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NOTE 14 – BUSINESS CONCENTRATIONS
3 Months Ended
Mar. 31, 2020
Risks and Uncertainties [Abstract]  
NOTE 14 – BUSINESS CONCENTRATIONS

NOTE 14 – BUSINESS CONCENTRATIONS

 

We purchase our prescription products from several suppliers with approximately 32%, 28%, 24% and 13% of our purchases supplied by four vendors each, respectively, during the three months ended March 31, 2020 and 33%, 29%, 27% and 11% of our purchases supplied by four vendors each, respectively, during the three months ended March 31, 2019.

 

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 the three months ended March 31, 2020, four customers each accounted for more than 10% of our total prescription revenues. Prescription revenue from the four customers combined accounted for approximately 70% of our prescription revenue for the three months ended March 31, 2020. During the three months ended March 31, 2019, five customers each generated more than 10% of our prescription revenues. Revenue generated from the five customers combined accounted for approximately 83% of our prescription revenue for the three months ended March 31, 2019.

 

During the three months ended March 31, 2020, Pillpack, Inc. accounted for approximately $3,199,000 of our prescription revenue, McKesson Corporation accounted for approximately $2,259,000 of our prescription revenue, Cardinal Health accounted for approximately $1,886,000 of our prescription revenue and Pharmacy Innovation PA accounted for approximately $1,234,000 of our prescription revenue. During the three months ended March 31, 2019, PI Services accounted for approximately $967,000 of our prescription revenue, AmerisourceBergen accounted for approximately $787,000 of our prescription revenue, Pillpack, Inc. accounted for approximately $534,000 of our prescription revenue, Cardinal Health accounted for approximately $525,000 of our prescription revenue and McKesson Corporation accounted for approximately $457,000 of our prescription revenue.