SOURCE: ScripsAmerica

ScripsAmerica

July 09, 2014 08:30 ET

ScripsAmerica's Equity Venture, Wholesale Rx, Reports 93% Revenue Growth During the First Quarter of 2014

ScripsAmerica's Pharmaceutical Distribution Partner, Wholesale Rx, Processes $792,627 in Orders During Q1 and PIMD International Receives Orders From Pharmacies

TYSONS CORNER, VA--(Marketwired - Jul 9, 2014) - ScripsAmerica Inc. (OTCBB: SCRC), a leading supplier of prescription, OTC and nutraceutical drugs, today announced that the Company's equity venture, Wholesale Rx "WRx," reported quarterly revenue growth of 93% from Q4 2013 to Q1 2014.

WRx, a Tennessee-based pharmaceutical distributor, received and processed $792,627 in orders during the first three months of 2014 compared to $410,610 during the fourth quarter of 2013, which was the equity venture's first full quarter of operation. ScripsAmerica entered into a sales and financing agreement with WRx in August 2013 to provide its client base of independent pharmacies with prescription drugs at competitive prices through bulk ordering.

Since that time, the partnership has generated increasing monthly revenues, resulting in the Company taking an equity position in WRx in November 2013, forming an equity venture which has continued its revenue growth. Management attributes the venture's revenue growth to WRx's ability to deliver needed goods in a timely manner.

In addition, the Company announced that PIMD International received orders from Florida pharmacies during the second quarter. PIMD International serves as a pharmaceutical wholesaler to pharmacies, hospitals, and physician's offices in the US and provides ScripsAmerica's customers with access to specific medications for its end users and sells medical supplies in all healthcare settings.

"ScripsAmerica is pleased to report dramatic revenue growth for our pharmaceutical distribution equity venture over the past two quarters. Sales from this venture are on par with Scrips' overall projected revenue growth in 2014 as our managed specialty pharmacy continues to generate increased revenues and we are also happy to report that PIMD International has also received pharmacy orders during the second quarter. As previously stated, ScripsAmerica expects this equity venture to be a steady revenue source that will see consistent long-term growth as we expand its scope into new states," stated ScripsAmerica's CEO, Bob Schneiderman.

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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