NetworkNewsWire
Editorial Coverage: With COVID-19 ravaging the world, medical
supply companies quickly became critically important.
Different companies provide different critical elements in the
sad saga unfolding in this pandemic. Trxade Group Inc.
(NASDAQ: MEDS) (MEDS
Profile) provides a technology platform to obtain
essential resources to corner pharmacies across the entire nation,
delivering products and facilitating services to combat the virus’
spread locally, where it matters most. Amazon.com Inc.
(NASDAQ: AMZN) has hired thousands of extra staff to
ensure the swift delivery of a diverse range of products while
assigning other employees to work on developing virus testing.
Supply chain management solutions company McKesson
Corporation (NYSE: MCK) is using its focus on locally
available resources to get people the care they need.
Cardinal Health Inc. (NYSE: CAH) has joined an
industry and FEMA coalition to increase supplies of critical PPE,
and AmerisourceBergen Corp. (NYSE: ABC) has both
donated money to organizations in need and quickly delivered a
creative update to an app for those dealing with chronic
conditions, helping them mitigate the threat of the disease.
To view an infographic of this editorial, click
here.
A Rising Crisis
The past six months have witnessed an unprecedented health
crisis that has swept across the planet. A vicious pathogen has
spread with terrible speed and is now responsible for the deaths of
nearly 50,000
people in the United States alone. As healthcare heroes bravely
struggle to respond and save lives, access to COVID-19-related
products has become critical to the success of their response.
Integral to the efforts of over ten thousand pharmacies to
procure and deliver essential supplies, Trxade Group
Inc. (NASDAQ: MEDS) plays an increasingly important
role in that indispensable supply chain. An integrated
pharmaceutical services company, Trxade provides the technology
backbone for independent pharmacies across the nation, delivering
buying power and cost savings. Trxade offers a unique combination
of products and services, including a web-based purchasing platform
for transactions between independent pharmacists and drug
distributors; a network of pharmacies with E-Hub software; a
mail-order pharmacy; and warehouse and drug delivery services. This
myriad of offerings puts the company in a strong position to
support America’s patients and healthcare heroes with the products
they desperately need.
Getting supplies to where they’re needed depends on the
integrity of the supply chain. Both consumer-facing and
business-to-business (B2B) distribution systems need to function at
high effectiveness to distribute drugs, personal protective
equipment (PPE), and other supplies to fight the stealth-like
spread of this pathogen.
Trxade provides indispensable elements in that supply chain. On
the B2B side, the company provides
purchasing systems for over 10,000 independent pharmacies –
more than a third of the independent pharmacies operating in the
U.S. – facilitating over $10 million in drug sales per month. For
consumers, its Delivmeds app and full-service mail order system
help patients get their medications on the same day that they order
them, with minimal social contact.
COVID-19 Rapid Antibody Test Kits and Pharma
Supplies
One of Trxade’s subsidiaries, Integra Pharma Solutions, supplies
healthcare products to the Department of Veterans’ Affairs,
hospitals, pharmacies, and clinics. While Integra specializes in
providing prescription pharmaceuticals, Integra has developed
several distribution channels to offer a variety of different
COVID-19 Rapid Antibody Testing Kit products. Each product
manufacturer has notified the U.S. Food and Drug Administration
(FDA) regarding its intent to commercialize and distribute the
test. Further, each product manufacturer has submitted its formal
Emergency Use Authorization (EUA) application to the FDA for
consideration. The COVID-19 Rapid Antibody Test Kits, which
provides a qualitative overview of SARS-CoV-2 antibodies in
patients who suspect they may be infected—a type of test
that will allow for a more approximate idea of those
unknowingly exposed. The test provides rapid results within 15
minutes and can use whole blood, serum, or plasma as sample
specimens. Using one of these products, healthcare workers can
effectively discern which patients necessitate quarantine or
further testing from those ready to be discharged. Test kits and
PPE are notoriously in short supply, leaving medical service
professionals scrambling to obtain what they need. Integra’s
testing kits are important components to ensure front line success
against COVID-19.
Through Integra, Trxade has made bold moves to acquire and
supply other much-needed diagnostics to combat the pandemic. The
company has filed for an
Emergency Use Authorization (EUA) with the FDA in collaboration
with its partnered manufacturer to allow use of its unique
SARS-CoV-2 IgM/IgG Antibody Rapid Test Kit, which would allow the
company further expand its distribution capabilities to its network
of independent pharmacies.
As a reliable pharmaceutical supplier for healthcare
organizations of all sizes, Integra Pharma Solutions carries a wide
range of medical products, with the aim of providing high quality
medicine at significant savings, and its success in this area has
led to multiple deals with the Department of Veterans’ Affairs. It
is launching sales of prescription products in 34 states, providing
access to high value medicine for millions of Americans.
