TYSONS CORNER, Va., March 5, 2015 (GLOBE NEWSWIRE) -- ScripsAmerica Inc. (OTCBB:SCRC), today announced that the Company's Florida-based pharmaceutical distributor, PIMD International LLC, ("PIMD"), reported $554,411 in revenue during the month of February 2015.
PIMD's February sales were 305% higher than January and represent the company's second consecutive month of achieving record high revenues.
In December 2014, the Company acquired a 90% interest in PIMD, which serves as a pharmaceutical wholesaler distributor to pharmacies, hospitals, and physician's offices in the U.S., providing ScripsAmerica's customers and end users with access to specific medications. Additionally, PIMD International plans to sell medical supplies in other healthcare settings in the near future through its website, www.pimdintl.com.
"Scrips is very pleased to report that PIMD has experienced tremendous growth in February, reporting over three times the amount of revenue than in January, which also set a record high for monthly sales. As stated in our last news release regarding PIMD, this growth can be primarily attributed to its new product offerings and we look forward to continued strong performance from this area of our business," stated ScripsAmerica's CEO, Bob Schneiderman.
PIMD International is currently DEA-licensed to receive, store and ship Schedule 3 through Schedule 5 formulary pharmaceuticals. The company is licensed to distribute pharmaceuticals in Florida, New Jersey, New York, Texas, Pennsylvania, Tennessee, Arizona, Kentucky, Alabama, Illinois, Alaska, Colorado, Iowa, Massachusetts, Utah and Ohio, and will continue to apply for additional state licenses throughout the United States.
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 a result of new information, future events or otherwise.
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