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Sharps Compliance Announces It Has Properly Processed and Treated More Than 2.7 Million Pounds of Unused Ultimate-User Medications
Strong Supporter of DEA’s National Drug Take Back Day
HOUSTON, Oct. 15, 2018 (GLOBE NEWSWIRE) -- Sharps Compliance, Inc. (Nasdaq: SMED), a nationwide provider of management services for medical waste and unused medication, announces that it has properly processed and treated more than 2.7 million pounds of unused ultimate-user medications since 2009. This milestone, achieved primarily through the use of its MedSafe® and TakeAway Medication Recovery System™ Envelopes designed for the safe, convenient, and proper disposal of opioid painkillers and other unused medications, coincides with the Drug Enforcement Administration’s 16th “National Prescription Drug Take Back Day” on October 27, 2018. Sharps Compliance is committed to helping communities and citizens dispose of unused medications to combat the growing epidemic of prescription drug abuse and accidental poisonings throughout the year and has been a longtime supporter of the DEA drug take back event which occurs annually in April and October.
“We believe that safe, convenient, and proper disposal of prescription medication, including controlled substances, is a vital component in the national effort to combat prescription drug abuse, in conjunction with education, research, and treatment,” said David P. Tusa, President and Chief Executive Officer of Sharps Compliance, Inc. “As market recognition and use of our MedSafe and TakeAway Medication Recovery System Envelopes has increased, the collection, processing, and treatment of unused medications represents a growing portion of our business. We are proud to see our solutions play an active role assisting healthcare providers and facilities as well as local communities and state governments in their efforts to confront the opioid crisis head on.”
Sharps Compliance has deployed approximately 3,000 MedSafe collection receptacles into retail and hospital pharmacies, and to long-term care, drug treatment, and licensed law enforcement facilities since the release of the updated DEA disposal regulations in 2014. Customers have returned over 20,000 inner liners with nearly 900,000 pounds of unused medications. Sharps has sold more than 3.4 million TakeAway Medication Recovery Envelopes since 2009.
MedSafe is an ultimate-user unused medication collection and disposal system. This easy-to-operate system accepts controlled (Schedules II-V), non-controlled, and over-the-counter medicines. The patent-pending MedSafe medication disposal program operates under, and is in compliance with, the October 2014 DEA rules and regulations.
The TakeAway Envelopes are available at participating pharmacies. Customers can simply purchase a USPS postage-paid TakeAway Envelope, place their unused medications in the envelope, and drop it in any mailbox. The TakeAway Envelope is specially designed for the proper disposal, transportation, and treatment of all drugs, including controlled substances. Local and federal governments, as well as the private sector, have stepped up to provide the envelopes to communities and citizens to help with medication disposal.
According to the Centers for Disease Control and Prevention, “Overdose deaths involving prescription opioids were five times higher in 2016 than in 1999.” Altarum estimated that the opioid crisis has cost the country more than “$1 trillion from 2001 to 2017 and is projected to cost an additional $500 billion by 2020.”
Sharps Compliance partners with public and private entities to address the growing problem of opioid abuse, working closely with federal agencies, such as the Department of Veterans Affairs and the Department of Defense as well as state governments, like Montana and North Dakota. Sharps also works with private businesses, such as independent and chain pharmacies, long-term care facilities, hospitals and healthcare systems, and narcotic treatment facilities. Sharps Compliance applauds the efforts of these organizations stepping up to help their communities.
About Sharps Compliance, Inc.
Headquartered in Houston, Texas, Sharps Compliance is a leading full-service national provider of comprehensive waste management services, including medical, pharmaceutical, and hazardous. Its key markets include healthcare providers, assisted living/long-term care facilities, retail pharmacies and clinics, and the professional market which is comprised of physicians, surgery centers, dentists, and veterinary practices. Sharps also provides two simple solutions for safe and easy disposal of unused medications: MedSafe collection receptacles and TakeAway Medication Recovery System Envelopes.
More information on Sharps Compliance and its products can be found on its website at www.sharpsinc.com.
For more information contact:
Diana P. Diaz
Sharps Compliance Corp.
Vice President and Chief Financial Officer
Phone: (713) 660-3547
John Nesbett/Jennifer Belodeau
Institutional Marketing Services (IMS)
Phone: (203) 972-9200
Photos accompanying this announcement are available at