DALLAS, Sept. 24, 2007 (PRIME NEWSWIRE) -- John Pentony, Publisher of StockGuru.com, announced today that the web site is initiating Profile Coverage of RxElite Holdings, Inc., a wholly owned operating subsidiary of Southridge Technology Group, Inc. (OTCBB:SOUT). RxElite develops, manufactures, and markets generic prescription drug products in specialty generic markets. These markets include products in the areas of anesthesia, sterile liquid dose drugs (including respiratory inhalation drugs, ophthalmics, and injectable drugs), and transdermal patch products.
RxElite has over ten products in its pipeline. New products will be launched over the next three years targeting a $2 billion generic drug addressable market. Initiation of the launch program will begin in 2008.
There is no single component of the generic drug industry more important to success than distribution agreements. RxElite has agreements with over ninety percent of the U.S. market for generic drugs. These agreements represent 50 of the top 75 generic drug buyers. Key customers of RxElite include Wal-Mart, Walgreens, McKesson, and Cardinal Health.
To view the StockGuru.com Profile for RxElite Holdings, Inc., a wholly owned operating subsidiary of Southridge Technology Group, Inc. (OTCBB:SOUT), please visit:
http://www.stockguru.com/profiles/sout
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This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 involving known and unknown risks, delays, and uncertainties that may cause the actual results or performance to differ materially from those expressed or implied by these forward-looking statements. These risks, delays, and uncertainties include, but are not limited to: risks associated with the uncertainty of future financial results, our reliance on our sole supplier, the limited diversification of our product offerings, additional financing requirements, development of new products, government approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements.
Disclosure: Pentony Enterprises LLC has been compensated $18,000 directly from the company for profile coverage. Pentony Enterprises is not a registered investment adviser or a broker/dealer. Pentony Enterprises LLC makes no recommendation that the purchase of securities of companies profiled in this web site is suitable or advisable for any person, or that an investment in such securities will be profitable. In general, given the nature of the companies profiled and the lack of an active trading market for their securities, investing in such securities is highly speculative and carries a high degree of risk.