TAMPA, Fla., Nov. 30, 2015 (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 Brimonidine Tartrate Ophthalmic Solution 0.2% as part of an exclusive agreement with Indoco Remedies, LTD. (BSE Listed Ticker Symbol: INDOCO).
Brimonidine Tartrate Ophthalmic Solution 0.2% is indicated for lowering intraocular pressure in patients with open-angle glaucoma or ocular hypertension patients and will be marketed under the Westminster Pharmaceuticals, LLC brand. For the year ended December 31st, 2014, Brimonidine Tartrate Ophthalmic Solution 0.2% generated sales of approximately $6.8 million, according to IMS Health data.
Under the terms of the exclusive supply and distribution agreement, Indoco Remedies will manufacture and supply Westminster with all dosage strengths. Westminster will market and distribute the product under its own private label in the United States and begin its initial distribution during the current quarter. Under the terms of the agreement, Indoco will receive a share of the net profits from Westminster’s sales of the product. The agreement runs until the end of 2022.
About Indoco Remedies, LTD.
Indoco Remedies, LTD. is engaged in the manufacturing and marketing of Formulations (Finished Dosage Forms) and Active Pharmaceutical Ingredients (APIs) in India. Indoco has a strong international presence in the Regulated and Emerging markets. The Company is striving to place itself on a strong promising path by expanding its business strategically, strengthening its manufacturing facilities and enhancing capabilities across the organization. The Company is looking at various opportunities in untapped markets and association with business partners in the global markets to boost its revenues. http://www.indoco.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’s trading platform has grown to over 4,600 registered members. Trxade Group also distributes private label pharmaceuticals directly through their wholly-owned subsidiary Westminster Pharmaceuticals, an integrated pharmaceutical distribution company, to these registered members. For additional information please visit us at http://www.trxadegroup.com/
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CONTACT: Investor Relations Contact: Max Pashman Phone: 818-280-6800 mpashman@irpartnersinc.com
