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Amexdrug Corp. (AXRX) Embarks on Key Expansion Phase



7/28/2009 11:02:22 AM

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.


Contact

AmexDrug Corp.
Jack Amin
President and CEO
(310) 855-0475
Email Contact


Read at BioSpace.com


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