In recent news, Sharps Technology Inc. (STSS) has seen an increase in demand for its high-quality smart safety syringe products, following market growth and concerns surrounding tariffs, recalls, and quality issues with Chinese-supplied syringes. The medical device and pharmaceutical packaging company recently received two purchase orders for approximately 1 million SecureGard ultra-low waste smart safety syringes produced at Sharps’ manufacturing facility in Hungary.
Sharps Technology specializes in the development and manufacturing of drug delivery systems. Its product lines, SecureGard and SoloGard, focus on low-waste and ultra-low-waste syringe technologies that incorporate active safety features and re-use prevention measures accredited by the World Health Organization. These features help protect healthcare workers from needle stick injuries and prevent the dangers of needle re-use.
The undisclosed customer is a Swiss-based provider of cosmetic, dental, and ophthalmic injectable therapies. This initial order marks the beginning of a potential collaboration that could utilize Sharps’ technology, product portfolio, and development expertise to support the customer’s expanding product line. The first 100k syringe shipment is scheduled for the third week of July, with additional deliveries planned throughout the rest of 2024.
At last check, STSS shares were up 8.76% at $0.2520. The company’s focus on innovation in drug delivery systems and commitment to safety measures position it well for continued growth and success in the pharmaceutical packaging industry. With manufacturing facilities in Hungary and plans to expand in South Carolina, Sharps is working to increase its manufacturing capacity in the U.S., making it a valuable investment opportunity for those interested in this rapidly growing industry.
