ScripsAmerica Inc., a supplier of prescription, over the counter and nutraceutical drugs, announced that Marlex Pharmaceuticals, which the company has signed a Letter of Intent to acquire, has renewed its pharmaceutical supply contract with national nursing home group, GeriMed. Both Marlex and ScripsAmerica are based in New Castle.
The new agreement extends through September 2014 and can potentially generate $2 million in revenue for Marlex Pharmaceuticals, which ScripsAmerica plans to operate as a wholly owned subsidiary.
Prior to this renewal, GeriMed and Marlex were engaged in a two year pharmaceutical packaging and distribution agreement.
ScripsAmerica’s CEO, Bob Schneiderman, commented, “The renewal of Marlex’s pharmaceutical supply contract by GeriMed’s national chain of nursing homes is an expected, yet very positive development for the company. This is a testament to the top quality packaging services that Marlex provides to its customers by offering very competitive pricing, tremendous flexibility and timeliness. I firmly believe that the company can reach the contract’s maximum potential which would generate $2 million over the next two years.”