TYSONS CORNER, Va., May 5, 2014 (GLOBE NEWSWIRE) -- ScripsAmerica, Inc. (OTCBB:SCRC) today announced that its managed specialty pharmacy reported $958,234 in prescription sales during the month of April, representing a 94% increase in monthly revenue over March.
The specialty pharmacy, which focuses on compounding topical creams, has generated a total of $1,600,501 in sales since ScripsAmerica entered an agreement to manage its operations in exchange for a very significant percentage of its revenues in February. April's figures give the pharmacy an annual run rate of $11.5 million.
Bob Schneiderman, the Company's CEO, stated, "We are very pleased to report that ScripsAmerica's managed specialty pharmacy set a revenue record in April, nearly doubling its sales from March. This demonstrates significant rapid revenue growth and further, we believe that the Company has not nearly tapped the potential of this endeavor. There are several factors that we believe will drive steady revenue growth for this pharmacy."
"First, topical creams are experiencing growing demand as an effective alternative to pills that can be more easily ingested in higher doses than originally prescribed. Secondly, our pharmacy utilizes a new system to process prescriptions that have greatly increased its efficiency, sales, profitability, etc. Finally, under our management, the specialty pharmacy has applied for licensing in additional states, which will enable continued growth in both our revenues and profits from this operation," continued 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.