HOUSTON, Oct. 17, 2011 (GLOBE NEWSWIRE) -- Sharps Compliance Corp. (Nasdaq:SMED) ("Sharps" or the "Company"), a leading full-service provider of cost-effective solutions designed for the proper management of medical waste and unused dispensed medications, announced that Walgreens (NYSE:WAG) (Nasdaq:WAG) and Novo Nordisk, Inc. (NYSE:NVO) have united to offer the patent-pending Sharps' Complete Needle™ Collection & Disposal System (the "System") for free through a special promotional program to customers that routinely require injectable medicines, such as insulin. The program runs nationwide from October 23 through November 19 and coincides with National Diabetes Month.
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The Complete Needle™ Collection & Disposal System is a safe, easy-to-use and cost-effective solution designed for consumers and includes the Company's containment, packaging and return shipping via the U.S. Postal Service, as well as compliant tracking and treatment. By using the System, self-injectors conveniently avoid the adverse environmental impacts that could result from improper disposal of used needles and syringes, as well as preventing potential health risks to themselves, their families and the community.
David P. Tusa, President and CEO of Sharps Compliance commented, "Our unique three-way cooperative arrangement with Walgreens and Novo Nordisk is the first of its kind to involve a retail pharmacy and pharmaceutical manufacturer to address the proper handling and disposal of needles for the approximately 13.5 million people that require injectable medications for their health and well-being. Walgreens and Novo Nordisk will provide rebates and redemption coupons to their customers so they can obtain our comprehensive, patent-pending Complete Needle™ Collection & Disposal System for free at any Walgreens during the promotional period." Novo Nordisk has signed on as the sponsor of the program.
Customers can purchase the system at any Walgreens nationwide from October 23 through November 19 and receive a rebate form at the register for the $4.99 cost of the system. For customers concerned with environmentally-responsible disposal, the receipt will also include the Novo Nordisk sponsorship redemption coupon for the free return postage and incineration of the container and needles (a $20 value).
Phil Fornecker, Novo Nordisk's corporate vice president of strategic business operations, noted, "There are an estimated 19 million people diagnosed with diabetes in the country and many more believed to be undiagnosed. Approximately 26% of those with diabetes require insulin treatment to manage their health, which translates into billions of syringes that require proper disposal."
Suzanne Hansen, group vice president of pharmacy operations for Walgreens, added, "We believe that working together we have an excellent opportunity to offer our customers a safe, environmentally-friendly means of disposing of their needles, syringes or other injectable devices and are proud to offer the easy-to-use system for their safety and convenience."
For more information about the System visit www.completeneedle.com or call the dedicated Complete Needle™ line at 1-888-988-8859.
ABOUT SHARPS COMPLIANCE CORP.
Headquartered in Houston, Texas, Sharps is a leading full-service provider of cost-effective management solutions for medical waste and unused dispensed medications generated outside the hospital and large health care facility setting. Its strategy is to capture a large part of the estimated $2.8 billion untapped market for unused medications, used syringes and medical waste generated outside of hospital and large health care settings by targeting the major agencies that are interrelated with this medical waste stream; including the U.S. government, pharmaceutical manufacturers, home healthcare providers, retail pharmacies and clinics, and the professional market which is comprised of physicians, dentists and veterinary practices. As a fully integrated medical waste management company providing customer solutions and services, the Company's business model, significant operating leverage, combined with its early penetration into emerging markets, uniquely positions it for strong future growth.
More information on the Company and its products can be found on its website at: www.sharpsinc.com
ABOUT WALGREENS
Walgreens (www.walgreens.com) is the nation's largest drugstore chain with fiscal 2011 sales of $72 billion. The company operates 7,779 drugstores in all 50 states, the District of Columbia and Puerto Rico. Each day, Walgreens provides nearly 6 million customers the most convenient, multichannel access to consumer goods and services and trusted, cost-effective pharmacy, health and wellness services and advice in communities across America. Walgreens scope of pharmacy services includes retail, specialty, infusion, medical facility and mail service, along with respiratory services. These services improve health outcomes and lower costs for payers including employers, managed care organizations, health systems, pharmacy benefit managers and the public sector. Take Care Health Systems is a Walgreens subsidiary that is the largest and most comprehensive manager of worksite health and wellness centers and in-store convenient care clinics, with more than 700 locations throughout the country.
ABOUT NOVO NORDISK
Headquartered in Denmark, Novo Nordisk is a global healthcare company with 88 years of innovation and leadership in diabetes care. The company also has leading positions within hemophilia care, growth hormone therapy and hormone replacement therapy. For more information, visit www.novonordisk-us.com.
Safe Harbor Statement
The information made available in this press release contains certain forward-looking statements which reflect Sharps Compliance Corp.'s current view of future events and financial performance. Wherever used, the words "estimate", "expect", "plan", "anticipate", "believe", "may" and similar expressions identify forward-looking statements. Any such forward-looking statements are subject to risks and uncertainties and the company's future results of operations could differ materially from historical results or current expectations. Some of these risks include, without limitation, the company's ability to educate its customers, development of public awareness programs to educate the identified consumer, customer preferences, the Company's ability to scale the business and manage its growth, the degree of success the Company has at gaining more large customer contracts, managing regulatory compliance and/or other factors that may be described in the company's annual report on Form 10-K, quarterly reports on Form 10-Q and/or other filings with the Securities and Exchange Commission. Future economic and industry trends that could potentially impact revenues and profitability are difficult to predict. The Company assumes no obligation to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results express or implied therein will not be realized.
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