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FORT LAUDERDALE - Sunshine Biopharma Inc. (NASDAQ:SBFM), a pharmaceutical company with a market capitalization of $7.7 million and impressive revenue growth of 35.5% in the last twelve months, announced Wednesday that its Canadian subsidiary, Nora Pharma Inc., has launched Gabapentin, a generic version of Neurontin, in the Canadian market.
The anticonvulsant medication, used to treat neuropathic pain and epilepsy, will be available in 100 mg, 300 mg, and 400 mg strengths in bottles of 500 capsules. The company opted for capsule format, citing ease of administration for children and elderly patients.
Gabapentin works by binding to the voltage-dependent calcium channel protein alpha-2/delta-1, which reduces excess neuronal excitation in the brain and spinal cord.
The global Gabapentin market was valued at $1.92 billion in 2024 and is projected to reach $3.07 billion by 2030, according to market data cited in the company’s press release. Canada represents approximately 1.2% of the global pharmaceutical market for this medication. With a gross profit margin of 30.48% and recent stock performance showing an 11.9% gain over the past week, InvestingPro analysis suggests the stock is currently undervalued. Subscribers can access 11 additional ProTips and detailed financial metrics to better evaluate this investment opportunity.
"At Sunshine Biopharma, we are unwavering in our commitment to fortifying our presence in Canada’s dynamic $9.4 billion generic drugs market," said Dr. Steve Slilaty, CEO of the company, in the announcement.
Sunshine Biopharma currently has 71 generic prescription drugs on the market in Canada with plans to launch more than 12 additional drugs throughout the remainder of 2025. The company is also conducting research on a liver cancer treatment and a SARS Coronavirus infections treatment.
The information in this article is based on a press release statement from the company.
In other recent news, Sunshine Biopharma Inc. has announced several key developments. The company launched Lurasidone, a generic version of Latuda®, aimed at treating schizophrenia and bipolar depression, through its Canadian subsidiary, Nora Pharma Inc. Additionally, Sunshine Biopharma released Everolimus, a generic equivalent of Afinitor®, used for treating advanced cancers and a rare brain tumor, also through Nora Pharma. The company secured approximately $2.46 million in a registered direct offering with institutional investors, intended to support general corporate purposes and working capital.
Sunshine Biopharma is advancing its proprietary drug development, with recent studies showing promising results for its K1.1 mRNA Lipid Nanoparticle as a potential treatment for liver cancer. The company has also entered an agreement to market two new generic antibiotics in Canada, pending regulatory approval. These developments align with Sunshine Biopharma’s strategy to expand its portfolio, which currently includes 70 generic prescription drugs in Canada. Plans are underway to launch over 15 new drugs by the end of 2025, including NIOPEG®, a biosimilar of NEULASTA®. The company’s announcements reflect its ongoing efforts to enhance its presence in the pharmaceutical market.
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