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FORT LAUDERDALE - Sunshine Biopharma Inc. (NASDAQ:SBFM), a pharmaceutical company known for its work in oncology and antivirals, has announced the release of Everolimus, a generic equivalent of Afinitor®, by its Canadian subsidiary, Nora Pharma Inc. Everolimus is approved for treating several advanced cancers and a rare brain tumor associated with tuberous sclerosis complex. According to InvestingPro data, the company has demonstrated strong revenue growth of 44.75% over the last twelve months, with a healthy gross profit margin of 30.59%.
Nora Pharma is offering Everolimus in 2.5 mg, 5 mg, and 10 mg strengths, packaged in 30-tablet blister packs. This launch aligns with the company’s strategy to expand its portfolio in the Canadian generic prescription drugs market.
The global market for Everolimus, as reported by DATAINTELO, was valued at $2.5 billion in 2023. It is expected to grow at a compound annual growth rate (CAGR) of 7.1%, potentially reaching around $4.8 billion by 2032. The Canadian market, specifically, represents about 2.2% of the global share and is growing at a CAGR of 6.4%, according to IQVIA Pharmafocus 2027. With a current market capitalization of just $4.54 million, InvestingPro analysis suggests SBFM is currently undervalued, presenting a potential opportunity for investors interested in the generic pharmaceutical space.
Dr. Steve Slilaty, CEO of Sunshine Biopharma, emphasized the company’s commitment to progress through investment in technologies, research, and strategic partnerships to deliver impactful solutions for patients.
Sunshine Biopharma currently markets 70 generic prescription drugs in Canada, with plans to launch over 15 new drugs by the end of 2025. Among the upcoming products is NIOPEG®, a biosimilar of NEULASTA®, designed to reduce infection risks in patients undergoing anti-neoplastic therapy. The company maintains a strong financial position with a current ratio of 4.11, indicating solid liquidity to support its expansion plans. Investors should note that the company’s next earnings report is scheduled for May 7, 2025, which could provide further insights into its growth trajectory.
The company is also progressing with its proprietary drug development program, which includes K1.1 mRNA for liver cancer and a PLpro protease inhibitor targeting SARS Coronavirus infections.
This announcement contains forward-looking statements based on current expectations and assumptions, which involve risks and uncertainties that could cause actual results to differ significantly. These statements and potential risks are detailed in the company’s filings with the U.S. Securities and Exchange Commission (SEC).
The information in this article is based on a press release statement from Sunshine Biopharma Inc.
In other recent news, Sunshine Biopharma Inc. has announced a registered direct offering with institutional investors, raising approximately $2.46 million. The funds, secured through the sale of shares and pre-funded warrants, are intended for general corporate purposes and to bolster working capital. Additionally, the company has reported progress in its liver cancer treatment research, specifically with its K1.1 mRNA Lipid Nanoparticle, which showed promising results in reducing tumor growth in mice. Sunshine Biopharma is also expanding its product offerings in Canada, having entered a strategic agreement to market two new generic antibiotics through its subsidiary, Nora Pharma. Furthermore, the company has launched a generic gastrointestinal drug, Prucalopride, and plans to introduce another within nine months. Sunshine Biopharma continues to grow its generic drug portfolio, now including two new generic prescription drugs, Olanzapine and Olanzapine ODT, for mental health conditions. The company plans to release more drugs, including NIOPEG®, a biosimilar to NEULASTA®, in 2025. These developments reflect Sunshine Biopharma’s ongoing efforts to expand its market presence and advance its proprietary drug development programs.
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