SBFM - What Does Sunshine Biopharma’s Acquisition Of Nora Pharma Mean For The Generic Prescription Drugs Market?

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The generic drug markethas been growing since 1984 when the Hatch-Waxman Act encouraged manufacturing genericsand developed a framework to regulate them.

Apart from namedifference, genericdrugs work the same as an already marketed brand-name drug indosage form, safety, strength, administration, quality, performancecharacteristics and intended use.

Generic drug manufacturers can apply to the U.S.Food and Drug Administration (FDA) for permission to produce drugswhen a patent expires. Generic drugs typically cost 80% to 85% lessthan branded drugs.

If you look at your medications, chances are you will find oneor more generic drugs such as ibuprofen, famotidine, metformin,metoprolol and amphetamine salt combo.

Growing GlobalGeneric Drugs Market

The popularity, need for and use of these drugs are fueling thegrowth of the global generic drug market, which is expected to grow at a compound annual growth rate (CAGR) of 7.24% from 2022 to 2027.The market is expected to be worth $311.8 billion this year and $442.3billion by 2027.

Companies like Sol-Gel Technologies Ltd. (NASDAQ: SLGL), Viatris Inc. (NASDAQ: VTRS) and Sunshine Biopharma Inc. (NASDAQ: SBFM) are researching, running trials and releasing productsto meet demand.

Strategic Acquisition By SunshineBiopharma

Asthe market continues to grow, strategic acquisitions like SunshineBiopharma ’s recent purchase of Nora Pharma Inc. could help shape the future of the generic drugs market.

Nora Pharma is now awholly owned subsidiary of Sunshine after the acquisition of its outstanding shares. The purchase price of approximately $21.9million was paid by cash, Sunshine Biopharma common stock, and anearn-out amount.

Nora Pharma is one of North America’s fastest-growing genericpharmaceutical companies, according to the news release issued Oct.20. This acquisition allows Sunshine Biopharma to expand itsoperations into generic prescription drugs and biosimilars.

“The strategicacquisition of Nora Pharma significantly expands our revenue streamand is expected to generate multiyear top-line and bottom-line growthgoing forward,” Sunshine Biopharma CEO Steve Slilaty said. “Thisacquisition gives Sunshine a solid position in the genericprescription drugs industry and brings us closer to our objective ofbecoming a fully integrated pharma company.”

Nora Pharma Founder andPresident said Sunshine will provide additional expertise that willhelp Nora with its accelerated growth plan to provide high-quality,affordable medicines to the Canadian market.

Nora Pharma has 36employees working at its 15,000-square-foot Health Canada-certifiedfacility and offers over 50 pharmaceutical products, including genericprescription drugs, over-the-counter products and biosimilars.

Nora Pharma and itsservice arm, which commercializes under the name Lea Solutions, willcontinue to operate without changes.

“Nora Pharma will operate as a subsidiary ofSunshine Biopharma, with Mr. Chamoun as president,” Slilaty said.“We are happy to have the Nora employees join the Sunshine Biopharmafamily.”

About Sunshine Biopharma

Sunshine Biopharma(NASDAQ: SBFM) is a fully integrated pharmaceutical company offeringand researching life-saving medicines in a variety of therapeuticareas, including oncology and antivirals.

In addition to working with the University ofArizona to develop a treatment for COVID-19, the company also develops Adva-27a ,a unique anti-cancer compound.

Sunshine Biopharma reports that tests conducted todate have demonstrated the effectiveness of Adva-27a at destroyingmultidrug-resistant cancer cells, including pancreatic, small-celllung, breast and uterine sarcoma cancer cells.

Clinical trials forpancreatic cancer indication will be conducted at McGillUniversity’s Jewish General Hospital in Montreal, Canada, thecompany said. Sunshine Biopharma is also engaged in developing a novelanti-cancer mRNA called K1.1 .

The company says thedata collected to date has shown that K1.1 mRNA is capable ofdestroying cancer cells in vitro, including multidrug-resistant breastcancer cells (MCF-7/MDR), ovarian adenocarcinoma cells (OVCAR-3) andpancreatic cancer cells (SUIT-2).

Studies using nontransformed (normal) human cells(HMEC) have shown that K1.1 mRNA had little or no cytotoxic effects.K1.1 mRNA is readily adaptable for delivery to patients using theproven mRNA vaccine technology.

Learn more about the company here .

Inaddition to working with the University of Arizona on the developmentof a treatment for COVID-19, Sunshine Biopharma is engaged in thedevelopment Adva-27a, a unique anticancer compound. Tests conducted todate have demonstrated the effectiveness of Adva-27a at destroyingMultidrug Resistant Cancer Cells, including Pancreatic Cancer cells,Small-Cell Lung Cancer cells, Breast Cancer cells, and Uterine Sarcomacells. Clinical trials for Pancreatic Cancer indication are planned tobe conducted at McGill University’s Jewish General Hospital inMontreal, Canada. Sunshine Biopharma is also engaged in thedevelopment of a novel anticancer mRNA called K1.1. The data collectedto date have shown that K1.1 mRNA is capable of destroying cancercells in vitro including multidrug resistant breast cancer cells(MCF-7/MDR), ovarian adenocarcinoma cells (OVCAR-3), and pancreaticcancer cells (SUIT-2). Studies using non-transformed (normal) humancells (HMEC) have shown that K1.1 mRNA had little or no cytotoxiceffects. K1.1 mRNA is readily adaptable for delivery into patientsusing the proven mRNA vaccine technology.

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Contact Details

Christine Petraglia -TraDigital IR

+1 917-633-8980

investors@sunshinebiopharma.com

CompanyWebsite

https://sunshinebiopharma.com/

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