Sharps Technology Receives $30 Million Purchase Order from Nephron Pharmaceuticals

June 13, 2024

DENVER, Colo., Jun 13, 2024 (247marketnews.com)- Sharps Technology, Inc., (NASDAQ:STSS) received a $30 million purchase order from Nephron Pharmaceuticals, representing their first 12 months of syringe purchase commitments, for 10mL and 50mL specialty copolymer prefillable syringes.

Braden Miller, Sharps Director of Product Development, stated, “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 term drug stability and increase shelf life for pharma and healthcare customers. However, polymer syringes can also be made into custom configurations with unique container closure systems; they can nearly eliminate breakage, minimize dead space, reduce contamination, excel in cold-chain storage, and support the development of novel devices including autoinjectors. The ability to produce these innovative syringe products using advanced manufacturing techniques creates additional advantages in the areas of quality, performance, and safety when compared to similar glass syringe products.

Robert Hayes, Sharps Technology CEO, added, “Once the enhanced deal with Nephron was negotiated and signed, everything began moving at an accelerated pace. Sharps is so pleased that Nephron has been willing to issue this Purchase Order now. It speaks to the collaborative relationship between our companies and the long partnership we want to have with Nephron.”

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