TYSONS CORNER, Va., Aug. 4, 2015 (GLOBE NEWSWIRE) -- ScripsAmerica, Inc. (OTCBB:SCRC) today announced that it has hired James F. Buchanan, Pharm.D. as a drug safety consultant who will serve as the Company's 'Medical Director," overseeing all medical and insurance compliance operations.
"ScripsAmerica is pleased to welcome Mr. Buchanan to our team as he brings over two decades of experience in the medical and pharmaceutical industries with a focus on drug safety and possesses the expertise necessary to help guide our company's growth in the most effective and compliant manner," stated Interim CEO of ScripsAmerica, Brian Ettinger.
"Management and Scrips' Board of Directors are determined to expand our market share in the specialty pharmacy industry across the United States. James will help ensure that we stay fully compliant with all of the medical, pharmaceutical and insurance regulations in a dynamic regulatory environment which is critical to achieve this growth and increase shareholder value moving forward," he added.
Dr. James Buchanan, PharmD has over 24 years of drug safety industry experience and currently serves as Senior Vice President of Pharmacovigilance and Risk Management at BioSoteria, Inc. He began his industry career at Genentech, working for nine years in the areas of medical information and drug safety in the clinical development department before moving to Gilead Sciences to establish the BioSoteria's drug safety department and serving as Associate Director then Director of Drug Safety.
Following Gilead Sciences, Dr. Buchanan established a drug safety department at Tularik, where he served as Chief Safety Officer until Tularik was acquired five years later by Amgen. Dr. Buchanan served as Senior Director of Drug Safety and Biometrics at Nuvelo, also served as Chief Safety Officer, and was also responsible for clinical operations, biostatistics and data management. Mr. Buchanan is an instructor in drug safety at UC Berkeley Extension and graduated from the University of California, San Francisco with a Pharm.D. degree in clinical pharmacy.
Additionally, ScripsAmerica's Interim CEO commented on the recent 8K filing announcing that it has retained KMJ Corbin & Company LLP ("KMJ") and terminated its engagement with Friedman LLP as the Company's independent registered public accounting firm, effective immediately.
Ettinger stated, "The Company made the decision to switch our public accounting firm because Friedman LLP was unable to provide a definitive date of completion for its auditing tasks and subsequent filing of our annual and quarterly financial reports for 2014 and 2015 respectively."
"As we stated in our most recent release, management holds the filing of our past due financials as its top priority and has taken the necessary actions to expedite this process while ensuring that it is completed correctly and accurately. KMJ Corbin & Company is a highly reputable public accounting firm that we believe will completely fulfill these expectations in the most timely fashion possible," he concluded.
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.