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Sharps Technology is an innovative medical device and pharmaceutical packaging company offering patented, best-in-class smart-safety syringe products to the healthcare industry. The Company’s product lines focus on providing ultra-low waste capabilities, that incorporate syringe technologies that use both passive and active safety features. Sharps also offers products that are designed with specialized copolymer technology to support the prefillable syringe market segment. The Company has a manufacturing facility in Hungary and has partnered with Nephron Pharmaceuticals to expand its manufacturing capacity in the U.S. A transformative asset acquisition of Nephron’s InjectEZ facility in South Carolina, once completed in the second half of 2024, places Sharps on a clear path for rapid growth.
Sharps Technology signed a $200 million five-year Sales Agreement and enhanced its Asset Purchase Agreement to acquire Nephron Pharmaceuticals' InjectEZ facility. This acquisition, announced in May 2024 and expected to close in the third quarter of 2024, will position Sharps as North America's first fully dedicated specialized polymer prefillable syringe manufacturer. The facility, set to begin product deliveries in Q2 2025, is expected to generate over $35 million in revenue in the first 12 months, with potential to exceed $50 million by 2026 and $100 million by 2028. Recent FDA recalls and tariffs on Chinese syringes have boosted demand for Sharps' products, which are increasingly preferred over glass syringes. Sharps is engaging with major pharmaceutical companies, retail chains, and healthcare distributors to expand its market presence. With a clear path to substantial revenue growth and profitability, alongside a buy rating and $16 per share price target from Aegis Capital, Sharps represents a compelling opportunity in a market forecasted to reach $29.8 billion by 2030.
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