AmexDrug Corporation (OTCBB: AXRX), a vertically integrated pharmaceutical and cosmeceutical company, today announced second quarter 2009 financial results. "Our second quarter and months earlier this year showcase the most significant developments since the company's inception," commented Jack Amin, President and CEO of AmexDrug Corp.
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Second Quarter 2009 Highlights: Revenues increased 65.7% year-over-year to a record of $2.43 million; Gross profit increased $256,928, compared to the second quarter of 2008, representing a gross margin increase of 209.3%; Costs of Goods Sold increased 57.1% year-over-year to a record of $2.17 million; Expenses increased 22.0% year-to-year to a record of $115,493. Net income was up to $79,159, a significant increase from the prior year largely attributed to the increase in sales. CEO Amin continued, "AmexDrug Corporation is expanding. Our profits are increasing. And our cultivated company culture is attracting the best talent in the country." "With our latest expansion into Asia Pacific, our affiliated network offices are fine-tuned and expected to increase revenues moving into 2010."
AmexDrug Corp. is a vertically integrated pharmaceutical and cosmeceutical company. With its subsidiaries BioRx Pharmaceuticals, Dermagen, Inc., and Allied Med, Inc., AmexDrug Corp. develops, manufactures, markets, and distributes private-label over-the-counter pharmaceuticals, innovative skin care products and prescription packaging to the nation's largest wholesalers and distributors. In addition, the company distributes prescription drugs to independent pharmacies. AmexDrug Corp. has an experienced executive team, advanced manufacturing facility and broad distribution network, allowing the company to integrate various phases of operations into one efficient business entity.
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