NEW CASTLE, Del., Aug. 6, 2012 (GLOBE NEWSWIRE) -- ScripsAmerica Inc. (OTCBB:SCRC), a leading supplier of prescription, OTC and nutraceutical drugs, is providing this update to shareholders regarding the Company's past progress and its current plans for the future.
ScripsAmerica is focused on efficient pharmaceutical supply chain management services, from strategic sourcing to delivering niche generic pharmaceuticals to market and is a national low-cost supplier and distributor of generic Rx, branded Rx, OTC, nutraceuticals, and oral delivery OTC pharmaceuticals. The Company has posted consistent sales growth since commencing operations in February 2010.
The company delivers pharmaceutical products to a wide range of end users across the health care industry, including physicians' offices, retail pharmacies, long-term care sites, hospitals, and Government and home care agencies through the largest pharmaceutical distributor in North America, McKesson Corporation. Current therapeutic categories serviced by the Company include pain, arthritis, prenatal, urinary, and hormonal replacement drugs. Other customers of ScripsAmerica include Cardinal Health, Curtis Pharmaceuticals, MedVet and the United States Veterans Administration.
The Company is in the process of expanding its operations by developing proprietary oral delivery technology consisting of rapidly dissolving drug formulations for Over The Counter (OTC) medicines.
Specifically, in 2010, ScripsAmerica entered into an exclusive product development and supply agreement with a developer of generic drug products for these rapidly dissolving medicines. ScripsAmerica is targeting the children's pain relief market with its RapiMed product line that utilizes its rapidly dissolving oral delivery technology. The Company anticipates its initial RapiMed product, currently in the research and development phase, will be available for distribution during the first quarter of 2013. ScripsAmerica has created a RapiMed product website, www.rapimeds.com.
ScripsAmerica is also exploring the development and approval of drugs under the Drug Efficacy Study Implementation (DESI) Program of the United States Food and Drug Administration (FDA).
"The US constitutes the largest market in the world for generic pharmaceuticals because of its aging population and ScripsAmerica is ideally suited to compete in the current environment by providing a low cost system of broad-based marketing, sales, and distribution capabilities for generics, branded pharmaceuticals, over the counter medicines, vitamins, and nutraceuticals. We have built strong relationships with local end users through a detailed understanding of, and demonstrated ability to serve their needs which has driven our continuous growth over the two years since our inception," commented Bob Schneiderman, CEO of ScripsAmerica.
"The company is at an inflection point, having just become publicly traded and we are very pleased to update our shareholders regarding our past success as well as our plans for continued growth. Moving forward, ScripsAmerica will be focusing heavily on increasing revenues and the continued development and distribution of our rapidly dissolving RapiMed products. We believe RapiMeds will have a tremendous positive impact on the market due to its patent-pending formulation that allows for much faster dissolving and absorption," continued Schneiderman.
For more information please 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.