Sharps Technology, Inc. received a signed $30 million purchase order from Nephron Pharmaceuticals, representing their first 12 months of syringe purchase commitments. The purchase order includes deliveries for both the 10mL and 50mL specialty copolymer prefillable syringes that will be manufactured at the West Columbia site being acquired from Nephron. This assurance of supply is expected to support the planned expansion of the 503b operations at the Nephron site.

The new copolymer syringe technology reflects the pharmaceutical and healthcare industry?s trend toward transitioning injectable drug therapies into innovative polymer prefillable syringes and away from the older glass and standard plastic syringes. Sharps Technology recently signed, and is working to close on, an enhanced Asset Purchase Agreement and accompanying five-year, $200 million Syringe Sales Agreement with Nephron. These agreements are expected to close before the end of July, although there can be no assurance.

The purchase order is conditioned on the closing of the Asset Purchase Agreement. Once finalized and closed, Sharps will become the first fully dedicated, specialized polymer prefillable syringe manufacturing plant in North America. The syringe facility will be on track to begin product deliveries in the second quarter of 2025, with projected revenue expected to exceed $35 million for the first 12 months of sales.