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TRxADE Health Forms Joint Venture SOSRx.com To Expand Medication Accessibility via Manufacturer Partnerships
Mentioned: MEDS
TRxADE HEALTH, INC. (NASDAQ:MEDS) ("TRxADE" or the "Company"), 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., today announced the formation with Exchange Health, LLC, of a joint venture, SOSRx, LLC ("SOSRx"), a Pharmaceutical Platform. SOSRx will provide pharmaceutical manufacturers a single platform to optimize the sale and distribution of their inventory directly to large pharmaceutical buyers across multiple classes of trade. SOSRx opens the market to short dated, over stock and slow-moving pharmaceuticals that would otherwise be subject to destruction. TRxADE anticipates growth in 2022 as more progressive manufacturers are expected to address the public need for enhanced medication accessibility and reliable supply of cost-effective pharmaceuticals.
"We see significant synergy between SOSRx's innovative platform that addresses the unmet needs of big pharma and TRxADE's rapidly growing network comprised of 12,700+ members and the nation's top pharmaceutical supply houses", said Prashant Patel Rph, President, TRxADE.
"This is a big win for healthcare providers and patients as TRxADE is now in a better position to make healthcare more readily accessible and affordable," concluded Suren Ajjarapu, CEO, TRxADE.
"We believe that this partnership opens the supply chain to address the much larger needs of pharmaceutical companies as they begin to take future steps towards supply inefficiencies, accessibility and cost effectiveness of their pharmaceutical products while trying to safeguard the integrity of the nation's distribution networks," added Hem Pandya, Chairman, Exchange Health, LLC.
About TRxADE HEALTH, INC.
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