Sharps Technology, an innovative medical device and pharmaceutical packaging company, has recently received a signed purchase order worth a staggering $30 million from Nephron Pharmaceuticals. This substantial order will cover the first 12 months of syringe product orders as part of a five-year Syringe Sales Agreement between the two companies. The purchase order will ensure the delivery of both 10mL and 50mL specialty copolymer prefillable syringes, which are set to be manufactured at the West Columbia site acquired from Nephron.
This significant development marks a major step forward for Sharps Technology, as it solidifies the company’s position as a key player in the pharmaceutical and healthcare industry. The shift towards innovative polymer prefillable syringes reflects the industry’s growing preference for modern solutions over traditional glass and plastic syringes. Sharps’ prefillable polymer syringes offer a high-quality alternative to glass syringe systems, with the added benefit of custom configurations and unique container closure systems. These innovative syringe products are designed to enhance drug stability, increase shelf life, and support the development of novel devices such as autoinjectors.
Braden Miller, Director of Product Development at Sharps, highlighted the company’s commitment to providing best-in-class syringe products that meet the evolving needs of the industry. With a focus on quality, performance, and safety, Sharps is poised to lead the way in the production of polymer prefillable syringes in North America.
The recently signed Asset Purchase Agreement and Syringe Sales Agreement with Nephron are expected to further strengthen Sharps’ position in the market. These agreements are set to close before the end of July, unlocking new opportunities for the company to expand its manufacturing capabilities and fulfil the growing demand for innovative syringe products. Upon the finalization of these agreements, Sharps is set to become the first fully dedicated, specialized polymer prefillable syringe manufacturing plant in North America.
Robert Hayes, CEO of Sharps Technology, expressed his enthusiasm for the partnership with Nephron and the exciting prospects that lie ahead for the company. The $1 million escrow deposit has provided Sharps with the necessary resources to commence key start-up activities and engage with prominent healthcare customers in the US. The company is also working diligently to expedite its manufacturing implementation plan in order to qualify its product for shipment to commercial customers at the earliest opportunity.
With a clear roadmap for the future, Sharps plans to ramp up its manufacturing capabilities and meet the anticipated demand for its innovative syringe products. The South Carolina facility, which is expected to begin product deliveries in the second quarter of 2025, has the potential to generate substantial revenue in the coming years. With a focus on quality, innovation, and customer satisfaction, Sharps Technology is well-positioned to make a significant impact in the pharmaceutical and healthcare industry.
In conclusion, the partnership between Sharps Technology and Nephron Pharmaceuticals represents a major milestone for the production of next-generation syringes. With a shared commitment to innovation and excellence, both companies are poised to lead the industry in delivering high-quality, advanced syringe solutions to meet the evolving needs of healthcare providers and patients.
For more information about Sharps Technology and its innovative syringe products, please visit www.sharpstechnology.com.