Sharps Technology Positioned to Address Supply Chain Disruptions Resulting from Recent FDA Recalls, Warnings, and Tariffs on Chinese Manufactured Syringes
NEW YORK, May 28, 2024 (GLOBE NEWSWIRE) -- Sharps Technology, Inc., (NASDAQ: “STSS” and “STSSW”), an innovative medical device and pharmaceutical packaging company offering patented, best-in-class syringe products, issues a shareholder update from Robert Hayes, the Company’s Chief Executive Officer.
- Sharps CEO issues letter to shareholders on FDA actions and tariffs affecting Chinese syringes.
- The tariff rate on Chinese-made syringes and needles was raised from 0% to 50% by the Biden Administration in May 2024.
- In response to these developments, Sharps Technology is experiencing heightened interest in our syringe products, and we are actively pursuing these opportunities within the healthcare market.
- Our innovative products, such as the SecureGard and SoloGard syringe lines, are designed to address the specific safety and performance concerns highlighted by the FDA .