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Sharps Technology Inc. (NASDAQ: STSS) is an innovative medical device and pharmaceutical packaging company specializing in the development and manufacturing of ultra-low waste, smart safety syringes. The company’s product lines, which include Sharps Provensa, SecurGard, and SoloGard, are designed to eliminate potentially infectious needlestick injuries and reduce waste, making drug delivery safer and more efficient.
Sharps Technology, headquartered in New York, operates a state-of-the-art manufacturing facility in Hungary and has plans to expand its operations in the United States. The company recently entered into a significant partnership with Roncadelle Operations, an Italian-based leader in the development of drug delivery devices. This partnership aims to broaden Sharps' market reach into Europe, the Middle East, Africa, and Asia-Pacific regions while allowing Roncadelle to penetrate the North and Latin American markets. The companies will collaboratively sell and distribute each other’s products, including prefilled syringes, needle guard systems, auto-injectors, and injector pen devices.
One of Sharps Technology’s latest achievements includes a $200 million Sales Agreement with Nephron Pharmaceuticals, along with the acquisition of the InjectEZ syringe manufacturing facility in South Carolina. This move will make Sharps the first dedicated polymer prefillable syringe manufacturer in North America, with plans to begin product deliveries by the second quarter of 2025. The facility will produce specialized cyclic olefin copolymer (COC) prefillable syringes, addressing the growing demand for safer, more efficient drug delivery solutions.
The company’s commitment to innovation is further highlighted by its SecureGard and SoloGard syringes, which feature active safety mechanisms and WHO-accredited reuse prevention measures to protect healthcare workers and patients. Sharps is also working on expanding its product line with new technologies such as prefilled syringes, needle guard systems, auto-injectors, and injector pen devices. These efforts align with the recent FDA guidelines encouraging healthcare providers to move away from Chinese-manufactured syringes due to safety concerns.
Sharps Technology is poised for significant revenue growth and market expansion, driven by its strategic partnerships, innovative products, and robust manufacturing capabilities. For more information, please visit www.sharpstechnology.com.
Sharps Technology (NASDAQ: STSS) has signed an enhanced Asset Purchase Agreement with Nephron Pharmaceuticals to acquire InjectEZ manufacturing assets in South Carolina. The $35 million acquisition includes a five-year, $200 million syringe Sales Agreement, positioning Sharps as the first dedicated polymer prefillable syringe manufacturer in North America. Expected revenues are $35 million in the first 12 months, with potential growth to $100 million by 2028. The facility will start delivering products by Q2 2025. The deal also involves a $9 million and $4.75 million investment for production line expansions, potentially adding $65 million in annual revenue by 2027. This strategic move is fueled by FDA recalls, tariffs, and a shift from glass to polymer syringes.
Sharps Technology has signed a $200 million, 5-year syringe sales agreement with Nephron Pharmaceuticals and an asset purchase agreement (APA) to acquire InjectEZ's syringe manufacturing assets for $35 million. This acquisition, expected to close within 60 days, will establish a dedicated prefillable syringe manufacturing plant in West Columbia, SC. The facility aims to start production by Q2 2025, projecting $37 million in revenue in the first 12 months. This deal expands Sharps' manufacturing capacity in the U.S. and Europe and positions the company for growth in the copolymer prefillable syringe market.
Sharps Technology (NASDAQ: STSS) CEO Robert Hayes addresses shareholders about the impact of recent FDA actions and tariffs. The FDA raised quality concerns over Chinese syringes in November 2023, leading to recalls and warnings in early 2024. The Biden Administration increased tariffs on Chinese syringes from 0% to 50% in May 2024. Sharps Technology, with its high-quality syringe products like SecureGard and SoloGard, is poised to fill the supply gap. The company manufactures in Hungary and plans to add a US facility. Sharps has also formed partnerships with Roncadelle Operations and Owens & Minor to expand market reach and distribution. These steps are expected to drive revenue growth and market presence.
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