TYSONS CORNER, Va., Dec. 19, 2013 (GLOBE NEWSWIRE) -- ScripsAmerica Inc. (OTCBB:SCRC), today announced that the Company has received and processed a record high $51,920 in orders during the week ending December 13, 2013 and $84,821 in orders for the first two weeks of the month from its recent pharmaceutical distribution joint venture ("JV").
Revenue from the first two weeks of December from ScripsAmerica's JV whereby the Company supplies wholesale prescription drugs to a large network of independent pharmacies, puts it on pace to top all previous months since the beginning of the JV in August of this year. The JV remains on a run rate between $1.4 and $1.5 million for ScripsAmerica, which expects its monthly revenue to continue its growth into 2014.
"We are very excited to see the wholesale pharmaceutical distribution piece of ScripsAmerica's business model continuing to demonstrate consistent and sizeable growth heading into 2014. While sales will likely slow down over the last two weeks of the year due to the holidays, as of now, our joint venture is on a record pace for revenue so far in December and would generate over $169,000 for the month at its current pace," stated CEO of ScripsAmerica, Bob Schneiderman.
"This figure would mark a 31% increase over our highest grossing month so far, confirming our our projections of continued growth and strength in this area of our business. 2014 is set to be a very exciting time for ScripsAmerica and its shareholders as we continue growth not only in pharmaceutical distribution through this JV and our recent equity position in WholesaleRx but we expect to launch our RapiMed product in China as well as ramp up our revenues from PIMD International," Schneiderman continued.
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.