Shares of American International Holdings Corp (OTCMKTS:AMIH) closed sharply higher in the previous session.
Market Reaction
On Monday, AMIH stock soared 12.12% to $0.0740 with 86k shares, compared to its average volume of 394k shares. The stock moved within a range of $0.0670 – 0.0764 after opening trade at $0.0670.
American International Holdings Corp. Launches EPIQ Scripts Online Mail-Order Pharmacy
Diversified holding company developing, acquiring, and operating tech-based health and wellness companies, American International Holdings Corp (OTCMKTS:AMIH) on February 15, 2022, announced the launch of EPIQ Scripts, LLC. EPIQ is an online mail-order pharmacy with a target to serve patients through the surging telemedicine companies foraying into the market.
EPIQ Scripts will be focusing on efforts to obtain licenses as well as accreditations in key states. It finally aims to secure licenses across all states in the United States. A report in July 202 All The Research estimated that the Global Online Pharmacy market was $68.2 billion in 2020. The report added that the market is estimated to reach $202.3 billion by 2027, a compounded annual growth rate of 16.8%.
The Research anticipates the growth of the online pharmacy due to a massive increase in the number of internet consumers as well as government support with favorable policies besides growing implementation of e-prescriptions in healthcare facilities.
The anticipated demand is enabling the company to plan market services to the surging number of telemedicine firms since 2020. A study by McKinsey & Company in April 2020 had estimated that the overall telehealth utilization for office visits as well as outpatient care was 78 times higher. The survey also found that 61% of Americans had made a telehealth appointment, a huge increase from just 19.5% a year before.
Jacob Cohen, President, and CEO of American International Holdings Corp said that the exponential surge in demand for telemedicine has created an unmet demand for pharmacies with the capacity to handle the prescription volumes generated by the platforms. Cohen added that EPIQ Scripts is having advanced API capabilities and infrastructure, which will enable it to position itself for capitalizing on the current market opportunity. Led by pharmacy and healthcare industry veterans, Sultan Haroon and Maja Matthews, the core team has over four decades of experience in healthcare and pharmacy operations and management.
Traders Review
AMIH stock is trading above the 20-Day and 50-Day Moving averages of $0.0662 and $0.0656 respectively. Moreover, the stock is trading above the 100-Day moving average of $0.0682.
