Will “Made In China” Be Good For The Pharma Industry?

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Will "Made In China" Be Good For The Pharma Industry?

In the past medications from China were looked down upon and not trusted by many physicians around the world, including their own Chinese doctors. These medications are completely unregulated and have not been approved by the Chinese FDA. On appearance alone, many of the medications look identical; however, these medicines are dangerous and even fatal partly due to a lack of expertise, a shortage of quality manufacturing facilities, a small pool of talent to choose from, and a slow approval process by the State Food and Drug Administration (SFDA).

Gradually they are raising the standards of their drug manufacturing processes. Some Chinese pharmaceutical companies are even partnering with American pharmaceutical companies to ensure better quality and a higher efficacy rate. These partnerships and the government’s efforts to incentivize privately owned businesses in China could revolutionize the pharmaceutical industry bringing costs down. Do you think this could have the potential to reduce drug prices in the U.S.? It does seem to be plausible.

Get an Additional $30-$50 on Diabetic Claims

The voice of the customer is extremely important to us. When you speak, we listen. Did you know that if you ‘TRxADE it”, you can not only save money on insulin, but you can also save money on complimentary DME products as well? Last week Courtney with Shellman Drugs in Shellman Georgia reached out to us to let us know due to TRxADE they are making an additional $30-$50 per claim by purchasing insulin, syringes, and test strips on the TRxADE buying platform.

TRxADE is your one-stop-shop for all your Diabetic needs. We compare prices for several insulin suppliers, but also for syringes and test strips as well including overstock from peer pharmacies where allowed by state law.

Courtney may look familiar as two weeks ago we received a testimonial that due to TRxADE’s savings they went their first week in years without negative losses on reimbursements!

TRxADE it!

Before you place your order with your Primary or Secondary’s, TRxADE your order and compare pricing before buying! Save on medications especially with negative reimbursements. Many pharmacies have grown accustomed to rebates, high volume discounts or kickbacks. When you TRxADE it you get immediate savings, and hard cash immediately back into your pharmacy’s bottom line instantly. Stay profitable fellow pharmacies and join in our fight to ensure Independent Pharmacies Thrive, not just Survive! What are you waiting for? TRxADE it today!

References:

TRxADE Health, Inc. Reports Increase in 2015 First Quarter Financial and Operational Results

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TAMPA, FL / ACCESSWIRE / May 6, 2015 / TRxADE Health, Inc., (OTCQB: TRXD) a web-based pharmaceutical marketplace engaged in promoting and enabling trade among independent pharmacies and large pharmaceutical suppliers nationally, announced today its financial and operational results for first quarter 2015.

FINANCIAL HIGHLIGHTS FOR THE THREE MONTHS ENDED MARCH 31, 2015.

  • Revenue for the three-month period ending March 31, 2015 and 2014 was $696,133 and $244,196, respectfully showing a substantial 185% growth over the same period last year, and an 18% growth over the three-month period ending December 31, 2014 of $591,624.
  • Gross profit from the three-month period ending March 31, 2015 and 2014 was $465,670 compared to $97,406, respectfully.
  • The net operating loss for the three-month period ending March 31, 2015 and 2014 was $(443,620) and $(921,995), respectfully.

2015 OPERATION HIGHLIGHTS TO DATE

  • Launched new look and feel of application in the first quarter of 2015 that complements TRxADE.com’s efforts of delivering information at time of purchase.
  • Launched Westminsterrx.com in March 2015 for wholesaler-to-pharmacy trading.
  • Opened new warehouse in Mississippi with capabilities to inventory products and improved logistics.
  • Appointment of Mr. Fernando Sanchez as a Board Member, he comes to TRxADE with CFO experience with public companies.

MANAGEMENT COMMENTARY

Mr. Suren Ajjarapu, CEO, stated, “The first quarter financial results continued to reflect 24% growth quarter over quarter for our supplier to pharmacy trade (S2P), and growth continues for our pharmacy to pharmacy trade (P2P). We continue to add 200-225 new validated pharmacies per month. As expressed by the company in the past, we continue to focus our energies on our disruptive technology and data analytics for supply and distribution problems for independent pharmacies, which represents a vast market opportunity to TRxADE S2P trade much larger and more dependable.”

“We continue to develop new modules and expect to add more verticals and customers in coming quarters. We recently announced usage of our bulk upload applications in North America. We believe that, this application could become a substantial revenue driver not only for pharmacies, but TRxADE as well.”

“The first quarter results are exciting, but we believe they are a minor reflection of the opportunities we have in front of us. We have consistently been adding more customers monthly that have begun testing our trading platform. Over the past couple of years, more than 3300 customers have tested our applications, and we see a growing number of third and fifth-time buyers which is a good indicator for growth and market acceptance. The company continues to see expansion of revenue opportunities from S2P trade.”

About TRxADE Health, Inc.

Headquartered in Tampa, Florida, TRxADE Health, Inc. is a web based market platform that enables trade among healthcare buyers and sellers of pharmaceuticals, accessories and services. Please visit us at https://trxadehealth.com/.

Forward-Looking Statements

The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.

You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements.

Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. Except as may be required by applicable law, we assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

Media Contact:

Carol Lucas
(800) 261-0281
carol@trxade.com

Investor and Analyst Contact:

Howard Doss
(941) 228-0162
hdoss@trxade.com

Investor Relations:

Capital Group Communications
Mark Bernhard
(415) 332-7200 Ext. 222
mark@cgcone.com

SOURCE: TRxADE Health, Inc.

The “Lock-In” Pharmacy Approach to Rx Drug Abuse

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The “Lock-In” Pharmacy Approach to Rx Drug Abuse

By Kevin Schweers

A proposal to restrict certain Medicare beneficiaries to use only a dedicated, “lock-in” pharmacy for their controlled substances is now a part of legislation introduced by two House lawmakers.

House Ways and Means Health Subcommittee Chair Kevin Brady (R-Texas) and Ranking Member Jim McDermott (D-Wash.) recently proposed the Protecting the Integrity of Medicare Act (PIMA). The broad bill is comprised of a range of proposals intended to reduce Medicare fraud, waste and abuse. Its features include the “lock-in” pharmacy idea.

Read Full Article Here: http://ncpanet.wordpress.com/2014/12/10/the-lock-in-pharmacy-approach-to-rx-drug-abuse/

 

TRxADE Health Investors

National Health Expenditure Projections, 2013–23: Faster Growth Expected With Expanded Coverage And Improving Economy

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National Health Expenditure Projections, 2013–23: Faster Growth Expected With Expanded Coverage And Improving Economy

Posted by: Healthaffairs.org

In 2013 health spending growth is expected to have remained slow, at 3.6 percent, as a result of the sluggish economic recovery, the effects of sequestration, and continued increases in private health insurance cost-sharing requirements. The combined effects of the Affordable Care Act’s coverage expansions, faster economic growth, and population aging are expected to fuel health spending growth this year and thereafter (5.6 percent in 2014 and 6.0 percent per year for 2015–23). However, the average rate of increase through 2023 is projected to be slower than the 7.2 percent average growth experienced during 1990–2008. Because health spending is projected to grow 1.1 percentage points faster than the average economic growth during 2013–23, the health share of the gross domestic product is expected to rise from 17.2 percent in 2012 to 19.3 percent in 2023.

Read Full Article Here: http://content.healthaffairs.org/content/early/2014/08/27/hlthaff.2014.0560.full.html