ScripsAmerica Seeks to Build on Asian Expansion
Sales and Distribution Channels Will Be Key to RapiMed(R)'s Success in China
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 25^th to be signed by both parties the week of July 5^th. 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
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.
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