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Interview with Bob
Schneiderman, the CEO of SCRC - Nov. 02, 2012
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,
CutisPharma, Inc, MedVet and the United States Veterans
Administration. www.ScripsAmerica.com.
| Shares
Authorized: 150 million |
Public
Float: 20 million |
| Shares
Outstanding: 56 million |
Price
Target: N/A |
* based
on OTC Markets data |
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SCRC
Renews Generic Drug Shipments to Veteran’s Administration
Last Updated: April
16, 2013 - 7:00am EST
(NEW YORK)--ScripsAmerica, Inc. (OTC:SCRC), a leading
supplier of prescription, OTC and nutraceutical drugs to US
government agencies, announced in their fiscal 2012 results that
they have restarted their generic drug contract with the Veteran’s
Administration.
Investor Highlights
- Generic Drug Supplier to US Govt. Agencies
- Renews Generic Drug Shipments to VA
- Over-the-Counter Product Launch in Q2
- RapiMed Product to take on Children's Tylenol Meltaway’s
- Projecting $10 Million in Sales for 2013
- Pending Merger with Marlex Pharmaceuticals
- $25 million Contract with US Dept. of Homeland Security
2012 Financial Results
For the twelve months ending Dec. 31, 2012, the Company reported
total revenues of $3,915,000, as compared to $5,956,000 for same
period in 2011. In their filing they commented that the decline in sales
versus the 2011 period was mainly a result of the completion of
a supply agreement with the Veteran’s Administration (VA) in
2011, but did confirm the Company has renewed their VA
contract in the fourth quarter of 2012, and revenues would have
been approximately $1 million higher in 2012.
Projecting $10
Million Sales for 2013
During the first quarter 2013, the Company projected strong revenue
sales growth based on renewing contracts. The Company recorded its
highest monthly revenue ever of $904,275 in January, followed by
$849,039 in February, a 115% increase over February 2012. Management
believes it is on pace to record its highest annual sales ever, and
achieve an important milestone of $10 million+ in revenues for 2013.
RapiMed(R)
Over-the-Counter Product Launch
During
2012, the Company worked in developing and market its RapiMed®
pediatric pain and fever reliever over-the-counter product, and
anticipates national distribution launch in the second quarter of
2013. In February, the Company obtained positive feedback at the
2013 "Cough/Cold, Analgesics & Allergy EPPS"
conference, and received verbal order commitments from 62 of 66
retailers that it met with during the conference. The launch of
ScripsAmerica’s unique pain and fever relief product should
provide for additional revenue growth as the company focuses on
expanding its national distribution through the summer 2013, and
gaining market share from McNeil Consumer Healthcare's ‘Tylenol
Meltaways'. http://www.rapimeds.com
Marlex
Pharmaceuticals Acquisition
On Sept. 12,
2012, the Company announced it had signed a Letter of Intent (LOI) to
acquire Marlex Pharmaceuticals, Inc., a global pharmaceutical
packaging company.
The
acquisition is expected to have a positive impact on both companies,
and could add 10-15% to ScripsAmerica's gross profit margin. More
specifically, the Company forecasts that this move would
significantly increase its revenues by up to $6 million, order
processing capability, and profitability in addition to providing
more opportunities to secure government contracts due to Marlex's
current relationships. Marlex
would add strong management with years of experience in the
pharmaceutical products field to the SCRC team.
Marlex
Pharmaceuticals' New Castle, DE facility is in compliance with the
FDA, DEA, and the state board of pharmacy and contains 12,000 square
feet of temperature-controlled space dedicated to pharmaceutical
packaging, contract packaging and private labeling.
$25 Million Govt. Contract
On Sept. 24,
2012, the Company announced their pending acquisition, Marlex
Pharmaceuticals, Inc, was awarded a $25 million pharmaceutical
distribution contract with the Office of Health Affairs, a branch of
the U.S. Department of Homeland Security, in conjunction with the
Defense Logistics Agency (DLA).
Marlex will
supply pharmaceuticals to the DLA over the next 2-3 years at a cost
of $25 million, and was awarded this contract based on the company's
ability to provide specified pharmaceuticals at competitive prices.
On Oct. 05, 2012, the Company has already shipped and invoiced the
first order of an 8 year pharmaceutical distribution contract with
the United States Department of Defense and Defense Logistics Agency
(DLA).
ScripsAmerica
will gain 100% ownership of the pharmaceutical distribution upon
completion of their merger, which is expected to be complete by
December 2012.
Potential Acquisition Target
SCRC's
growing distribution network of generic drugs to both private and
government agencies may eventually make ScripsAmerica an attractive
acquisition target for a larger NASDAQ or AMEX company looking to
enter, or expand their own generic supplier footprint. The odds of
SCRC becoming an attractive target should increase if and when they
close the merger with Marlex Pharmaceuticals.
Register here to
receive updates and to be added to SCRC investor mailing list online
by going to http://www.wallstreetnewscast.com/request/scrc.html
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Safe Harbor Statements:
This
investor presentation may include statements that may constitute
forward-looking statements made pursuant to the safe harbor
provisions of the U.S. Private Securities Litigation Reform Act of
1995. Although the Company believes that the expectations
reflected in such forward-looking statements are based on
reasonable assumptions, such statements are subject to risks and
uncertainties that could cause actual results to differ materially
from those projected.
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compensated one thousand seven hundred dollars, and twenty
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encouraged to consult with a financial advisor before any and all
investments.
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