Sharps Technology Inc. Secures $1 Million Purchase Order for Innovative Smart Safety Syringes as Demand for Injection Solutions Rises
Sharps Technology Inc. (STSS) has received two purchase orders for approximately 1 million SecureGard ultra-low waste smart safety syringes produced at its manufacturing facility in Hungary, which is driving up the company’s stock price on Friday. The first shipment of 100k syringes is scheduled for the third week of July, with additional deliveries planned throughout the rest of 2024.
The demand for innovative injection solutions is rapidly increasing as injectables are becoming the preferred method for a wide range of therapies including vaccines, biologics, weight management, cosmetics, gene therapies, and diabetes treatment. This surge in interest and potential demand for Sharps’ high-quality smart safety syringe products is due to concerns surrounding tariffs, recalls, and quality issues with Chinese-supplied syringes.
Sharps Technology specializes in developing and manufacturing drug delivery systems that incorporate active safety features and re-use prevention measures accredited by the World Health Organization. Its SecureGard and SoloGard product lines focus on low-waste and ultra-low waste syringe technologies that help protect healthcare workers from needle stick injuries and prevent the dangers of needle re-use. With manufacturing facilities in Hungary and plans to expand in South Carolina, Sharps is working to increase its manufacturing capacity in the U.S.
At last check, STSS shares were up 8.76% at $0.2520, reflecting the company’s focus on innovation in drug delivery systems and commitment to safety measures positioning it well for continued growth and success in the pharmaceutical packaging industry.
