NEW CASTLE, Del., June 3, 2013 (GLOBE NEWSWIRE) — ScripsAmerica, Inc. (SCRC), a supplier of prescription and OTC drugs, today announced that the Company has begun discussions with Forbes Investment Ltd. to market, supply, distribute and adapt its RapiMed(R) products throughout China. According to Kline and Company, the Chinese OTC market is valued at over $32 Billion Dollars.
Jun Liang, Manager of Forbes Ltd. in Shenzhen, China, is arranging for ScripsAmerica to meet with its pharmacy and hospital buying networks as part of an upcoming sales agreement that would introduce RapiMed(R) into the Chinese OTC drug market. Liang said, “ScripsAmerica’s RapiMed Products are uniquely formulated to meet China’s market needs. It allows the country’s pharmaceutical companies, hospitals, nursing facilities, research institutes and the military to adapt RapiMed to fit their situations.”
According to Liang, “With children making up over 17% of China’s nearly 1.5 Billion population, RapiMed for children will be a target market of the Company’s initial sales penetration. With the tablets ease to administer without the need for water, simple packaging for retail sales, precise dosing, and bulk distribution, it has spurred the interest beyond the children’s market. Forbes believes that the Company’s product technology can be adapted for medications ranging from pain to diabetes.”
Liang added, “In addition to our pharmacy and hospital buying outlets, we are very excited about two specific markets with enormous sales potential for ScripsAmerica’s technology; One is adapting RapiMed to meet the immediate needs of those retailing and distributing Erectile Dysfunction products because China represents the largest ED market in the world. One in three Chinese men displays some symptoms of ED. This translates into almost one hundred million men and the perfect opportunity for the ‘Quickmelt’ technology of RapiMed to gain acceptance throughout this vast country.”
“The second market we are very excited about is developing sales to the military. The government announced in April that there are 1,483,000 PRC military personnel divided into 18 different corps. We believe that the technology of RapiMed has great potential for deployed personnel in normal and difficult field situations,” continued Liang.
Formal sales and marketing negotiations will begin in June, followed by the exchange of technology protection agreements and delivery schedules between Forbes and ScripsAmerica. Forbes expects the formal exchange of agreements to be concluded before the end of September.
About ScripsAmerica, Inc.
ScripsAmerica, Inc. delivers pharmaceutical products to a wide range of end users across the health care industry through the largest pharmaceutical distributor in North America, McKesson Corporation. End users include retail pharmacies, hospitals, long-term care facilities and government and home care agencies.
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.