Benzinga | May 4, 2021 10:57AM EDT

Exclusive: Trxade Group CEO TalksCompany Outlook On 'Power Hour'

CEO of Trxade Group Inc (NASDAQ:MEDS) Suren Ajjarapu appeared on Benzinga's YouTube show "Power Hour" for an exclusive interview Monday.

The pharmaceutical industry total addressable market is expected to reach $685 billion by 2023, Ajjarapu said, adding that the company has zero debt and about $6.5 million in cash.

Trxade Group focuses on empowering independent pharmacies, the CEO said. The company provides technology for vaccination scheduling and gives individuals the ability to easily verify results of a COVID-19 test, he said adding that Trxade Group has more than 12,000 members.

The application is in beta testing, and Ajjarapu said he expects the official launch of the app to occur in June.

The company has been "under the radar" for a while, he said.

The Trxade Group has been public on OTC markets since 2014 and uplisted to the Nasdaq last year, the CEO said.

Trxade Group's capital structure and diversified sources of revenue are key differentiators for the company, Ajjarapu said, adding that the company offers significant potential for return on investment.

Related Link: Return On Capital Employed Overview: Trxade Group

MEDS Price Action: Trxade Group has traded as high as $8.25 and as low as $4.02 over a 52-week period.

The stock was down 0.83% at $4.05 at last check Tuesday.

Image by Parentingupstream from Pixabay.