TYSONS CORNER, Va., July 24, 2013 (GLOBE NEWSWIRE) -- ScripsAmerica Inc. (OTCBB:SCRC), a supplier of prescription and OTC drugs, today announced that the Company has signed an official Memorandum of Understanding (MOU) with Forbes Investments, Ltd. (Forbes) to establish a joint venture to market, supply, distribute and adapt ScripsAmerica's RapiMed® products throughout China's rapidly growing OTC market, already valued at over $32 billion.
As part of the joint venture, Forbes, based in Shenzhen, China, will actively arrange a marketing and supply distribution operation of RapiMed® throughout greater China, through its affiliates and network partnerships. Forbes has already identified over 300 pharmacies and hospitals for the potential distribution of RapiMed®.
ScripsAmerica, in coordination with Forbes and based upon market demands, plans to develop additional product lines for distribution in China utilizing the Company's RapiMed® fast melt technology. Anticipated new product lines include pharmaceuticals and vitamins as well as general and sexual health products.
Bob Schneiderman, CEO of ScripsAmerica, stated, "We are very proud to announce the signing of this MOU with Forbes. With its booming population, increasing healthcare needs and strong demand for American made medicine, we believe China represents a very fertile market for RapiMed®. Entering the Chinese market represents a major milestone for the Company and our shareholders and the anticipated success of this joint venture will bring ScripsAmerica closer to our goal of becoming listed on a major exchange. We are eager to begin this operation and ready to put forth the resources and hard work necessary to ensure our international growth."
About ScripsAmerica, Inc.
ScripsAmerica, Inc. delivers 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: 888-959-7095Source:ScripsAmerica, Inc.