That's a technique used since the 1950s with great success against the parasitic screw-worm; it's now gone from North and Central America. Every year we release millions to keep them in South America.
> In February 1991, after 15 years of production and the sterilization of 220 billion insects, Mexico was declared screwworm free. The screwworm rearing plant in Mexico, the only one of its kind, continues producing flies on a large scale for the eradication efforts under way in Central America and now provides FAO's Screwworm Emergency Centre for North Africa (SECNA) with sterile flies to combat the recent outbreak in North Africa.