Sharps Technology Enters Into 5-Year Sales Agreement With Strategic U.S. Medical Products Company Creating +$50M In New Revenue For EU Facility, Definitive Agreement Sells Out The 10mL SoloGard Production Capacity At Sharps' Manufacturing Site

Definitive agreement sells out the 10mL SoloGard production capacity at Sharps' manufacturing site in the EU and drives expansion to support the project's growth in the future

 

Sharps' portfolio of products provides attractive options to the U.S. Pharmaceutical Healthcare Industry as companies look for alternatives to Chinese-manufactured disposable syringes

Sharps has exceeded the product sales commitments for the EU-based facility made to investors in the June 2022 Shareholder Letter

NEW YORK, July 25, 2024 (GLOBE NEWSWIRE) -- Sharps Technology, Inc., (NASDAQ: "STSS" and "STSSW"), an innovative medical device and pharmaceutical packaging company offering patented, best-in-class prefillable and disposable syringe products, has successfully concluded negotiations and signed a contract with a prominent U.S.-based supplier of medical saline and water products to supply them with customized 10mL SoloGard syringes manufactured at Sharps' facility in the EU. The customer initiated an evaluation of Sharps' SoloGard product in light of the recent FDA recalls and tariffs imposed on Chinese supplied syringes. Their successful evaluation of the SoloGard syringes led to the execution of a five-year sales agreement that completely sells out the currently available manufacturing capacity for the 10mL SoloGard product. This transformative syringe program will drive the need for near-term expansion to support the current customer projects slated for the Hungary plant.