Sharps Technology Signs Landmark Deal to Produce Prefillable Specialty Copolymer Syringes in the U.S.
Sharps Technology Inc., a pioneering medical device and pharmaceutical packaging company, has announced a groundbreaking 5-year, $200 million syringe sales agreement with Nephron Pharmaceuticals. This deal complements the company’s asset purchase agreement to acquire the InjectEZ specialty syringe manufacturing assets in West Columbia, South Carolina.
Sharps Technology is poised to revolutionize the syringe market with its innovative copolymer prefillable syringe systems.
The facility, designed with cutting-edge manufacturing capabilities, will be the only fully dedicated COC prefillable syringe manufacturing plant in North America. Product delivery is scheduled to begin in the second quarter of 2025, with projected revenue totaling approximately $37 million for the first 12 months of sales.
“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.” - Robert Hayes, Sharps Technology CEO
The 5-Year Sales Agreement
In conjunction with the proposed acquisition of the syringe facility, Nephron has agreed to a 5-year agreement to purchase Sharps’ next-generation copolymer prefillable 10 mL and 50 mL syringes, as well as 10 mL SoloGard polypropylene syringes, with minimum orders totaling over $200 million during the period.
The state-of-the-art facility in West Columbia, South Carolina, will be the only fully dedicated COC prefillable syringe manufacturing plant in North America.
InjectEZ Acquisition
The acquisition of manufacturing assets in the U.S. will enable Sharps to commercialize innovative copolymer prefillable syringe systems to the healthcare market beginning in the second quarter of 2025. The asset acquisition price is $35 million, with an assumption of certain related liabilities of up to $4 million.
Sharps Technology is poised to revolutionize the healthcare industry with its innovative copolymer prefillable syringe systems.
