TYSONS CORNER, Va., Feb. 3, 2014 (GLOBE NEWSWIRE) -- ScripsAmerica, Inc. (OTCBB:SCRC) today announced that the Company has entered into a joint venture with Global Pharma Hub, an international pharmaceutical marketing and distribution company, to license, market and distribute its RapiMed® Children's pain reliever and fever reducer.
Global Pharma Hub has an exclusive license to market and distribute RapiMed® worldwide with the exception of the United States. Additionally, Global Pharma Hub has the ability enter sub-license agreements in the interest of market expansion and revenue generation for RapiMed® and has provided a sub-license to NYJJ, a Hong Kong-based company, to generate initial and ongoing orders for the product following its registration approval by the Hong Kong government. These agreements are the necessary final steps in securing the product's registration approval.
"We feel confident that Global Pharma Hub will quickly secure orders and facilitate the delivery of our RapiMed products in Hong Kong through their network. With this agreement we can hit the ground running and expect initial success and steady growth moving forward in the Asian market once we receive government approval. Following our launch in Hong Kong, we believe that Global Pharma Hub will continue to add tremendous value by expanding our worldwide market penetration with Scrips' current and future rapid melt technology products. This is a very exciting time for ScripsAmerica and its shareholders," stated Bob Schneiderman, ScripsAmerica's CEO.
Management of ScripsAmerica would like to reiterate to its shareholders that RapiMed® is an over-the-counter (OTC) medication, therefore does not require FDA approval in order to be sold in Hong Kong, China due to the fact that RapiMed®'s manufacturer is CGMP (Current Good Manufacturing Practices) certified. Because this is the case, RapiMed®'s manufacturer needs only to follow the monograph for the product's active ingredient.
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 .
