TAMPA, Fla., Feb. 09, 2016 (GLOBE NEWSWIRE) -- Trxade Group, Inc. (OTCQB:TRXD), a web-based pharmaceutical marketplace engaged in promoting and enabling trade among independent pharmacies and large pharmaceutical suppliers nationally, today announced that its wholly-owned subsidiary, Westminster Pharmaceuticals LLC (“Westminster”), has launched the generic drug HCTZ (Hydrochlorothiazide) as part of an agreement with ScieGen Pharmaceuticals, Inc. ScieGen’s ANDA Number 203018 for Hydrochlorothiazide treats fluid retention (edema) in people with congestive heart failure, cirrhosis of the liver, kidney disorders, or edema caused by taking steroids or estrogen. This medication, which is also used to treat high blood pressure (hypertension), will be marketed under the Westminster Pharmaceuticals, LLC private label. Under the terms of the supply and distribution agreement with ScieGen, Westminster will semi-exclusively market and distribute ScieGen’s product in the United States.
“As the challenge of treating conditions that result in edema continues to increase, it is essential that patients and healthcare practitioners have access to potent agents with the proven ability to resolve these often difficult-to-treat pathologies. With this in mind, we are pleased that the U.S. healthcare community will now have access to one of the industry’s most potent diuretics for the treatment of edema in patients with conditions ranging from congestive heart failure to hypertension,” said Suren Ajjarapu, Chairman and Chief Executive Officer of Trxade Group, Inc.
“Further, this launch represents an important milestone in the strategic expansion and increasing brand recognition of Westminster Pharmaceuticals, our wholly-owned subsidiary. We believe that 2016 will represent a new era of growth and expansion for Trxade Group and its shareholders driven primarily by these new distribution agreements as well as the continued expansion of the number of pharmacies in our trading platform, which recently surpassed 5,000 members,” concluded Mr. Ajjarapu.
About ScieGen Pharmaceuticals
ScieGen Pharmaceuticals, Inc. is a fast growing generic pharmaceutical company located in Hauppauge, New York. ScieGen’s core business is in the areas of Development, Manufacturing, Marketing and Distribution of high quality and cost effective generic pharmaceutical products. ScieGen has a robust product development pipeline with multiple ANDAs filed with the FDA. ScieGen aims to provide healthcare at economical prices to make this a healthier world to live in. Additional information regarding ScieGen can be found on their website at www.sciegenpharm.com.
About Trxade Group, Inc.
Headquartered in Tampa, Florida, Trxade Group, Inc. (OTCQB:TRXD) is a web based market platform that enables trade among healthcare buyers and sellers of pharmaceuticals, accessories and services. Founded in 2010, Trxade Group currently operates the trading platform with over 5,000 registered members. Trxade Group distributes private label pharmaceuticals through their 100%-owned subsidiary Westminster Pharmaceuticals, LLC. For additional information please visit us at www.trxadegroup.com.
Trxade Group Inc.’s wholly-owned subsidiary Westminster Pharmaceuticals, LLC. is an integrated pharmaceutical distribution company. The Company is engaged in the marketing and distribution of generic private label pharmaceuticals in the United States and Puerto Rico.
Disclaimer & Forward-Looking Statements
The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. Except as may be required by applicable law, we assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
Media Contact: Carol Lucas (800) 261-0281 carol@trxade.com Investor and Analyst Contact: Howard Doss (941) 228-0162 hdoss@trxade.com Investor Relations: Investor Relations Partners Max Pashman 818-280-6800 mpashman@irpartnersinc.com