PharmcoRx Pharmacy Launches Mark Cuban Cost Plus Drug Program Expanding Its In-Pharmacy Offerings

Rhea-AI Summary

PharmcoRx Pharmacy, a subsidiary of Progressive Care Inc (RXMD), expands in-pharmacy offerings through a partnership with the Mark Cuban Cost Plus Drug Company, offering patients access to low-cost generic and branded medications. The agreement includes PharmcoRx locations being listed as participating pharmacies in the Team Cuban Card provider directory, providing consumers with increased access to medications at reduced costs.

Positive

• Expansion of in-pharmacy offerings through the partnership with MCCPDC can potentially increase revenue for PharmcoRx Pharmacy.
• The inclusion in the Team Cuban Card provider network allows PharmcoRx to reach a wider customer base and expand its pharmacy service offerings.
• The partnership with MCCPDC aligns with Progressive Care's mission to make positive contributions to the health of its customers.

Negative

• None.

MIAMI, Nov. 27, 2023 /PRNewswire/ -- PharmcoRx Pharmacy, a wholly-owned subsidiary of Progressive Care Inc (OTCQB:RXMD), today announced its expansion of in-pharmacy offerings through an agreement with the Mark Cuban Cost Plus Drug Company ("Cost Plus Drugs"). The Cost Plus Drugs program allows participating patients the ability to purchase generic and branded medicines at their cost plus a low fixed markup.

The Mark Cuban Cost Plus Drug Company ("MCCPDC") offers more than 1,000 drugs at their actual acquisition cost plus a transparent 15% markup. MCCPDC recently launched the Team Cuban Card, a free prescription benefit program for consumers providing them with access to low-cost medications throughout the country.

Through its agreement with MCCPDC, PharmcoRx locations will be listed as participating pharmacies in the Team Cuban Card provider directory and will actively market the acceptance of the program to its existing customer base as well as in its network of local clinics and healthcare practices.

Pamela Roberts, Chief Operating Officer of Progressive Care, commented, "Through our inclusion in the Team Cuban Card provider network, we are quickly able to expand our PharmcoRx pharmacy offerings by providing consumers with increased access to medications at a significantly reduced cost. By partnering with organizations such as the Mark Cuban Cost Plus Drug Company and our ongoing initiatives to expand our pharmacy service offerings and reach, we are continuing our mission to make positive contributions to the health of our customers."

"Team Cuban Card users love the convenience of getting their prescriptions locally, same-day, at the same low prices they've come to expect from Cost Plus Drugs," said Dr. Alex Oshmyansky, co-founder and CEO of Cost Plus Drugs. "We're excited to add PharmcoRx as an option for consumers."

About PharmcoRx Pharmacy

Progressive Care Inc. (OTCQB: RXMD) through its subsidiaries, is a Florida health services organization and provider of Third-Party Administration (TPA), data management, COVID-19 related diagnostics and vaccinations, 340B contracted pharmacy services, prescription pharmaceuticals, compounded medications, provider of tele-pharmacy services, the sale of anti-retroviral medications, medication therapy management (MTM), the supply of prescription medications to long-term care facilities, and health practice risk management. Progressive Care, Inc. became a subsidiary of NextPlat Corp. (NASDAQ: NXPL & NXPLW) on July 1, 2023.

Forward-Looking Statements

Forward-Looking Statements contained herein that are not based upon current or historical fact are forward-looking in nature and constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements reflect the Company's expectations about its future operating results, performance, and opportunities that involve substantial risks and uncertainties. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties, and other factors that could cause the Company's actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements.

Investor Contact for Progressive Care Inc.:
Michael Glickman
MWGCO, Inc.
917-397-2272
mike@mwgco.net

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SOURCE Progressive Care, Inc.

FAQ

What is the expansion announced by PharmcoRx Pharmacy, a subsidiary of Progressive Care Inc (RXMD)?

PharmcoRx Pharmacy announced its expansion of in-pharmacy offerings through a partnership with the Mark Cuban Cost Plus Drug Company, offering patients access to low-cost generic and branded medications.

What is the Mark Cuban Cost Plus Drug Company's program and how does it benefit patients?

The Mark Cuban Cost Plus Drug Company program allows patients to purchase generic and branded medicines at their cost plus a low fixed markup. It offers more than 1,000 drugs at their actual acquisition cost plus a transparent 15% markup, providing access to low-cost medications throughout the country through the Team Cuban Card.

How will PharmcoRx locations benefit from the agreement with MCCPDC?

PharmcoRx locations will be listed as participating pharmacies in the Team Cuban Card provider directory and will actively market the acceptance of the program to its existing customer base and in its network of local clinics and healthcare practices.

Who commented on the expansion of PharmcoRx Pharmacy's offerings?

Pamela Roberts, Chief Operating Officer of Progressive Care, commented on the expansion, highlighting the mission to make positive contributions to the health of customers through increased access to medications at reduced costs.

What did Dr. Alex Oshmyansky, co-founder and CEO of Cost Plus Drugs, say about adding PharmcoRx as an option for consumers?

Dr. Alex Oshmyansky expressed excitement about adding PharmcoRx as an option for consumers, emphasizing the convenience of getting prescriptions locally at low prices.