LANGHORNE, Pa., June 24, 2013 (GLOBE NEWSWIRE) -- ScripsAmerica Inc. (OTCBB:SCRC) is looking to build on its position as a supplier of prescription and OTC drugs by expanding sales and distribution of its products into Asia. The Company's financing partner in Shenzhen, China, Forbes Investments Ltd., is arranging the introduction of ScripsAmerica's RapiMed® product into China.
Forbes released a statement, which read, "The key to RapiMed®'s sales and distribution success in China is having access to proven distribution channels for pharmaceutical and OTC products. We have intro access to a proven network of hospitals, drug stores and pharmacies."
The Forbes statement further read, "Once ScripsAmerica has opened a distribution network, either through license or joint venture participation funded by Chinese investment bankers, it will open up a tremendous opportunity to expand beyond China into the rapidly growing Asian market. With China's worldwide push to grow its marketplace and fund expansion into developing countries through distribution and acquisition, a ScripsAmerica – China joint venture could be an enormous benefit to existing ScripsAmerica shareholders."
The spokesperson for Forbes said, "China is aggressively making expansion capital available through direct investment and loans into the targeted expansion zones of Malaysia, the Philippines, Vietnam, Cambodia and Laos. Add to this the huge pharmaceutical markets next door including South Korea, Taiwan and Japan, and such a joint venture could easily have a pronounced effect on the Company's existing gross sales, enabling it to become its own publicly traded entity."
Forbes said, "The Chinese marketplace should provide fast acceptance of RapiMed®, which offers our distribution partners Western know-how, branding and joint marketing and distribution efforts that mutually benefit both parties. We are already looking into RediMed® adaptation market opportunities that include additional children's products and have been asked to look at the pharmaceutical and OTC products aimed at the fast-growing elderly market. Additionally, an exciting bonus opportunity exists in Japan, addressing its major multi-level marketing companies that are constantly looking for cutting edge new products or ways to improve current products."
"It is important to remember that we are positioning ScripsAmerica's growth in China to be a part of the country's 'Go Global' strategy, whereby the government is providing billions of dollars in loans to foreign countries to acquire Chinese manufactured goods through banks and investing partners. It is not a stretch of the imagination to envision the manufacture and export of Scrips-China RapiMed® products into this exploding global marketplace."
The official "Memorandum of Understanding" will be submitted to ScripsAmerica on June 25th to be signed by both parties the week of July 5th. The Company expects the signing of the "Definitive Agreement" to occur before the end of September, which will include initial production and shipping schedules.
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.
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.