Sharps Technology Agrees to $200 Million Syringe Sales Deal

May 30, 2024

DENVER, Colo., May 30, 2024 (247marketnews.com)- Sharps Technology, Inc. (NASDAQ:STSS) signed a 5-year, $200 million syringe Sales Agreement with Nephron Pharmaceuticals in conjunction with the Company’s Asset Purchase Agreement to acquire the InjectEZ specialty syringe manufacturing assets in West Columbia, South Carolina, which will be the only fully dedicated, specialized COC (cyclic olefin copolymer) prefillable syringe manufacturing plant in North America.

Robert Hayes, Sharps Technology CEO, stated, “Sharps will now have manufacturing operations in Europe and the United States, and this deal will generate significant short and long-term revenue for the Company. This transaction enables Sharps to enter the highly profitable copolymer prefillable syringe market segment, which is showing the greatest growth rate in the syringe marketplace. With the associated $200 million Sales Agreement in place for copolymer prefillable syringes, we will substantially accelerate Sharps’ revenue growth allowing the Company to create a new level of revenue and performance.

“Together, these landmark transactions will undeniably position the Company for future growth, providing meaningful benefits to both patients and shareholders.”

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