New Castle, DE - ScripsAmerica Inc. (OTCBB: SCRC), a leading supplier of prescription, OTC and nutraceutical drugs, today announced that the Company achieved record revenues for the month of January 2013.
ScripsAmerica recorded $904,275 in revenue for the past month, which marks the Company’s highest monthly revenue to date and a 116% increase over January 2012. The Company attributes its increase in revenue primarily to the government contract entered into by Marlex Pharmaceuticals, a pharmaceutical supplier and packager, which it has signed a letter of intent to acquire.
Marlex secured an 8-year, up to $79 million pharmaceutical distribution contract with the Office of Health Affairs, a branch of the U.S. Department of Homeland Security, in conjunction with the Defense Logistics Agency (DLA) in September of last year. The contract calls for a minimum purchase amount of $25 million over the next 3 years, which Marlex is on pace to meet or exceed based on production during the initial three months of its contract.
ScripsAmerica's Chief Financial Officer, Jeffrey Andrews, stated, “ScripsAmerica is very pleased to announce record monthly revenues for January. Our growth in sales can be mainly attributed to Marlex’s government contract, which has gotten off to a very successful start. We are comfortable with our 2013 projections and could see a record year in revenue due not only to Marlex’s government contract but the anticipated launch of our RapiMed® children’s pain and fever reliever and other growth drivers.”
About ScripsAmerica Inc.
ScripsAmerica, Inc. delivers pharmaceutical products to a wide range of end users across the health care industry through the largest pharmaceutical distributor in North America, McKesson Corporation. End users include retail pharmacies, hospitals, long-term care facilities and government and home care agencies. Current therapeutic categories serviced by the Company include pain, arthritis, prenatal, urinary, and hormonal replacement drugs. Other customers of ScripsAmerica include Cardinal Health, CutisPharma, Inc., MedVet and the United States Veterans Administration.
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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