TYSONS CORNER, Va., Nov. 4, 2013 (GLOBE NEWSWIRE) -- ScripsAmerica Inc. (OTCBB:SCRC), today announced that the Company has received and processed $129,794 in orders during October from its recent pharmaceutical distribution joint venture
("JV").
The JV has generated $318,026 in revenue since August resulting from ScripsAmerica providing independent pharmacies with wholesale prescription drugs. October's sales of over $129,000 keep ScripsAmerica on a run rate of over $1.5 million for the agreement, which produced $63,024 in revenue during its first month before doubling to $125,208 in September.
"The total revenue and incredible sales growth from this distribution agreement in its initial months has exceeded our expectations. Thanks to the expertise and hard work of our partner's COO and President of Sales, they're quickly growing into a major player in the pharmaceutical distribution industry. We are very pleased to announce such strong revenues from this joint venture to our shareholders and fully expect continued growth and success in this area of our business moving forward," commented Bob Schneiderman, ScripsAmerica's CEO.
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.
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