ScripsAmerica Enters Licensing Agreement to Market and Distribute RapiMed in Canada
March 05 2014 - 8:30AM
ScripsAmerica, Inc. (OTCBB:SCRC) today announced
that the Company has entered into a sublicensing agreement for the
marketing and distribution of RapiMed® in Canada. ScripsAmerica
will now have access to the growing Canadian OTC drug market, which
was valued at over $3.1 Billion in 2012.
ScripsAmerica's joint venture partner, Global Pharma Hub,
entered into this agreement with Jestaw Pharmaceuticals, Inc. in
Canada, giving the company the exclusive sublicensing right to
market and distribute RapiMed® Children's pain reliever and fever
reducer in Canada for a term of three years. Jestaw Pharmaceuticals
has over 14 years experience in the Canadian pharmaceutical and OTC
market, providing medication procurement and distribution services
to hospitals, clinic chains and both independent and large pharmacy
brands. The company has a wide network of relationships in the
Canadian pharmaceutical market as a result of operating across
various levels of the country's pharmacy management and logistics
chain areas. ScripsAmerica intends to leverage these relationships
to aggressively introduce RapiMed into multiple distribution
channels. Jestaw Pharmaceuticals is headed by Wilson A Odijie, Bsc
Pharm. Rph., a seasoned executive with nearly 15 years of industry
experience. Mr. Odijie has served as Medical Director of Eaglesmed
Group, Inc., Field Operations Manager for Nigerian pharmaceutical
companies, Supreme Pharmaceuticals and Olpham Ltd, a clinical and
hospital pharmacist and an entrepreneur in the pharmacy industry.
He is a certified member of several organizations, including the
Pharmacy Examining Board Of Canada, Alberta College Of Pharmacy,
Pharmacists Association Of Alberta and the Royal College of
Surgeons and Physicians in Glasgow, UK.
Bob Schneiderman, ScripsAmerica CEO, stated, "We are very
excited to enter the Canadian OTC drug market and advance our goal
of developing RapiMed into a global brand. We're currently in
distribution negotiations in Hong Kong, applying for RapiMed's
approval for mainland China and with this agreement, positioning
Scrips to penetrate the booming Canadian OTC market."
"ScripsAmerica is committed to aggressive growth and maximizing
shareholder value. The company has been steadily laying the
foundation for an international network of partners to introduce
RapiMed into foreign markets and believe that these efforts will
translate into major revenue growth and a breakout year for Scrips
in 2014," Schneiderman concluded. 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 as a result of new information,
future events or otherwise.
CONTACT: 888-959-7095
ir@sealpointconsulting.com
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