TAMPA, Fla., Dec. 2, 2015 (GLOBE NEWSWIRE) -- Trxade Group, Inc., (OTCQB:TRXD) a web-based pharmaceutical marketplace engaged in promoting and enabling trade among independent pharmacies and large pharmaceutical suppliers nationally, announced today that it added 400 new customers to its network of independent pharmacy users, bringing the total to 5,000 pharmacies.
Trxade's Supplier-to-Pharmacy (S2P) web-based service enables pharmacies to compare prices for and purchase pharmaceutical products from a wide number of pharmaceutical wholesalers from a single point. Without S2P, if pharmacies want to compare prices from multiple suppliers, they need to search prices from each supplier individually – a time-consuming process. S2P brings pricing transparency, supplier price competition and simplifies the purchasing process for pharmacy customers saving time as well as costs. Trxade's web platform also includes pharmacy-to-pharmacy trading capabilities (P2P) to help customers monetize their overstocked inventories.
"We are proud of reaching this important customer milestone," commented Suren Ajjarapu, Trxade's Chairman and Chief Executive Officer. "Since June, we have grown our customer base by over 40%. Over the next few years our goal is to grow revenues flowing through our platform by increasing the number of pharmacies using our services as well as the amount of purchasing done through our platform. With 24,000 independent pharmacies in the U.S. accounting for $93 billion in pharmaceutical purchases each year, we believe we have tremendous growth potential ahead of us."
About Trxade Group, Inc.
Headquartered in Tampa, Florida, Trxade Group, Inc. is a web based market platform that enables trade among healthcare buyers and sellers of pharmaceuticals, accessories and services. Founded in 2010, Trxade Group currently operates the trading platform with 5,000 registered members. Trxade Group also distributes directly private label pharmaceuticals through their 100% subsidiary Westminster Pharmaceuticals to these registered members. For additional information please visit us at http://www.trxadegroup.com/
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CONTACT: Investor Relations Contact:
Max Pashman
Phone: 818-280-6800
mpashman@irpartnersinc.com
