibn.fm/jtkff).
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
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