ScripsAmerica Signs Deal with its RapiMed Manufacturer
ScripsAmerica, a provider of prescription, OTC and nutraceutical drugs, announced that it had signed a two-year manufacturing supply agreement with an undisclosed manufacturer of its RapiMed children's pain reliever and fever reducer, formalizing the working relationship.
The Tyson’s Corner, Va.-based ScripsAmerica did not reveal the manufacturer in its announcement, noting it has filed an 8-K with the SEC requesting that disclosing the name of the RapiMed producer be considered as "Disclosure of the Confidential Information.” The company said revealing the name would seriously damage its competitive advantage in China for the product and hurt its ability to secure future manufacturing and supply agreements under profitable terms for RapiMed or other orally disintegrating tablet products.
The companies just completed ScripsAmerica's first Hong Kong order of $200,000 worth of RapiMed, the ScriptsAmerica said.
The order took longer to produce since it needed to be in Hong Kong-approved packaging, which the supplier delivered, said ScripsAmerica CEO Bob Schneiderman.
"Subsequent orders will be produced in as little as two weeks from the time they are ordered and we anticipate sales of our first product, RapiMed, to increase during the second half of 2014," he added. — Kellen Owings
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