TYSONS CORNER, Va., Feb. 3, 2015 (GLOBE NEWSWIRE) — ScripsAmerica, Inc. (OTCBB:SCRC) today announced that its wholly owned subsidiary, Main Avenue Pharmacy, reported $3,488,099 in approved orders during the month of January 2015.
ScripsAmerica’s specialty pharmacy reported over $5 million in monthly approved orders for four straight months to close 2014. Management attributes the decrease in monthly orders to annual sales cycles experienced in the prescription drug market as well as the fact that its pharmacy was closed for five days during January due to holidays and inclement weather.
“During the months of January and February, it is typical for orders in our business to see a decline because medical insurance deductibles reset at the beginning of each calendar year, causing prescription reimbursement to drop. In spite of this effect coupled with the fact that Main Avenue lost five business days in January, which is a significant amount, we were still able to generate nearly $3.5 million in monthly approved orders which the Company believes is strong, considering all of these factors,” CEO of ScripsAmerica, Bob Schneiderman, commented.
“Following the month of February, Scrips expects Main Avenue Pharmacy’s monthly orders to get back on track,” added Schneiderman.
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.
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