Company's RapiMed(R) Children's Pain Reliever and Fever Reducer Can Now be Sold and Distributed Throughout Hong Kong
TYSONS CORNER, Va., Feb. 10, 2014 (GLOBE NEWSWIRE) -- ScripsAmerica, Inc.(OTCBB:SCRC) today announced that the Company has received registration approval for its RapiMed® Children's Pain Reliever & Fever Reducer from the Government of Hong Kong.
With the registration process complete, ScripsAmerica is now free to distribute RapiMed® throughout Hong Kong and the Company is ready to accept orders from affiliate hospital networks, and representatives of a major health product retailer with over 2,000 stores and over 500 pharmacies. Because RapiMed® is an over-the-counter (OTC) medication, it does not require FDA approval in order to be sold in Hong Kong due to the fact that its manufacturer is CGMP (Current Good Manufacturing Practices) certified.
With this certification, RapiMed®'s manufacturer needs only to follow the monograph process for the product's active ingredient. A monograph defines the safety, effectiveness, and labeling of all marketing OTC active ingredients and once a final monograph is completed, companies can make and market an OTC product without the need for FDA pre-approval.
Bob Schneiderman, CEO of ScripsAmerica, states "ScripsAmerica is very excited to announce RapiMed's registration approval by the Government of Hong Kong to allow the distribution of our children's pain reliever. Now the company can focus all of its efforts on finalizing distribution agreements with a large affiliate hospital network and major health product retailer to sell our product throughout Greater Asia."
"We believe that our product's unique and innovative rapid melt technology will lead to tremendous success in the Chinese OTC pharmaceutical market which will lead to expansion into other international markets, including new OTC drugs using our proprietary RapiMed formulation. This is a major milestone for ScripsAmerica that we believe is the beginning of significant revenue growth and increased shareholder value," Schneiderman continued.
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.
Source: ScripsAmerica, Inc.