SILVER SPRING, Md.,
Oct. 31, 2013 /PRNewswire/ -- Pharmagen, Inc. (OTCBB:
PHRX) (the "Company" or "Pharmagen") announces that it will shift
its near-term focus to developing and deploying a business
plan to build a solid foundation for revenue and EBITDA
growth. Pharmagen's multi-solution driven model and access to
public markets are an attractive platform to build a significant
national competitor in the fight against drug shortages.
"We have been listening to our advisors and the street.
Before we can implement on our bigger vision, we have to get back
to the basics," says Mackie Barch,
Pharmagen's CEO. "The plan is already underway and we expect
to start implementing on it by the end of the year. The plan
has two parts: One, to build organically off the foundation
and platform we already have; and Two, to use that platform to
support a comprehensive acquisition strategy. We have already
identified a list of target acquisitions and are currently seeking
advice from investment banks, healthcare advisory/investment firms
and/or family offices," Mackie continued.
Pharmagen's goal is to engage the support needed to implement
the plan, which includes financial partners and/or consultants that
have experience and a proven track record in roll-up and
consolidation plans. Pharmagen has set a goal of acquiring
three to four potential targets in the coming year.
About Pharmagen
Pharmagen, Inc. ("Pharmagen"), and wholly owned subsidiaries and
operating divisions Pharmagen Laboratories, Inc., Pharmagen
Distribution, LLC and Pharmagen Nutraceuticals, Inc. offers
innovative solutions to the nations sterile pharmaceutical crisis.
With a multi-solution approach, Pharmagen is helping to meet
the demand of the health provider market through independent
wholesale, compounding, and IT solutions. Nationally focused,
Pharmagen is a distributor of specialty drugs, compounding and
admix pharmacy and producer of over-the-counter ("OTC") branded
multivitamins. Pharmagen currently functions as a
just-in-time source of supply for hospitals for those products that
are hard-to-find due to drug manufacturers' production
shortages.
Contact: 888-264-4597 or info@pharmagenrx.com
Follow Us on Twitter: @pharmagenrx or
The Drug Shortage
Report http://drugshortagereport.blogspot.com/
Safe Harbor Statement
Information in
this document constitute forward-looking statements or statements
which may be deemed or construed to be forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. The words "forecast", "anticipate", "estimate",
"project", "intend", "expect", "should", "believe", and similar
expressions are intended to identify forward-looking statements.
These forward-looking statements involve, and are subject to
known and unknown risks, uncertainties and other factors which
could cause Pharmagen actual results, performance (financial or
operating) or achievements to differ from the future results,
performance (financial or operating) or achievements expressed or
implied by such forward-looking statements. The risks,
uncertainties and other factors are more fully discussed in
Pharmagen's filings with the U.S. Securities and Exchange
Commission. All forward-looking statements attributable to
Pharmagen herein are expressly qualified in their entirety by the
above-mentioned cautionary statement. Pharmagen disclaims any
obligation to update forward-looking statements contained in this
estimate, except as may be required by law.
SOURCE Pharmagen, Inc.