TYSONS CORNER, Va., Aug. 15, 2013 (GLOBE NEWSWIRE) -- ScripsAmerica Inc. (OTCBB: SCRC ), a supplier of prescription, OTC and nutraceutical drugs, today announced that the Company has agreed to a joint venture agreement (JV) with WholesaleRx Inc., a pharmaceutical distributor headquartered in Memphis, Tennessee.
Through the JV, ScripsAmerica will begin generating immediate revenue by providing WholesaleRx's client base of independent pharmacies with prescription and OTC drugs through bulk orders. ScripsAmerica has already received and processed $12,314 in orders during the first day of the agreement and anticipates this amount will continue to increase as distribution ramps up and the relationship matures moving forward.
"This joint venture is very exciting for ScripsAmerica because it will generate immediate revenue as well as strengthen our pharmaceutical distribution network which has become a very profitable part of our business. Our new relationship with WholesaleRx, in addition to our recent agreement with a GPO network including up to 700 pharmacies, mark a very successful beginning to our 'Independent Pharmacy Distribution' model that has already increased shareholder value. We expect to continue our aggressive revenue growth in this market moving forward," commented Bob Schneiderman, the Company's CEO.
WholesaleRx, LLC is a successful pharmaceutical distributor built on high quality, low prices and outstanding customer service. The company offers a full line of pharmaceuticals at the most reasonable prices to independent pharmacies, providing them with higher satisfaction, savings and profits. For more information, visit www.wholesalerx.co .
About ScripsAmerica, Inc.
ScripsAmerica, Inc. delivers 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 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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