NEW YORK, June 17, 2024 (GLOBE NEWSWIRE) -- Sharps Technology, Inc., (NASDAQ: "STSS" and "STSSW"), an innovative medical device and pharmaceutical packaging company offering patented, best-inclass syringe products, has made the first shipment of its 1mL and 3mL Securegard smart safety syringe line to the Latin American healthcare market. The initial product orders were placed through a collaborative effort between Sharps and a Latin American distribution partner based in Colombia and represent a significant ...

NEW YORK, June 14, 2024 (GLOBE NEWSWIRE) -- Sharps Technology, Inc., (NASDAQ: "STSS" and "STSSW"), an innovative medical device and pharmaceutical packaging company offering patented, best-inclass syringe products, is pleased to invite investors to a webinar on June 18, 2024, at 4:15 p.m. ET. Additionally, a five-year, $200 million sales agreement with Nephron will see Sharps' next-generation copolymer prefillable syringes manufactured at the South Carolina plant and 10mL SoloGard polypropylene syringes fro ...

Signed PO secures first 12 months of syringe product orders against Sharps and Nephron's five-year, $200 million Syringe Sales Agreement. Braden Miller, Sharps Director of Product Development, commented, "Sharps has developed an exciting alternative to glass syringes through the use of molded inert polymers, offering a high-quality solution compared to traditional glass syringe systems." Sharps prefillable polymer syringes have many of the same characteristics as traditional glass designs to support long te ...

Current Asset Purchase Agreement closing timeline is on track for expected prefillable syringe product shipments to begin by Q2 of 2025. Braden Miller, Sharps Director of Product Development, commented, "Sharps has developed an exciting alternative to glass syringes through the use of molded inert polymers, offering a high-quality solution compared to traditional glass syringe systems." Sharps prefillable polymer syringes have many of the same characteristics as traditional glass designs to support long ter ...

Core Viewpoint - Sharps Technology is advancing its position in the prefillable syringe industry in the U.S. through the acquisition of InjectEZ assets from Nephron Pharmaceuticals, with a significant sales agreement in place [2][3]. Group 1: Acquisition Details - Sharps Technology has made a $1 million escrow deposit for exclusive rights to purchase InjectEZ assets, with the closing of the Asset Purchase Agreement and a five-year, $200 million syringe Sales Agreement expected within 60 days [2][3]. - The acquisition will establish Sharps as the first fully dedicated polymer prefillable syringe manufacturing plant in North America, with product shipments planned to begin by Q2 of 2025 [2][3]. Group 2: Financial Projections - Projected revenue from the new facility is expected to exceed $35 million in the first 12 months of sales following the commencement of product deliveries [2][3]. - The five-year sales agreement includes the purchase of next-generation copolymer prefillable syringes and is expected to support future purchases from Sharps' Hungary facility [4]. Group 3: Manufacturing Plans - Upon closing the acquisition, Sharps plans to ramp up its manufacturing implementation plan, including facility upgrades to support the production of pharmaceutical-grade COC prefillable syringes on three production lines [3][4]. - The first production line is expected to be qualified for shipment by early Q2 of 2025, with all three lines anticipated to produce saleable products by Q4 of 2025 [3][4]. Group 4: Strategic Partnerships - Sharps is collaborating with several Fortune 500 medical product distributors and pharmaceutical industry leaders to develop additional sales opportunities in the prefillable syringe market [4].

Sharps CEO issues letter to shareholders with details about the InjectEZ acquisition, establishing Sharps position in the prefillable syringe (PFS) industry in the U.S. Signed Syringe Sales Agreement will secure product orders totaling over $200 million for the first five years of operation. Sharps is negotiating additional pharma-segment purchase commitments for orders over the next three years, with shipments expected to begin by Q2 of 2025. Demand for Sharps products is increasing due to recent FDA warni ...

Core Viewpoint - Sharps Technology, Inc. is enhancing its manufacturing capacity through a $35 million acquisition, positioning itself in the specialized copolymer prefillable syringe (PFS) system industry in the U.S. This move is expected to generate over $200 million in product orders within the first five years of operation [1][2]. Acquisition Details - The acquisition involves the purchase of InjectEZ specialty syringe manufacturing assets in West Columbia, South Carolina, which will be the only fully dedicated COC prefillable syringe manufacturing plant in North America [1][4]. - The asset acquisition price is $35 million, with an assumption of related liabilities up to $4 million [4]. Sales Agreement - Sharps has signed a 5-year, $200 million syringe Sales Agreement with Nephron Pharmaceuticals for copolymer prefillable syringes, with product deliveries expected to begin in late Q2 of 2025 [1][3]. - The agreement includes minimum orders for next-generation copolymer prefillable 10 mL and 50 mL syringes, as well as 10 mL SoloGard polypropylene syringes [3]. Revenue Projections - The projected revenue from the new syringe sales is approximately $37 million for the first 12 months of sales, with total revenue expected to exceed $200 million over the five-year agreement [1][3]. - The company anticipates significant short and long-term revenue growth from this transaction, entering a highly profitable market segment [2]. Manufacturing Capabilities - The new facility will feature state-of-the-art, fully automated manufacturing, packaging, and distribution capabilities, designed to meet the high demand for specialty syringe systems [4]. - Sharps currently operates a manufacturing facility in Hungary and is expanding its capacity in the U.S. through this acquisition [5].

Sharps will strengthen its manufacturing capacity with a $35 million acquisition of assets, establishing the Company's position in the specialized copolymer prefillable syringe (PFS) system industry in the U.S. Through the syringe Sales Agreement and the closing of the APA, Sharps will secure product orders totaling over $200 million for the first five years of operation Sharps is negotiating additional pharma-segment PFS purchase commitments for orders over the next 3 years, with shipments expected to begi ...

Sharps CEO issues letter to shareholders on FDA actions and tariffs affecting Chinese syringes. The FDA began raising quality concerns over Chinese-manufactured syringes in November 2023, resulting in multiple recalls and warnings for these products during the first quarter of 2024, and has advised that healthcare facilities should use plastic syringes produced elsewhere. The tariff rate on Chinese-made syringes and needles was raised from 0% to 50% by the Biden Administration in May 2024. NEW YORK, May 28, ...

Sharps CEO issues letter to shareholders on FDA actions and tariffs affecting Chinese syringes. The FDA began raising quality concerns over Chinese-manufactured syringes in November 2023, resulting in multiple recalls and warnings for these products during the first quarter of 2024, and has advised that healthcare facilities should use plastic syringes produced elsewhere. The tariff rate on Chinese-made syringes and needles was raised from 0% to 50% by the Biden Administration in May 2024. NEW YORK, May 28, ...