Sharps Technology’s Global Expansion: Achieving Key Milestones To Strengthen Market Position
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by Kenneth Adams, Benzinga
Sharps Technology, Inc. (NASDAQ: STSS), an innovative medical device and pharmaceutical packaging company, and Roncadelle Operations, an Italian-based driving force in the development of novel medical drug delivery devices announced a collaboration aimed at transforming the landscape of drug delivery systems worldwide. This strategic partnership encompasses a series of agreements and initiatives designed to enhance market access, drive collaboration and innovation and promote patient safety worldwide.
The partnership commenced in mid-January with the signing of a Letter of Intent (LOI) between Sharps Technology and Roncadelle Operations to enter into a sales and marketing agreement that would enable Sharps and Roncadelle to cooperatively sell and distribute each others products to their respective areas of influence and expand Sharps American-based product market into Europe, the Middle East, Africa and the Asia-Pacific region. By mid-February Sharps began working with Owens & Minor, a leading global healthcare logistics supplier, to establish a 3PL and distribution network across North and South America for both the Sharps and Roncadelle lines of smart disposable safety syringes.
We are excited about this opportunity to collaborate with Roncadelle, a premier manufacturer of smart safety syringes and a leader in the development of drug delivery systems, to expand both our solution offerings in the U.S. and our reach into the world market, commented Sharps Technology CEO Robert Hayes. This agreement is very beneficial for both of our companies.
Sharps Technology specializes in the development and manufacturing of innovative drug delivery systems. The companys Securegard and Sologard product lines focus on low-waste and ultra-low waste syringe technologies that incorporate both active safety features and World Health Organization-accredited reuse prevention measures. Roncadelles SafeR Retractable Safety Syringe and needles offer a passive safety system with both auto-disable and reuse prevention features.
Sharing our product portfolio gives our healthcare customers, from large pharmaceutical companies to startup biologics, access to a broad range of solutions and price points to match even their most challenging requirements. This will open up a completely new level of service to the market, states Ben Scheu, Sharps Senior Director of Sales.
Sharps reports that the synergy between Sharps and Roncadelle will bring together more than 30 established distribution points with Sharps new Owens & Minor partnerships to deliver products to the world healthcare market that stand for simplicity of use and are unparalleled in safety and patient protection, setting new global standards to safeguard people from infection and disease. The business alliance additionally potentially creates a very important player in advancing syringe market opportunities through the development of unique technologies such as prefilled syringes, needle guard systems, auto-injectors and injector pen devices.
It is exciting to see how well our companies complement each other and how we can leverage our combined relationships, expertise, and resources to build out our distribution network, enhance syringe safety around the world, and introduce novel drug delivery solutions to the healthcare industry, said Robert Hayes, Sharps CEO.
On February 21, 2024, Sharps Technology. announced that it was preparing to make the first shipment of its 1mL and 3mL Securegard smart safety syringe line to the Latin American healthcare market. Tapping into the growing interest in safety syringe technology in Latin America, the collaboration will make the Securegard syringe line available to hospitals, pharmacies and direct points of sale and will give healthcare networks access to utilizing the technology and firsthand experience with its real-world benefits.
We are building strategic partnerships within the entire Latin American distribution network to support region-wide efforts to improve medical safety and healthcare outcomes. While implementing wide-scale change can be challenging, we are well positioned to introduce Securegard to healthcare agencies and facilities across the region, comments Robert Hayes, Sharps Technology CEO. Based on prior studies, we are confident that once healthcare practitioners use Securegard syringes, they will want to continue to use them in their practice, leading to ongoing purchase orders.
Securegard syringes provide clinicians with an ultra-low waste drug delivery technology that incorporates active safety features as well as World Health Organization-accredited reuse prevention measures. These features maximize the amount of drug therapy that is available to patients while both protecting frontline healthcare workers from life-threatening needle stick injuries and protecting the public from the dangers of needle reuse.
Securegard syringes offer a promising drug delivery solution for healthcare markets, facilities and providers by incorporating safety and reuse prevention features into their design. Moreover, the use of ultra-low waste syringe technology ensures that the maximum number of doses of needed drug therapies can be made available to the people who depend on them.
On March 7, 2024, Sharps Technology and Roncadelle Operations signed a sales and distribution agreement to cooperatively sell and distribute each others products to their respective areas of influence. The agreement lays the groundwork for further collaboration between Sharps and Roncadelle to develop and manufacture next-generation drug delivery products.
We believe that this is just the beginning of Sharps collaboration with Roncadelle. It expands our footprint as a premier manufacturer and a distributor of smart safety syringes as well as a collaborative leader in the development of drug delivery systems for the world market, commented Sharps Technology CEO Robert Hayes. Sharing our product portfolio gives healthcare customers one-stop access to a broad range of delivery solutions and price points to match their needs and strictest requirements.
As part of the cooperative agreement, Sharps and Roncadelle intend to collaborate on the development of new drug delivery products. The need for innovative injection solutions is expected to grow over the next several years as injectables are the first choice for therapies as diverse as vaccines, biologics, weight loss and maintenance, ophthalmics, gene therapies and diabetes management.
The collaboration between Sharps and Roncadelle potentially creates a very important player in advancing these market opportunities through the development of technologies such as prefilled syringes, needle guard systems, auto-injectors and injector pen devices. In light of the recent FDA safety communications concerning the use of syringes manufactured in China, the company believes that the market for safer syringes produced in the U.S. and Europe will grow at an accelerated rate.
Featured photo by LookerStudio on Shutterstock.
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