NEW CASTLE, Del., May 29, 2013 (GLOBE NEWSWIRE) -- ScripsAmerica Inc. (OTCBB:SCRC), a leading supplier of prescription, OTC and nutraceutical drugs, today announced that the Company has signed an agreement with Capricorn Pharma, Inc. "CPI" for the development, manufacturing and supply of its RapiMed® children's pain reliever and fever reducer.
CPI will manufacture and distribute ScripsAmerica's RapiMed® dissolvable pain relief remedy in 80 mg and 160 mg tablets, including cherry and grape flavors. The initial term of the contract is two years with two five-year extension options and encompasses distribution within the U.S. and North America. Per the agreement, CPI will manufacture and distribute a minimum of 20 million tablets with both parties expecting production to increase each year, leading to a projected volume of approximately 97 million RapiMed® tablets being distributed in the agreement's seventh year.
ScripsAmerica anticipates launching its RapiMed® product in September of this year into retail, food and drug store chains with plans to expand its distribution avenues.
Chief Executive Officer of ScripsAmerica, Bob Schneiderman, commented, "This is an exciting and important development for the company as we prepare for our anticipated RapiMed® product launch later this year. CPI is a very reputable manufacturer in the generic drug market and we are confident that our relationship will be very productive and beneficial for ScripsAmerica and its shareholders."
CPI is a cGMP manufacturer of innovative pharmaceutical products. For more information, visit www.capricornpharma.com.
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.
CONTACT: 888-959-7095Source:ScripsAmerica, Inc.