BEVERLY HILLS, CA--(Marketwire - September 08, 2009) - AmexDrug Corporation (OTCBB: AXRX), a
vertically integrated pharmaceutical and cosmeceutical company, today
announced second quarter 2009 financial results.
"Our second quarter and months earlier this year showcase the most
significant developments since the company's inception," said Jack Amin,
President and CEO of AmexDrug Corp.
Second Quarter 2009 Highlights:
-- Revenues increased 65.7% year-over-year to a record of $2.43 million.
-- Gross profit increased $256,928, compared to the second quarter of 2008,
representing a gross margin increase of 209.3%.
-- Costs of Goods Sold increased 57.1% year-over-year to a record of $2.17
-- Expenses increased 22.0% year-to-year to a record of $115,493.
-- Net income was up to $79,159, a significant increase from the prior year
largely attributed to the increase in sales.
"AmexDrug Corporation is expanding. Our profits are increasing. And our
cultivated company culture is attracting the best talent in the country,"
said Amin. "With our latest expansion into Asia Pacific, our affiliated
network offices are fine-tuned and expected to increase revenues moving
About AmexDrug Corporation (OTCBB: AXRX):
AmexDrug Corp. is a vertically integrated pharmaceutical and cosmeceutical
company. With its subsidiaries BioRx Pharmaceuticals, Dermagen, Inc., and
Allied Med, Inc., AmexDrug Corp. develops, manufactures, markets, and
distributes private-label over-the-counter pharmaceuticals, innovative skin
care products and prescription packaging to the nation's largest
wholesalers and distributors. In addition, the company distributes
prescription drugs to independent pharmacies. AmexDrug Corp. has an
experienced executive team, advanced manufacturing facility and broad
distribution network, allowing the company to integrate various phases of
operations into one efficient business entity. For more information about
AmexDrug Corp., please visit www.amexdrug.com.
Safe Harbor Statement:
Except for historical information contained herein, the matters set forth
above may be forward-looking statements that involve certain risks and
uncertainties that could cause actual results to differ from those in the
forward-looking statements. Such forward-looking statements are based on
the current beliefs of management, as well as assumptions made by and
information currently available to management. Actual results could differ
materially from those contemplated by the forward-looking statements as a
result of certain factors such as the level of business and consumer
spending, economic conditions in the industry and the financial strength of
the company's customers and suppliers. The company does not undertake any
obligation to update such forward-looking statements. Investors are also
directed to consider all other risks and uncertainties.