With the three-year agreement, the company now enters into the growing Canadian OTC drug market, which was valued at more than $3.1bn in 2012.
Jestaw has over 14 years experience in the Canadian pharmaceutical and OTC market.
All these years, the company has been providing medication procurement and distribution services to hospitals, clinic chains and both independent and large pharmacy brands.
Jestaw has a wide network of relationships in the Canadian pharmaceutical market as a result of operating across various levels of the country’s pharmacy management and logistics chain areas.
With the deal, ScripsAmerica aims to use these relationships to introduce RapiMed into multiple distribution channels.
ScripsAmerica CEO Bob Schneiderman said the company is happy to enter the Canadian OTC drug market and advance its goal of developing RapiMed into a global brand.
"We’re currently in distribution negotiations in Hong Kong, applying for RapiMed’s approval for mainland China and with this agreement, positioning Scrips to penetrate the booming Canadian OTC market," Schneiderman said.
"The company has been steadily laying the foundation for an international network of partners to introduce RapiMed into foreign markets and believe that these efforts will translate into major revenue growth and a breakout year for Scrips in 2014."