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NOTE 14 – BUSINESS CONCENTRATIONS
6 Months Ended
Jun. 30, 2020
Risks and Uncertainties [Abstract]  
NOTE 14 – BUSINESS CONCENTRATIONS

NOTE 14 – BUSINESS CONCENTRATIONS

 

We purchase our prescription products from several suppliers with approximately 18%, 36% and 39% of our purchases supplied by three vendors each, respectively, during the six months ended June 30, 2020, and 14%, 18%, 31% and 37% of our purchases supplied by four vendors each, respectively, during the six months ended June 30, 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 six months ended June 30, 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 six months ended June 30, 2020. During the six months ended June 30, 2019, three customers each generated more than 10% of our prescription revenues. Revenue generated from the three customers combined accounted for approximately 60% of our prescription revenue for the six months ended June 30, 2019.

 

During the six months ended June 30, 2020, Pillpack, Inc. accounted for approximately $5,707,000 of our prescription revenue, Cardinal Health accounted for approximately $3,772,000 of our prescription revenue, McKesson Corporation accounted for approximately $3,356,000 of our prescription revenue, and Pharmacy Innovation PA accounted for approximately $3,178,000 of our prescription revenue. During the six months ended June 30, 2019, Pillpack, Inc. accounted for approximately $3,615,000 of our prescription revenue, AmerisourceBergen accounted for approximately $1,365,000 of our prescription revenue and Cardinal Health accounted for approximately $1,048,000 of our prescription revenue.