TYSONS CORNER, Va., March 24, 2014 (GLOBE NEWSWIRE) -- ScripsAmerica Inc. (OTCBB:SCRC), a leading supplier of prescription, OTC and nutraceutical drugs, today announced that the Company's equity venture, Wholesale Rx "WRx," received and processed $313,904 in orders during the month of February.
Since ScripsAmerica's formed this equity venture six months ago, its monthly revenue has increased by 398%. WRx experienced 17% growth over the past month which increased its run rate from $3.2 to $3.8 million. February marked the third consecutive month that WRx has broken its revenue record, marking steady growth over the past quarter that began 2014.
CEO of ScripsAmerica, Bob Schneiderman, commented, "ScripsAmerica is now experiencing growth in several areas of our business making this a very exciting time for our shareholders. As the Company continues to expand into new markets, having recently entered into a management agreement with a compounding pharmacy and reported a sizeable initial order for RapiMed in Hong Kong, WRx has established itself as a pillar of ScripsAmerica's growth by steadily increasing its monthly revenues."
"The company expects to obtain licensing that will allow WRx to distribute pharmaceuticals in additional states in the coming months. This will expand our market share in the pharmaceutical supply division of our business which will continue to be a long-term source of revenue growth for ScripsAmerica," continued Schneiderman.
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.
Contact: 888-959-7095 firstname.lastname@example.orgSource:ScripsAmerica, Inc.