Sunshine Biopharma Expands Its Product Line to 69 Generic Prescription Drugs by Launching Olanzapine and Olanzapine ODT
Rhea-AI Summary
Sunshine Biopharma (NASDAQ:SBFM) has expanded its product line through its Canadian subsidiary, Nora Pharma, by launching two new generic prescription drugs: Olanzapine and Olanzapine ODT. Olanzapine, a generic version of Zyprexa, is used for treating schizophrenia, bipolar I disorder, and treatment-resistant depression when combined with other medications.
The products will be available in the Canadian market in various strengths: Olanzapine in bottles of 100 tablets (2.5mg to 20mg) and Olanzapine ODT in blisters of 30 tablets (5mg to 20mg). The launch aligns with market growth expectations driven by increasing mental health issues, with approximately 14 million adults reporting serious mental illness in 2021.
The Canadian generic drugs market, currently valued at $9.4 billion, is projected to reach $19.2 billion by 2032.
Positive
- Entry into growing mental health medication market with two new generic drug products
- Expansion of product portfolio to 69 generic prescription drugs
- Targeting Canadian generic drugs market with projected growth from $9.4B to $19.2B by 2032
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, SBFM gained 0.39%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
FORT LAUDERDALE, FL / ACCESS Newswire / January 21, 2025 / 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 newly launched drugs are Olanzapine and Olanzapine ODT. Olanzapine is a generic version of Zyprexa®. Olanzapine is indicated for the acute and maintenance treatment of schizophrenia and related psychotic disorders. Olanzapine is also indicated for the acute treatment of manic or mixed episodes of bipolar I disorder. Nora Pharma's Olanzapine is available in bottles of 100 tablets for the Canadian market in strengths of 2.5mg, 5mg, 7.5mg, 10mg, 15mg and 20mg. Nora Pharma's Olanzapine ODT (Orally Disintegrating Tablets) is available for the Canadian market in strengths of 5mg, 10mg, 15mg and 20mg in blisters of 30 tablets.
In addition to its use as a monotherapy, Olanzapine is used in combination with Lithium or Valproate for treatment of depressive episodes of bipolar I disorder and in combination with Fluoxetine for treatment-resistant depression.
The olanzapine market is expected to see steady growth in the coming years. The projected increase in emotional illness and mental health issues is set to drive the expansion. In 2023, a report from the Substance Abuse and Mental Health Services Administration (an agency within the U.S. Department of Health and Human Services) revealed a staggering statistic of
"We continue to strengthen our presence in the Canadian generic drugs market, currently estimated to be at
About Sunshine Biopharma Inc.
Sunshine Biopharma currently has 69 generic prescription drugs on the market in Canada and 20 additional drugs scheduled to be launched in 2025. Among the new drugs to be launched 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. 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 more information, please contact:
Camille Sebaaly, CFO
Direct Line: 514-814-0464
camille.sebaaly@sunshinebiopharma.com
SOURCE: Sunshine Biopharma Inc.
View the original press release on ACCESS Newswire
FAQ
What new generic drugs did Sunshine Biopharma (SBFM) launch in January 2025?
What is the total number of generic prescription drugs in SBFM's portfolio after the new launches?
What are the available strengths for SBFM's Olanzapine in the Canadian market?
What is the projected size of the Canadian generic drugs market that SBFM is targeting by 2032?
What medical conditions can SBFM's new Olanzapine drug treat?
