Sunshine Biopharma Launches Two New Generic Prescription Drugs

Rhea-AI Summary

Sunshine Biopharma (NASDAQ:SBFM) has announced the launch of two new generic prescription drugs through its Canadian subsidiary, Nora Pharma Inc. The first product is Varenicline, a generic version of Champix®, used for smoking cessation. It's available in 0.5 mg and 1 mg tablets, plus a starter kit. The second is Betahistine, a generic version of Serc®, for treating vertigo, available in 8 mg, 16 mg, and 24 mg scored tablets.

These additions expand Nora Pharma's portfolio to 63 products, strengthening its position in the $9.7 billion Canadian generic drug market. Sunshine Biopharma's CEO, Dr. Steve Slilaty, expressed anticipation for more product launches in the near future, while Nora Pharma's president, Mr. Malek Chamoun, highlighted expectations for continued rapid growth.

Positive

• Launch of two new generic prescription drugs, expanding product portfolio to 63 items
• Entry into smoking cessation and vertigo treatment markets
• Strengthening presence in the $9.7 billion Canadian generic drug market
• Plans for additional product launches in the near future

Negative

• None.

Insights

Pharmaceutical Industry Analyst

The launch of two new generic prescription drugs by Sunshine Biopharma's subsidiary, Nora Pharma, is a significant development for the company. Varenicline (generic Champix®) for smoking cessation and Betahistine (generic Serc®) for vertigo treatment expand their product portfolio to 63 offerings. This strategic move positions SBFM to capture a larger share of Canada's $9.7 billion generic drug market. The diversification into smoking cessation and vertigo treatments demonstrates the company's commitment to growth across various therapeutic areas. With a market cap of just $3.5 million, this expansion could potentially drive substantial revenue growth, especially considering the widespread use of smoking cessation aids and the prevalence of vertigo in aging populations. Investors should monitor upcoming financial reports to assess the impact of these launches on SBFM's revenue and market share.

Market Research Analyst

Sunshine Biopharma's entry into the smoking cessation and vertigo treatment markets with generic alternatives is a shrewd move. The global smoking cessation market is projected to reach $64.1 billion by 2026, growing at a CAGR of 16.9%. Similarly, the vertigo treatment market is expected to hit $1.8 billion by 2027. By offering cost-effective generic versions, SBFM is well-positioned to capture market share from established brands. The company's strategy of rapid expansion in the generic drug space could lead to accelerated revenue growth, potentially outpacing its current market valuation. However, investors should be aware that success in the generic drug market often depends on volume sales and efficient operations to maintain profitability amidst price competition.

FORT LAUDERDALE, FL / ACCESSWIRE / September 26, 2024 / Sunshine Biopharma, Inc. (NASDAQ:SBFM) (the "Company"), a pharmaceutical company offering and researching life-saving medicines in a variety of therapeutic areas including oncology and antivirals today announced that its wholly owned Canadian subsidiary, Nora Pharma Inc., has launched two new generic prescription drugs.

The first product is Varenicline, a generic version of Champix^®. Varenicline is used as a smoking cessation product and is available in formats of 0.5 mg and 1 mg tablets, as well as a convenient starter kit.

The second is Betahistine, a generic version of Serc^®, to treat patients with vertigo. Betahistine is available in formats of 8 mg, 16 mg and 24 mg scored tablets.

"Propelled by Sunshine Biopharma's strategic support, Nora Pharma plans to continue its rapid top-line and bottom-line growth," said Mr. Malek Chamoun, president of Nora Pharma.

"The addition of these two new products to our existing portfolio of 61 products will strengthen our presence in the Canadian $9.7 billion a year generic drug market," said Dr. Steve Slilaty, CEO of Sunshine Biopharma. "We look forward to additional launches later this year and next year."

About Sunshine Biopharma

Sunshine Biopharma currently has 61 generic prescription drugs on the market in Canada and 32 additional drugs scheduled to be launched in the remainder of 2024 and in 2025. Among the new drugs to be launched in 2024 is NIOPEG®, a biosimilar of NEULASTA®. Like NEULASTA®, NIOPEG® is a long-acting form of recombinant human granulocyte colony-stimulating factor (filgrastim). It is indicated to decrease the incidence of infection in patients with non-myeloid malignancies receiving anti-neoplastic therapy.

In addition, Sunshine Biopharma is conducting a proprietary drug development program which is comprised of (i) K1.1 mRNA, an mRNA-Lipid Nanoparticle targeted for liver cancer, and (ii) PLpro protease inhibitor, a small molecule for treatment of SARS Coronavirus infections, including Long-Covid. For more information, please visit: www.sunshinebiopharma.com.

All registered trademarks are the property of their respective owners.

Safe Harbor Forward-Looking Statements

This press release contains forward-looking statements which are based on current expectations, forecasts, and assumptions of Sunshine Biopharma, Inc. (the "Company") that involve risks as well as uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected. These statements appear in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, including statements related to the Company's drug development activities, financial performance, and future growth. These risks and uncertainties are further described in filings and reports by the Company with the U.S. Securities and Exchange Commission (SEC). Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors detailed from time to time in the Company's filings with the SEC. Reference is hereby made to cautionary statements and risk factors set forth in the Company's most recent SEC filings.

For Additional Information Contact:

Camille Sebaaly, CFO
Direct Line: 514-814-0464
camille.sebaaly@sunshinebiopharma.com

SOURCE: Sunshine Biopharma, Inc.

View the original press release on accesswire.com

FAQ

What new generic drugs has Sunshine Biopharma (SBFM) launched?

Sunshine Biopharma (SBFM) has launched two new generic drugs: Varenicline, a generic version of Champix® for smoking cessation, and Betahistine, a generic version of Serc® for treating vertigo.

How many products does Sunshine Biopharma's (SBFM) subsidiary Nora Pharma now have in its portfolio?

With the addition of these two new generic drugs, Nora Pharma, Sunshine Biopharma's (SBFM) subsidiary, now has a total of 63 products in its portfolio.

What is the size of the Canadian generic drug market that Sunshine Biopharma (SBFM) is targeting?

Sunshine Biopharma (SBFM) is targeting the Canadian generic drug market, which is valued at $9.7 billion annually.

Does Sunshine Biopharma (SBFM) plan to launch more products in the future?

Yes, according to the CEO of Sunshine Biopharma (SBFM), the company is looking forward to additional product launches later this year and next year.