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Trxade Group Signs Agreement to Distribute Glaucoma Drug in U.S.

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/

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. The company undertakes no duty to update forward-looking statements.

CONTACT: Investor Relations Contact: Max Pashman Phone: 818-280-6800 mpashman@irpartnersinc.com

Source:Trxade Group, Inc.