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FORT LAUDERDALE - Sunshine Biopharma Inc. (NASDAQ:SBFM), a pharmaceutical firm focused on developing life-saving drugs in various therapeutic areas, has announced through its Canadian subsidiary, Nora Pharma Inc., the acquisition and launch of a generic gastrointestinal drug, with another to follow within the next nine months. The company, which has demonstrated strong revenue growth of 62% in the last twelve months and maintains a healthy current ratio of 5.74, appears positioned for expansion. InvestingPro analysis indicates the company holds more cash than debt on its balance sheet, suggesting financial flexibility for future growth.
The newly released medication is Prucalopride, a generic form of Resotran®, known as Motegrity® in the United States. It is designed to treat chronic idiopathic constipation in adult women who have not found relief from laxatives. Prucalopride stimulates 5-HT4 receptors in the gastrointestinal tract, enhancing motility and offering potential relief for patients.
Prucalopride is now available in Canada in blister packs containing 28 tablets, with dosages of 1 mg and 2 mg. This and the forthcoming drug are part of Sunshine Biopharma’s strategy to penetrate the chronic idiopathic constipation market, which is part of the larger gastrointestinal market with annual sales exceeding $200 million CAD, according to IQVIA data. With a gross profit margin of 30.78%, the company’s commercial strategy appears promising, though InvestingPro data reveals additional insights about the company’s market position and growth potential. Subscribers can access 8 more exclusive ProTips and detailed financial metrics.
The chronic idiopathic constipation market is projected to grow at a CAGR of 4.64% from 2024 to 2034, driven by an increased prevalence of gastrointestinal disorders and greater awareness of effective treatments, as reported by BioSpace.
Dr. Steve Slilaty, CEO of Sunshine Biopharma, expressed optimism about the potential growth within the gastrointestinal sector due to advancements in healthcare infrastructure and the availability of effective medications. The company plans to introduce additional products in 2025.
Sunshine Biopharma currently markets 70 generic prescription drugs in Canada and anticipates the launch of 15 more drugs this year, including NIOPEG®, a biosimilar of NEULASTA® indicated to reduce infection in certain cancer patients.
In addition to its generic drug offerings, Sunshine Biopharma is engaged in proprietary drug development, targeting liver cancer and SARS Coronavirus infections. While the company’s ambitious pipeline shows promise, InvestingPro analysis suggests careful monitoring of cash burn rates will be crucial for long-term success. For deeper insights into SBFM’s financial health and growth prospects, including Fair Value analysis and comprehensive financial metrics, explore InvestingPro’s advanced analytics platform.
This press release includes forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially from those anticipated. These statements are based on current expectations and assumptions and are subject to risks detailed in the company’s SEC filings. The information provided is based on a press release statement from Sunshine Biopharma Inc.
In other recent news, Sunshine Biopharma Inc. announced the release of two new generic drugs in Canada through its subsidiary, Nora Pharma Inc. The drugs, Olanzapine and Olanzapine ODT, target mental health conditions such as schizophrenia and bipolar disorder. This development aligns with the growing demand for mental health medications, driven by increased awareness and an aging population. Furthermore, Sunshine Biopharma appointed Mr. Michel Roy as its new Chief Commercial Officer, bringing over two decades of experience in the pharmaceutical industry, which is expected to enhance the company’s commercial strategies. The company continues to expand its portfolio, with plans to introduce 20 more generic drugs in 2025, including NIOPEG®, a biosimilar to NEULASTA®. Additionally, Sunshine Biopharma re-elected its board of directors and ratified Bush & Associates CPA LLC as its independent registered public accounting firm for 2024. These corporate governance actions reflect strong stockholder support and adherence to transparency standards. Sunshine Biopharma remains committed to advancing its proprietary drug development, including projects targeting liver cancer and SARS Coronavirus infections.
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