DermSource Debuts with over $3 Million in Dermatology Product Sales;
In First 4 Months Alone New-Wave GPO Sold 65,000 Dermatology Products to
200+ Local Pharmacies Across 15 States
Supports Pharmacies by Negotiating Prices 30-50 Percent Below
NEW YORK–(BUSINESS WIRE)–A former independent pharmacist who foresaw the industry’s looming
extinction due to skyrocketing drug acquisition costs and declining
reimbursements has launched a new business he believes will help
mom-and-pop pharmacy owners survive.
a group purchasing organization (GPO) serving pharmacies with a
purchasing platform for discounted prescription dermatology products,
debuted with over $3 million in sales, 1,500 orders and more than 65,000
dermatology products in the first four months alone.
As a GPO, DermSource negotiates with manufacturers, wholesalers, and
distributors on behalf of neighborhood pharmacies—arranging for broader
access to sought-after dermatology products and at prices 30-50 percent
below its GPO competitors.
With the guarantee of a fair and transparent deal, DermSource retains a
profit margin of no more than 3 percent per transaction, ensuring that
the immense savings retained through its program are passed along to
pharmacies and their patients.
Launched November 2018, DermSource has already enrolled 200+ pharmacies
across fifteen states, with new members enrolling every day. Free to
join, the program is available to independent pharmacies nationwide.
“Neighborhood pharmacies are under attack from all sides,” said
DermSource Founder and CEO Yuriy Davydov. “Wholesalers and GPOs are
perpetually overcharging them to acquire prescription drugs, while
pharmacy benefit managers are reimbursing pharmacies at rates below
acquisition cost. It’s preposterous. These underregulated and
intentionally obfuscated processes are literally destroying neighborhood
Davydov closed his own pharmacy in Queens, NY, three years ago. He since
shifted his efforts toward helping local pharmacies reclaim their
collective buying power within the complex and byzantine U.S. healthcare
He noted that with a dermatology market valued at $12 billion annually,
DermSource has room to grow substantially while also helping
neighborhood pharmacies continue to serve their communities.
To date DermSource has enrolled pharmacies in Arkansas, Arizona,
California, Colorado, Connecticut, Michigan, Missouri, New Jersey, New
York, Ohio, Pennsylvania, Tennessee, Texas, Utah, Virginia. Dozens of
pharmacies in additional states are expected to enroll over the next few
committed to helping pharmacies gain wider and more consistent access to
dermatology products and at prices that better serve their patients,”
Davydov said. “Our overriding goal is to improve healthcare outcomes
while helping neighborhood pharmacies make a modest profit for their
underappreciated role as healthcare practitioners.”
Pharmacies in all 50 states are invited to sign up for a free DermSource
membership at www.DermSource.com.
is a dermatology GPO serving pharmacies across the nation with a
purchasing platform for discounted dermatology products. Working with
VAWD accredited wholesalers and distributors, DermSource negotiates
on behalf of the pharmacy for competitive prices and availability of
sought-after dermatology products. With the guarantee of a fair and
transparent deal, DermSource retains
a profit margin of no more than 3%. As a progressive organization DermSource is
armed with a mission to help improve the healthcare industry and
recognizes that helping independent pharmacies helps the consumer
receive treatment, delivering improved healthcare outcomes. Membership
is free to pharmacies in all 50 states. Visit www.DermSource.com #TruthinPricing