TAMPA, FL / ACCESSWIRE / July 12, 2022 / TRxADE HEALTH, INC. (NASDAQ:MEDS) ("TRxADE" or the "Company") an integrated drug procurement, delivery, and healthcare platform, today announced that Integra Pharma Solutions, LLC (d/b/a TRxADE Prime™)("Integra"), a wholly-owned pharmaceutical wholesale business, has secured a preferred distribution agreement with GALT Pharmaceuticals, LLC.
Integra, which distributes generic and brand medications directly in 34 states through its warehouse, will now add single-source and multi-source products directly from GALT Pharmaceuticals, which further adds to our mission of helping independent pharmacies and its members access top medication products as part of the TRxADE HEALTH network.
Dr. Shafaat Pirani, PharmD, BCGP, Chief Clinical and Compliance Officer for TRxADE HEALTH states, "We are pleased to partner with an innovative pharmaceutical company like GALT Pharmaceuticals. Many of the products manufactured by GALT are single-source items, thereby facilitating preferred access channels to our independent network of pharmacies. We plan on launching Oravig (miconazole) buccal tablets as our starter brand. Oravig is a clinically effective treatment indicated for Oropharyngeal Candidiasis, better known as oral thrush. The product has a drug delivery design that we believe will help patients adhere to therapy with a simple once-a-day dosing regimen."
Dr. Pirani also mentioned, "This partnership is aligned with our core competency at TRxADE HEALTH - putting our independent pharmacies in a position to succeed by providing them with access to novel products and transparent pricing so that they can better serve the patients entrusting them with their care."
Jariel (Jay) Morales, Executive Vice President of Operations for TRxADE HEALTH added, "The team is excited to present such a unique service to our industry partners in conjunction with GALT Pharmaceuticals, where we can help educate the healthcare industry on new alternative drugs with better clinical outcomes and cost savings to the healthcare infrastructure. With our marketing reach extending to over 100,000 prescribers and 50,000 prescription buyers, we believe that this is a great partnership that will lead to new opportunities for alternative channels within the pharma supply chain space, one that makes sense for today's buyers, and one with a transparent pricing model where everyone benefits and there is no price deception."
Dr. Barry Patel, PharmD, CEO of GALT Pharmaceuticals remarked, "We are thrilled about partnering with TRxADE to bring greater exposure for Oravig® so that more patients suffering from oral thrush can get effective treatment with the only localized once-a-day treatment. TRxADE's commitment to independent pharmacies align very well with GALT's dedication to supporting the success of community independent pharmacies."
"We are pleased to announce this partnership between Integra Pharma Solutions (d/b/a TRxADE Prime™) and GALT Pharmaceuticals, as it will diversify our product service offerings and renew our commitment to the independent pharmacies we serve. In an everchanging healthcare landscape, equipping our pharmacies with a robust catalog, creates values," said Mr. Suren Ajjarapu, Chairman and Chief Executive Officer of TRxADE.
About TRxADE HEALTH, INC.
TRxADE HEALTH (NASDAQ:MEDS) is a health services IT company focused on digitalizing the retail pharmacy experience by optimizing drug procurement, the prescription journey and patient engagement in the U.S. The Company operates the TRxADE drug procurement marketplace serving a total of 13,475 members nationwide, fostering price transparency and under the Bonum Health brand, offering patient centric telehealth services. For information on TRxADE HEALTH, please visit the Company's IR website at investors.trxadegroup.com .
About GALT Pharmaceuticals
GALT Pharmaceuticals has found a better way to enhance the quality of life of patients with products that answer unmet clinical needs, while creating life-changing opportunities for entrepreneurs, pharmacists, our employees, and the individuals within the communities we serve.
GALT is the first and only pharmaceutical company to create a unique pharmaceutical franchise or "Phranchise" concept that moves product representation away from corporate headquarters into local communities. Phranchises provide education to local healthcare providers while Galt manages functions such as drug research, regulatory approval, compliance and supply chain.
Learn more at www.GaltRX.com.
Oravig is the first and only muco-adhesive buccal tablet formulation of miconazole approved to treat oropharyngeal candidiasis (OPC), also known as oral thrush, in adult patients in the United States. Oravig should not be used in patients with a known hypersensitivity to miconazole, milk protein concentrate, or any other component of the product. See complete prescribing information at www.oravig.com
This press release may contain forward-looking statements, including information about management's view of TRxADE's future expectations, plans and prospects, within the meaning of the federal securities laws, including the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. In particular, when used in the preceding discussion, the words "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "will," "would" and variations of these terms and similar expressions, or the negative of these terms or similar expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of TRxADE, its divisions and concepts to be materially different than those expressed or implied in such statements. These risks include risks relating to agreements with third parties; our ability to raise funding in the future, as and if needed, and the terms of such funding; the planned benefits, expected users of, and projected revenues of our venture with Exchange Health; amounts we owe and may owe to Exchange Health in connection with the arrangement with Exchange Health; security interests under certain of our credit arrangements; the fact that we are exploring strategic alternatives for our Bonum Health, Inc. subsidiary; our operations not being profitable; the commercial viability of new business lines, applications, products and technologies, and the costs of such items; the Company's stock repurchase program; the adoption of the Company's product offerings; claims relating to alleged violations of intellectual property rights of others; our ability to monetize our technological solutions; technical problems with our websites, apps and products; risks relating to implementing our acquisition strategies; challenges to the pharmaceutical supply chain posted by the COVID-19 pandemic and related matters; our ability to manage our growth; negative effects on our operations associated with the opioid pain medication health crisis; regulatory and licensing requirement risks; risks related to changes in the U.S. healthcare environment; the status of our information systems, facilities and distribution networks; risks associated with the operations of our more established competitors; regulatory changes; new competitors which may have more resources than we do; increases in direct to consumer sales of drugs; healthcare fraud; COVID-19, governmental responses thereto, economic downturns and increased inflation and possible recessions caused thereby; changes in laws or regulations relating to our operations; privacy laws; system errors; dependence on current management; our growth strategy; dilution which may be caused by future offerings; increased inflation; and others that are included from time to time in filings made by TRxADE with the Securities and Exchange Commission, including, but not limited to, in the "Risk Factors" sections in its Form 10-Ks and Form 10-Qs and in its Form 8-Ks, which it has filed, and files from time to time, with the U.S. Securities and Exchange Commission (SEC), and more particularly in the Quarterly Report on Form 10-Q for the quarter ended March 31, 2022 and our Annual Report on Form 10-K for the year ended December 31, 2021. These reports are available at www.sec.gov. Other unknown or unpredictable factors also could have material adverse effects on TRxADE's future results and/or could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof. TRxADE cannot guarantee future results, levels of activity, performance, or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.
SOURCE: TRxADE HEALTH, INC.
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