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BUSINESS CONCENTRATIONS
12 Months Ended
Dec. 31, 2019
Risks and Uncertainties [Abstract]  
BUSINESS CONCENTRATIONS

NOTE 12 – BUSINESS CONCENTRATIONS

 

We purchase our prescription products from several suppliers with approximately 24%, 27% and 35% of our purchases supplied by three vendors each, respectively, during the year ended December 31, 2019, 43%, 33% and 24% of our purchases supplied by three vendors each, respectively, during the year ended December 31, 2018, and 100% of our purchases supplied by one vendor for the year ended December 31, 2017.

 

We sell our prescription products to wholesale distributors, specialty pharmacies, specialty distributors, and chain drug stores that generally sell products to retail pharmacies, hospitals, and other institutional customers. During each of the years ended December 31, 2019, 2018 and 2017, four customers each accounted for more than 10% of our total prescription revenues. Prescription revenue from the four customers combined accounted for approximately 73%, 76%, and 59% of our prescription revenue for the years ended December 31, 2019, 2018 and 2017, respectively.

 

During the year ended December 31, 2019, McKesson Corporation accounted for approximately $3,911,000 of our prescription revenue, Pillpack, Inc. accounted for approximately $12,676,000 of our prescription revenue, AmerisourceBergen accounted for approximately $3,927,000 of our prescription revenue and Cardinal Health accounted for approximately $4,551,000 of our prescription revenue.  During the year ended December 31, 2018, McKesson Corporation accounted for approximately $1,610,000 of our prescription revenue, Pillpack, Inc. accounted for approximately $5,075,000 of our prescription revenue, AmerisourceBergen accounted for approximately $3,246,000 of our prescription revenue and Cardinal Health accounted for approximately $2,308,000 of our prescription revenue. During the year ended December 31, 2017, AmerisourceBergen accounted for approximately $2,667,000 of our prescription revenue; McKesson Corporation accounted for approximately $1,959,000 of our prescription revenue; Cardinal Health accounted for approximately $2,559,000 of our prescription revenue and Pharmacy Innovations PA accounted for approximately $2,715,000 of our prescription revenue.