NEW CASTLE, Del., Jan. 11, 2013 (GLOBE NEWSWIRE) -- ScripsAmerica, Inc. (OTCBB:SCRC), a leading supplier of prescription, OTC and nutraceutical drugs, today announced that the Company's acquisition target, Marlex Pharmaceuticals, Inc., has shipped over $1.1 million of product during the initial three months of its multi-year pharmaceutical distribution contract with the US Department of Defense (DOD) and Defense Logistics Agency (DLA).
During the month of January, the company has ramped up its distribution from an average of 700 bottles per month to a minimum of 1,100 bottles per month, representing a 57% increase. This was accomplished because of its manufacturer's ability to produce a larger quantity of the needed pharmaceutical. Given its current production rate, the company is on pace to meet or exceed the $25 million production requirement of its government contract with the DOD.
CEO of ScripsAmerica, Bob Schneiderman, commented, "We are very pleased to see Marlex Pharmaceuticals reach production rates that position the company to meet its $25 million contract minimum with the Department of Defense. After just one quarter of pharmaceutical packaging and shipping for this contract, Marlex already appears positioned to see a significant increase in its monthly value."
About ScripsAmerica, Inc.
ScripsAmerica, Inc. delivers pharmaceutical products to a wide range of end users across the health care industry, including physicians' offices, retail pharmacies, long-term care sites, hospitals, and Government and home care agencies through the largest pharmaceutical distributor in North America, McKesson Corporation. Current therapeutic categories serviced by the Company include pain, arthritis, prenatal, urinary, and hormonal replacement drugs. Other customers of ScripsAmerica include Cardinal Health, Curtis Pharmaceuticals, MedVet and the United States Veterans Administration.
For more information please 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.