The vaccine is now a defining part of the world economy, with Evercore analysts predicting the first round of vaccinations (ie, those taking place this year before adjustments to new variants) will add up to about $140 billion in sales in the US.
Stocks related to this theme make up a high interest group that includes Pfizer Inc (NYSE:PFE), Moderna Inc (NASDAQ:MRNA), AstraZeneca plc (NASDAQ:AZN), Novavax Inc (NASDAQ:NVAX), Walgreens Boots Alliance Inc (NASDAQ:WBA), CVS Health Corp (NYSE:CVS), and Rite Aid Corporation (NYSE:RAD).
Aside from the vaccine producers, the distribution food chain is active, and gaining a piece of the action is a major objective for anyone and everyone in the pharmacy space.
However, many pharmacy players haven’t been able to secure a vaccine supply for sale. The line is long, and supplies are limited.
Given that backdrop, Progressive Care Inc (OTCMKTS:RXMD) may gain some special interest today as it begins to ramp up its vaccination operations, which will join its extensive rapid results testing service and its emerging digital vaccine passports platform, creating one of the most comprehensive Covid-19 platforms going.
In the Game
Specifically, RXMD announced this morning that it has gained access to a large inventory of Moderna vaccine doses and will begin immediate distribution to PharmCo customers through both in-store and on-location vaccinations.
According to the release, the company’s initial tranche of vaccine doses represents enough to fully vaccinate 2,000 people. We would also note that more is likely on the way based on the sentiment expressed in the release, with management stating that it believes it will gain access to additional vaccine doses following the exhaustion of this initial supply.
“We have secured a large initial supply of vaccine doses and we feel confident we will now move forward as an important source of immune protection for residents in our communities,” commented Alan Jay Weisberg, CEO and Chairman of Progressive Care. “This will allow Progressive Care to serve an important role in providing critical immune protection for the people who depend on us, especially those in traditionally underserved communities.”
Progressive Care Inc. (OTCMKTS:RXMD) also noted that it plans to play a big role in helping to educate its customers and the residents of its surrounding communities on the safety, importance, and value of vaccinations that protect against Covid-19.
Complementary Parts: Testing, Vaccinations, and Passports
Being a leading player in the business of saving the world from Covid-19 won’t be new to RXMD. The company has been and will likely continue to be a leader in administering Covid-19 rapid results testing and it is also working toward a leadership role in vaccine passports.
In the former case, the company announced earlier this month that it had surpassed $1 million in revenues directly driven by its COVID-19 testing program.
“We are truly grateful for the opportunity to be a part of the solution and help our community confront what promises to be a long-term battle with the virus, an elusive and formidable adversary,” commented CEO Weisberg.
Specifically, according to its release, the company conducted over 4,700 COVID-19 tests in 2020, driving $599k in revenues. For the three months ended March 31, 2020, the revenue run rate associated with COVID-19 testing has accelerated, with approximately 2,900 tests, resulting in over $400k in revenues related to testing.
That puts it at about $1M in sales so far just on testing alone.
In the latter case, the company also recently announced a partnership with EagleForce Health, LLC to integrate its proprietary telehealth platform (“myVax”) and develop a platform for the Company’s Digital Passport for COVID-19 Testing and Vaccination results.
According to that release, the myVax platform will manage an individual’s COVID-19 Vaccine and Test Journey documenting all transitions, including healthcare appointments, billing, and telehealth services. This will also include a Digital Passport or Digital Wallet that is QR-coded for registration, verification, and documentation of COVID-19 vaccination and/or test results.
DISCLAIMER: EDM Media LLC (EDM), is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. EDM is NOT affiliated in any manner with any company mentioned herein. EDM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. EDM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. EDM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed EDM has been compensated seven hundred fifty dollars for news coverage of the current press releases issued by Progressive Care Inc (OTCMKTS:RXMD) by a third party.
EDM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and EDM undertakes no obligation to update such statements.
EDM Media LLC