TYSONS CORNER, Va., Oct. 16, 2013 (GLOBE NEWSWIRE) -- ScripsAmerica, Inc. (OTCBB:SCRC), today announced that the Company has received and processed $125,208 in orders during September, the second month of its joint venture.
The Company nearly doubled its revenue of $63,024 recorded in August, which marked the beginning of its pharmaceutical distribution agreement. September's revenue puts ScripsAmerica at a run rate of over $1.5 million in annual revenue from this joint venture alone. Management anticipates significant growth in this area of the business where ScripsAmerica has partnered with pharmaceutical distributors to provide wholesale prescription and OTC drugs to their network of independent pharmacies.
"We are very pleased to report such rapid and aggressive revenue growth to our shareholders, marking a tremendous beginning to our joint venture. The fact that our orders doubled from the first to second month, putting the Company on a run rate of over $1.5 million for this agreement alone, shows the potential for ScripsAmerica to generate multimillion dollar revenues in the wholesale pharmaceutical distribution space. As a result, this area of our business is where management will be focusing a large portion of its growth efforts in the coming quarters," commented ScripsAmerica's CEO, Bob Schneiderman.
About ScripsAmerica, Inc.
ScripsAmerica, Inc. is a supplier of prescription, OTC and nutraceutical drugs, delivering pharmaceutical products to a wide range of end users across the health care industry. End users include retail pharmacies, hospitals, long-term care facilities and government and home care agencies. For more information, visit www.ScripsAmerica.com.
Safe Harbor Statement
This release includes forward-looking statements, which are based on certain assumptions and reflects management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions, sector changes and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, including codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.