Sharps Technology $STSS Expands Copolymer Prefillable Syringe Market With $400M Nephron Deal
  • 6 months ago
Sharps Technology Inc. (NASDAQ: STSS) is pushing into the copolymer prefillable syringe market thanks to a deal with Nephron Pharmaceuticals Corp., a leader in contract manufacturing of generic medications and 503B outsourcing that includes prefillable sterile syringes. Sharps announced the signing of an Asset Purchase Agreement (APA) to acquire Nephron’s InjectEZ specialty syringe manufacturing facility for $50 Million. This includes a 10-Year purchase agreement for over $400 Million from Nephron Pharmaceuticals for Sharps’ next-generation copolymer prefillable syringe systems. Product delivery is scheduled for the first quarter of 2024 with revenue totaling approximately $30 Million for the first twelve months of production and subsequent revenue of over $45 Million per year beginning in 2025, and continuing through 2033.