BEVERLY HILLS, CA--(Marketwire - July 28, 2009) -
AmexDrug Corp. (OTCBB:
AXRX) announced
today that the company has begun the initial implementation of its strategy
of expansion through the acquisition of carefully selected targets. These
targets will be vetted and chosen for their ability to integrate into
AmexDrug Corp.'s existing vertical structure of subsidiaries that include:
-- BioRx Pharmaceuticals (www.biorxlabs.com), a company that develops,
manufactures and distributes effective pharmaceuticals, OTCs and natural
care products for foot, skin, hair and nails
-- Dermagen, Inc. (www.dermagenlabs.com), a US-FDA registered and state
FDA approved facility licensed to manufacture pharmaceutical products and
medical devices
-- Allied Med, Inc. (www.amwrx.com), a full line pharmaceutical
wholesaler
"We have developed this acquisition strategy with particular regard for
the manner in which our prospective targets may offer benefits to, and
benefit from, incorporation into our vertically integrated structure," said
Jack Amin, President and CEO of AmexDrug Corp.
AmexDrug Corp. has built an efficient processing system and advanced
production facility. According to Amin, his company is well equipped to
formulate, compound, fill and pack a limitless range of OTCs
pharmaceuticals. He said AmexDrug Corp. has formulated over 700 different
formulas, including the popular SPONIX line of health and wellness products.
Currently, SPONIX products are sold through hundreds of independent
pharmacies and major retailers such as CVS, Target, and Amazon.com, and
distribution is expected to reach 25,000 retailers by the end of the year.
"We believe that the current economic climate has created a buyer's market,
with tremendous opportunities, including a phenomenal talent pool and
dynamic companies and competition. We have been greatly encouraged by the
success we have achieved through our current subsidiaries, and are highly
optimistic about the prospects of our current acquisition strategy," said
Amin.
About AmexDrug Corporation (OTCBB: AXRX):
AmexDrug Corp. is a vertically integrated pharmaceutical and cosmeceutical
company. With its subsidiaries BioRx Pharmaceuticals, Dermagen, Inc., and
Allied Med, Inc., AmexDrug Corp. develops, manufactures, markets, and
distributes private-label
over-the-counter pharmaceuticals, innovative skin care products and prescription
packaging to the nation's largest wholesalers and distributors. In
addition, the company distributes prescription drugs to independent
pharmacies. AmexDrug Corp. has an experienced executive team, advanced
manufacturing facility and broad distribution network, allowing the company
to integrate various phases of operations into one efficient business
entity. For more information about AmexDrug Corp., please visit
www.amexdrug.com.
Safe Harbor Statement:
Except for historical information contained herein, the matters set forth
above may be forward-looking statements that involve certain risks and
uncertainties that could cause actual results to differ from those in the
forward-looking statements. Such forward-looking statements are based on
the current beliefs of management, as well as assumptions made by and
information currently available to management. Actual results could differ
materially from those contemplated by the forward-looking statements as a
result of certain factors such as the level of business and consumer
spending, economic conditions in the industry and the financial strength of
the Company's customers and suppliers. The Company does not undertake any
obligation to update such forward-looking statements. Investors are also
directed to consider all other risks and uncertainties.
