YOUNGSVILLE, LA / ACCESSWIRE / August 19, 2016 / RedHawk Holdings Corp. (IDNG) ("RedHawk" or the "Company") announced today that EcoGen Europe Limited ("EcoGen"), in which the Company currently has a 25% ownership interest, has signed an exclusive agreement to license and supply a new non-patent infringing generic spray formulation of Sildenafil Citrate ("Sildenafil") in the U.K. EcoGen will market the new spray under the brand name Azulvig. EcoGen expects to begin marketing the Azulvig in about 12 months after receipt of final U.K. regulatory approval.
While waiting on final U.K. approvals, the Company said it will work with the LSU Innovation Center and the LSU Health Sciences Center to develop the most effective marketing strategy for Azulvig.
Sildenafil, developed by Pfizer, Inc. (NYSE:PFE) and sold as Viagra and other trade names, is a medication used to treat erectile dysfunction and pulmonary arterial hypertension. By some estimates, the global erectile dysfunction drug market is expected to reach $3.2 billion by 2022 (Grand View Research Inc., 2015). Sildenafil accounts for more than 40% of the total global market and is generally considered as the first line of treatment for erectile dysfunction (IMS data).
The taste of Azulvig is masked to allow for oral absorption through sub-lingual or buccal membranes. The oral spray permits faster routes of absorption than oral tablets, which are limited by various factors, such as first pass metabolism. Azulvig will be offered in a "bag on valve" pump actuated dispenser of either 10ml or 30ml sizes. Azulvig will allow clinicians to more accurately control patient doses in order to achieve optimum control of the condition, while reducing the potential for side effects.
About RedHawk Holdings Corp.
RedHawk Holdings Corp., formerly Independence Energy Corp., is a diversified holding company which, through its subsidiaries, is engaged in sales and distribution of medical devices, sales of branded generic pharmaceutical drugs, commercial real estate investment and leasing, sales of point of entry full-body security systems, and specialized financial services. Through its medical products business unit, the Company sells WoundClot Surgical - Advanced Bleeding Control, the Disintegrator™ Insulin Needle Destruction Unit, the Carotid Artery Digital Non-Contact Thermometer and Zonis®. Its real estate leasing revenues are generated from various commercial properties under long-term lease. Additionally, RedHawk's real estate investment unit holds limited liability company interest in various commercial restoration projects in Hawaii. The Company's financial service revenue is from brokerage services earned in connection with debt placement services. RedHawk Energy holds the exclusive U.S. manufacturing and distribution rights for the Centri Controlled Entry System, a unique, closed cabinet, nominal dose transmission full body x-ray scanner.
Cautionary Statement Regarding Forward Looking Statements
This release may contain forward-looking statements. Forward-looking statements are all statements other than statements of historical fact. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. The words "anticipate," "may," "can," "plans," "believes," "estimates," "expects," "projects," "targets," "intends," "likely," "will," "should," "to be," "potential" and any similar expressions are intended to identify those assertions as forward-looking statements.
Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties. In evaluating forward-looking statements, you should consider the various factors which may cause actual results to differ materially from any forward-looking statements including those listed in the "Risk Factors" section of our latest 10-K report. Further, the Company may make changes to its business plans that could or will affect its results. Investors are cautioned that the Company will undertake no obligation to update any forward-looking statements.