TRxADE Health changes its name to Scienture Holdings

Trxade Health, Inc. (NASDAQ: MEDS), a leading health services IT company, and its wholly owned subsidiary Scienture, LLC revealed that Trxade has changed its name to Scienture Holdings, Inc. Now, the stock trades on the Nasdaq Stock Market under the new ticker symbol SCNX.

Scienture Holdings, through its subsidiaries Scienture and Integra Pharma Solutions, operates as a comprehensive pharmaceutical product company, offering specialty products to satisfy unmet market needs. Its products are in development across therapeutic areas and indications, serving different market segments and channels. Scienture Holdings will be led by Suren Ajjarapu, who has been serving Trxade as chief executive officer. Suren is also chairman of the board of directors.

In July this year, Trxade completed its business combination with Scienture in a $103-million deal. Under the all-stock transaction, the company acquired all of Scienture’s assets in exchange for shares of Trxade’s stock.

Scienture, LLC is a New York-based pharmaceutical company with strategic capabilities across R&D, manufacturing, sales & marketing, and commercial operations. Last month, Narasimhan Mani was appointed as Scienture’s president. Rahul Surana was promoted to executive vice president and chief operating officer of the company.

Integra Pharma Solutions is a pharmaceutical supplier with expertise in product distribution across all key healthcare markets including government organizations, hospitals, clinics, and independent pharmacies.