Making COVID-19 Tests Available
Trxade will make desperately needed COVID test kits available to
accredited pharmacists, healthcare facilities and laboratories that
meet the respective State and Federal guidelines for distribution,
using its wide range of online tools. Trxade’s powerful online
platform was built to make business easier and more cost effective
for the nation’s 24,000+ independent local pharmacists, who would
otherwise struggle to compete with their larger rivals.
The Trxade marketplace allows independent pharmacists to obtain
the products they need from over 50 vetted wholesalers while saving
time and money on purchases and benefiting from discounts of up to
90%.
Trxade also provided pharmacists with a way to check the prices
they’re paying for these products - Pharma-Bay. This
online tool provides access to the PAC(TM) (Pharmacy Acquisition
Cost), a proprietary national average price for pharmaceutical
products at the pharmacy level, empowering pharmacies to determine
if they are paying fair market prices through their current
suppliers. It’s a way of bringing true price transparency into a
market that can often seem nebulous.
The combination of a price comparison mechanic and a
pharmacy-oriented purchasing platform lets pharmacies get the
supplies they need at a price they can afford. Its platform also
provides a valuable route to make COVID-19 tests available to all
key healthcare stakeholders, —even those without a large company at
their back.
Local Pharmacists on Frontline of Coronavirus
Testing
Though often forgotten in the reporting of the current crisis,
pharmacists play a vital role in the healthcare system and
consequently in the fight against COVID-19.
The nation and world as a whole have witnessed the important
role that testing plays in battling the novel coronavirus. It not
only allows patients to be identified and treated but also helps in
ascertaining the extent of the virus’s spread as well as
individuals who may have been exposed. With some carriers remaining
free of symptoms, testing plays a critical role in containing the
virus with any level of certainty. The ability of companies like
Trxade to get tests to the front lines will therefore be vitally
important.
Though not often thought of as front-line medical staff, the
Office of the Assistant Secretary for Health (OASH) for the
Department of Health and Human Services (HHS), issued guidance
authorizing pharmacists to order and administer COVID-19 tests on
April 8, 2020. They are also among the most accessible healthcare
professionals, with pharmacies found on street corners all across
America. Pharmacists’ role as screening agents provide a way for
citizens in rural and suburban areas to access testing, and
products such as the various COVID-19 Rapid Antibody Test Kits
provide the necessary tools to assist in this role.
Pharmacists are particularly useful in reaching underserved
communities and those with complex health needs. These include some
of the groups most vulnerable to coronavirus and to whom these
tests will most significantly assist. Some states are relaxing these
laws to allow administration by local pharmacies.
Businesses Rise to the Challenge of COVID
-19
In these difficult times, it is vital to ensure that medical
staff and patients receive the supplies they need, and companies
across the medical supply chain are rising to that challenge.
Amazon.com Inc. (NASDAQ: AMZN) has seen its
already prominent public position boosted by the battle against
COVID-19. With millions of people around the world confined to
their homes, online ordering and direct delivery have become a
vital lifeline. In terms of directly tackling coronavirus, Amazon
is focusing on scalable
testing. Temperature checks are being used to monitor staff at
operations sites, and it has moved staff onto work to develop
testing.
A Fortune 500 company, McKesson Corporation (NYSE:
MCK) is a global leader in supply chain management
solutions, retail pharmacy, healthcare technology, community
oncology and specialty care. Under its current leadership, the
company is focused on helping people
access the local healthcare they need. As a crucial part of the
medical supply chain, it will be supporting many professionals in
getting the resources they need in the current crisis.
Cardinal Health Inc. (NYSE: CAH) is a global,
integrated healthcare services and products company, providing
customized solutions for hospitals, health systems, pharmacies,
ambulatory surgery centers, clinical laboratories and physician
offices worldwide. In response to the COVID-19 crisis, the company
has been working around
the clock to meet the needs of healthcare providers and
patients. It has become a founding partner in an industry-wide
coalition that is working with FEMA to address supply shortages as
quickly as possible, as well as working with other branches of
government to provide PPE for service personnel around the
world.
AmerisourceBergen Corp. (NYSE: ABC) provides
pharmaceutical products and business solutions that improve access
to care, operating the backbone of the healthcare supply chain and
guiding medical innovations to market. The company’s charitable
foundation has committed $1
million to supporting communities, individuals, and nonprofits
affected by coronavirus. It has also created a COVID-19 update to its
Chronically Simple app, which helps patients and
caregivers to manage life with chronic illness or a disability.
For more information on Trxade Group, visit Trxade Group
Inc. (NASDAQ: MEDS)
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