Progressive Care Inc (OTCMKTS:RXMD), a provider of prescription pharmaceuticals through its subsidiary PharmCo, LLC, is pleased to announce record-breaking pharmacy revenues for May 2015.
As per the reports, the company has earned over $2.3 million in the last two months i.e. April and May.
Insights On Matter:
A recent statement of Progressive Care unveiled that it earned highest revenues to date in April and May. Over the last two months, the company witnessed a massive hike in prescription filling as well. As per the reports, on an average, 13,800 prescriptions were filled in each of the months, of which 45% were first time authorized prescriptions.
The company managed to earn $2.3 million in the last two months, out of which $1.4 million revenues were generated in May alone. In terms of filling of prescriptions, Progressive Care Inc (OTCMKTS:RXMD) grew at an excellent rate of 28%; however, revenue wise it managed to grow at a higher rate of 30% YOY.
Growth Drivers That Worked For Progressive Care:
The maximum credit for this exponential growth goes to the swift development of development of the compounded medication segment. It’s the only department in the company that focuses on producing drugs that are high priced and also offer high margins compared to the traditional products in the pharmacy industry. However, the market conditions for compounded medications are changing at a fast pace leaving no other option for the company but to improvise with time.
There are a lot of hurdles in the pharmacy industry, yet the management team of the company is committed to taking Progressive Care and PharmaCo to newer heights in the coming days. According to Shital Parikh Mars, COO, Progressive Growth, it’s been a great year so far, and things look good for the remaining months as well. The company is on a verge to earn over $1 million in revenues month after month, and the sole focus of its management is to achieve higher numbers by the end of 2015.