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ScripsAmerica Moves to Finalize Negotiations With Major Chinese Distributors to Sell RapiMed(R) Throughout Asia
4 minutes ago - DJNF
ScripsAmerica Moves to Finalize Negotiations With Major Chinese Distributors to Sell RapiMed(R) Throughout Asia
Company Forecasts Chinese Demand for RapiMed(R) Will Generate Multimillion Dollar Revenues During the First Year Following Its Launch
TYSONS CORNER, Va., Nov. 25, 2013 (GLOBE NEWSWIRE) -- ScripsAmerica, Inc. (OTCBB:SCRC) today announced that the Company's recent business development trip to China has generated strong interest from multiple large entities for the distribution of its RapiMed(R) children's pain reliever throughout Asia.
ScripsAmerica's sales team held negotiations with a large affiliate hospital network as well as representatives of a major health product retailer with over 2,000 stores and over 500 pharmacies across Greater Asia. Management reports that negotiations went very well with both entities expressing great interest in entering distribution agreements for RapiMed(R) upon the product's registration approval from the Chinese government. The Company forecasts that RapiMed(R) could generate multimillion dollar revenues during the first twelve to eighteen months following its launch in Asia alone.
ScripsAmerica's CEO Bob Schneiderman said, "Our sales team reported strong indications of interest from two major potential distribution partners in China. Both the hospital network and major retailer we met with reported increasing demand from their patients and customers for safe, reliable and effective Over-the-Counter (OTC) children's pain and fever relievers due to epidemic levels of dangerous counterfeit medications being sold in China's $32 billion OTC market. Furthermore China's recent loosening of its one child restrictions for families will also contribute to a boom in the market for safe, effective U.S. manufactured child medication products like RapiMed(R) as it will likely add several million babies to the Chinese population over the next five years."
"Based upon this one child policy news, we can already see rapid share price increases of publicly traded companies on Chinese Exchanges that specialize in infant and baby products. Because RapiMed(R)'s quick-dissolving, waterless technology is the ideal medicinal delivery method for children, the lifting of its one-child policy represents incredible market opportunities for ScripsAmerica in China," Schneiderman added.
"In our efforts to maximize RapiMed(R)'s market penetration in Asia, we will continue to aggressively establish and cultivate relationships with Chinese distributors. ScripsAmerica's goal is to sell RapiMed(R) in major retail distribution outlets throughout China such as WalMart China, Carrefour, and RT Mart International. We firmly believe that 2014 will be a breakout year for ScripsAmerica and our shareholders," concluded Schneiderman.
About ScripsAmerica, Inc.
