SOHM, Inc. has signed the Manufacturing and Supply of Skincare Topical Products with New Export Customers
Rhea-AI Summary
SOHM, Inc. (OTC PINK:SHMN), a pharmaceutical and biotechnology company, has signed a manufacturing and supply agreement for skincare topical products with new export customers. The company has dispatched its first initial purchase order of 7,500 units to a new Far East customer, which is expected to generate over a quarter million in revenue during 2024. SOHM's Carlsbad facility will handle production for ongoing regular orders.
The agreement covers human prescription topical treatments for skin care, acne, exfoliation, and anti-aging. SOHM plans to expand its business through private label agreements and CDMO activities with other domestic and export customers. The company aims to capture a substantial market share in 2024, building on its success with other product lines, including the recently introduced ABBIE kits.
Positive
- Secured new export customer for skincare products
- Initial purchase order of 7,500 units dispatched
- Expected revenue of over $250,000 in 2024 from new customer
- Plans for business expansion through private label agreements and CDMO activities
- Aims to capture substantial market share in growing skincare market
Negative
- None.
News Market Reaction – SHMN
On the day this news was published, SHMN declined 10.00%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
CHINO HILLS, CA / ACCESSWIRE / July 30, 2024 / SOHM, Inc. (OTC PINK:SHMN), a pharmaceutical and biotechnology company specializing in generic drugs, has announced today the dispatch of its first initial purchase order for manufacturing and supplying skincare products to a new Far East customer. The products, which include human prescription topical treatments for skin care, acne, exfoliation, and anti-aging, will be exported to Far Eastern countries.
Mr. Baron Night, CEO, revealed that negotiations with the new customer began in March 2024, culminating in an initial purchase order for 7,500 units. The company's Carlsbad facility will handle production, and the ongoing regular orders will generate significant revenue of over a quarter of million during the year 2024 from this new customer. Additionally, SOHM plans to expand its business through private label agreements and CDMO activities with other domestic and export customers. The initial order has already been dispatched by the company in the second quarter.
The new overseas customer, a skincare market pioneer, offers a range of proprietary formulations. SOHM is optimistic about capturing a substantial market share in 2024, building on its success with other product lines, including the recently introduced ABBIE kits.
"SOHM is very pleased to have received this new account and project." The skin care market has significantly increased in recent past years, and the company aims to capture significant market share through its customers. Mr. Night, CEO added.
The management continues and assures that SOHM achieves its target for higher revenue growth in 2024 compared to previous years, including our new ABBIE kits which is planned and expected in the current quarter.
About SOHM, Inc.:
SOHM is a biopharmaceutical company dedicated to developing and commercializing gene editing technologies for research, synthetic biology, and therapeutic applications. With a focus on precision medicine, SOHM aims to revolutionize the treatment of genetic diseases by providing safe, efficient, and targeted gene editing solutions. Through strategic collaborations and groundbreaking research, SOHM is at the forefront of advancing the field of gene therapy.
To learn more about SOHM, Inc., visit www.SOHM.com.
SOHM, Inc.:
Name: Baron Night, CEO/Dr. David Aguilar, COO
Email: info@sohm.com
Phone: (714) 522-6700
Safe Harbor Statement:
This news release contains "forward-looking statements," which are statements that are not purely historical and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development-stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report for the most recent fiscal year and our quarterly reports uploaded from time to time on OTCMarkets.com.
SOURCE: SOHM, Inc
View the original press release on accesswire.com
FAQ
What new agreement has SOHM, Inc. (SHMN) announced?
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