Welcome to our dedicated page for Progressive Care news (Ticker: RXMD), a resource for investors and traders seeking the latest updates and insights on Progressive Care stock.
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Progressive Care Inc. (OTCQB: RXMD) has opened a new 3,700 square foot pharmacy in Orlando, enhancing its service offerings including rapid Covid-19 testing and vaccinations. This state-of-the-art facility is positioned near Orlando International Airport to cater to travelers requiring testing before departure. CEO Alan Jay Weisberg highlighted that this expansion will significantly impact their core pharmacy and 340B operations, paving the way for substantial growth in the Orlando market.
Progressive Care Inc. (OTCQB: RXMD) has launched an extensive expansion of its COVID-19 testing services under FDA Emergency Use Authorization. The company plans to offer rapid antigen tests with results in 15 minutes, revealing fewer than 2% false negatives and 1% false positives. The initial order includes over 700 tests, and management reports a strong demand, especially in the Miami area. The company aims to enhance its market position as testing becomes crucial with the upcoming flu season and potential COVID-19 resurgence.
Progressive Care Inc. (OTCQB: RXMD) reported August 2020 operational performance with total gross sales of $3.56 million, a 6% decrease compared to August 2019. The company filled 45,452 prescriptions, down 4% year-over-year. Notably, 340B claim submissions surged 444% to $2.77 million, yielding approximately $458K in revenue. The drop in new prescriptions was attributed to a resurgence in Covid-19 impacting patient visits, particularly in the Orlando area. Management anticipates potential growth driven by seasonal demand and enhanced provider relationships.