In addition to obtaining a pharmacy license from the TSBP, EPIQ Scripts has also obtained its National Provider Identifier (NPI) number and is now a member of the National Council for Prescription Drug Programs (NCPDP), a standards development organization.
EPIQ Scripts plans to operate as an online mail-order compounding pharmacy, with a specific target to service and support telehealth and telemedicine companies, and their respective customers and patients, that have been rapidly entering into the market.
According to a July 2021 report by All The Research, the Global Online Pharmacy market was valued at $68.2 billion in 2020, and it is expected to reach $202.3 billion by 2027, a compounded annual growth rate (CAGR) of 16.8%. All The Research expects the growth of the online pharmacy market to be attributed to a rise in the number of internet consumers, increased access to online services, increased government support with favorable polices, and the growing execution of e-prescriptions in healthcare facilities.
“I am extremely pleased with the accomplishments and significant progress EPIQ Scripts has made in such a short period of time, since officially launching earlier in February,” commented Jacob Cohen, President and CEO of AMIH, who continued, “In just a little over three months, EPIQ Scripts has (i) assembled a fully equipped, staffed and operational pharmacy location occupying approximately 3,000 sq. ft., (ii) submitted its application with the Utilization Review Accreditation Commission (URAC), (iii) obtained its pharmacy license from the Texas State Board of Pharmacy, (iv) become a member of the NCPDP, and (v) received its National Provider Identifier (NPI) number. This has set the stage to allow EPIQ Scripts to focus on its business development and further its expansion initiatives into additional states across the U.S.”
“With our initial license from the Texas State Board of Pharmacy now in place, EPIQ Scripts will now turn its attention on securing pharmacy licenses and accreditations in the remaining 49 states across the U.S., so that we can attract and support telemedicine companies seeking to reach customers on a national level,” commented Sultan Haroon, Manager and Director of Operations of EPIQ Scripts. “Our goal is to eventually position EPIQ Scripts to compete with TruePill - the online pharmacy that provides fulfillment services to popular telemedicine companies such as Hims and Hers and GoodRx and was recently valued by TruePill at $1.6 billion - and other online digital pharmacies as we seek to rapidly rollout our solutions in the sizeable telemedicine markets,” further commented Mr. Haroon.
