SOURCE: ScripsAmerica

ScripsAmerica

November 18, 2014 08:00 ET

ScripsAmerica Announces Full Acquisition of Main Avenue Pharmacy

Company Completes Acquisition of Its Managed Specialty Pharmacy

TYSONS CORNER, VA--(Marketwired - Nov 18, 2014) - ScripsAmerica, Inc. (OTCBB: SCRC) today announced that the Company has recently acquired 100% of Main Avenue Pharmacy, Inc. ("MAVP"), a New Jersey-based pharmacy that specializes in prescription topical creams.

Main Avenue Pharmacy will now operate as a wholly owned subsidiary of ScripsAmerica. In February of this year, ScripsAmerica entered into an agreement with MAVP whereby the Company fully manages its operations. Since that time, MAVP has experienced consistent monthly revenue growth and it has been management's goal to fully acquire the pharmacy and consolidate its financial activities into those of ScripsAmerica.

"ScripsAmerica is very pleased to complete the total acquisition of Main Avenue Pharmacy. As our shareholders are aware, Main Avenue's revenues have demonstrated significant and consistent growth throughout 2014 under our management," ScripsAmerica's CEO, Bob Schneiderman commented.

"Management of ScripsAmerica will continue to promote and facilitate Main Avenue Pharmacy's rapid sales growth and business development moving into 2015, which we expect will be a very successful year for this part of our overall business and provide a sizeable contribution to our expected increase in shareholder value," 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.

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