ScripsAmerica Signs Joint Venture With Global Pharma Hub to License, Market and Distribute RapiMed in Hong Kong, China
February 03 2014 - 8:30AM
ScripsAmerica, Inc. (OTCBB:SCRC) today announced
that the Company has entered into a joint venture with Global
Pharma Hub, an international pharmaceutical marketing and
distribution company, to license, market and distribute its
RapiMed® Children's pain reliever and fever reducer.
Global Pharma Hub has an exclusive license to market and
distribute RapiMed® worldwide with the exception of the United
States. Additionally, Global Pharma Hub has the ability enter
sub-license agreements in the interest of market expansion and
revenue generation for RapiMed® and has provided a sub-license to
NYJJ, a Hong Kong-based company, to generate initial and ongoing
orders for the product following its registration approval by the
Hong Kong government. These agreements are the necessary final
steps in securing the product's registration approval.
"We feel confident that Global Pharma Hub will quickly secure
orders and facilitate the delivery of our RapiMed products in Hong
Kong through their network. With this agreement we can hit the
ground running and expect initial success and steady growth moving
forward in the Asian market once we receive government approval.
Following our launch in Hong Kong, we believe that Global Pharma
Hub will continue to add tremendous value by expanding our
worldwide market penetration with Scrips' current and future rapid
melt technology products. This is a very exciting time for
ScripsAmerica and its shareholders," stated Bob Schneiderman,
ScripsAmerica's CEO.
Management of ScripsAmerica would like to reiterate to its
shareholders that RapiMed® is an over-the-counter (OTC) medication,
therefore does not require FDA approval in order to be sold in Hong
Kong, China due to the fact that RapiMed®'s manufacturer is CGMP
(Current Good Manufacturing Practices) certified. Because this is
the case, RapiMed®'s manufacturer needs only to follow the
monograph for the product's active ingredient.
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 reflect 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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