PHARMAGEN, INC. (SNPK) - Description of business
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Sunpeaks Ventures, Inc ("Sunpeaks"), and wholly owned subsidiary Healthcare Distribution Specialists, LLC ("HDS"), is a nationally focused, value-added distributor of specialty drugs and over-the-counter ("OTC") branded multivitamins to the healthcare provider market. According to the Healthcare Distribution Management Association, about 85% of all prescription medications are sold through healthcare distributors in the United States, which amounts to $248 billion in revenue. Currently, HDS serves the secondary segment of the specialty drug market, estimated by management to be a $30 billion market segment. HDS currently functions as a just-in-time source of supply for hospitals for those products that are hard-to-find due to drug manufacturers' production shortages.