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SOHM, Inc. (PINKSHEETS: SHMN), a generic pharmaceutical manufacturer that produces and markets generic drugs covering all major treatment categories announced today a corporate update highlighting its global expansion and record revenue growth as a generic drug manufacturer. During the past six months the Company has achieved several important milestones which have positioned SOHM as a leading manufacturer and distributor of generic pharmaceuticals to global emerging markets. These milestones include:
Expanding and streamlining SOHM India's licensed centralized manufacturing facility for generic pharmaceutical products. The fully licensed pharmaceutical drug manufacturing facility provides product distribution to African, Latin American, and Southeast Asian target markets and also provides valuable credibility within our core market in India. Product offerings increased to a total of 280 private label generic drugs.
Increased generic drug penetration within targeted emerging pharmaceutical markets in Southeast Asia; specifically in Indonesia, Thailand, the Philippines, and Malaysia. Southeast Asia is the fourth-largest pharmaceutical market in the world and is also the world's fastest-growing pharmaceutical market.
Appointed two new distributors in Northern India covering the largest states of India. The domestic pharmaceutical market in India continues to grow and is currently over $10 billion in annual sales. Drug production and distribution capabilities expanded in India and increased production ability to emerging markets in Africa, Latin America, and Southeast Asia.
SOHM has grown internationally from 3 employees this time last year to 42 this year and has surpassed all benchmarks set in 2009.
SOHM Reported Record Revenue Increase of 600% For The First Quarter of 2010.
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For those interested in SHMN's marketing program aimed at expanding its market share internationally, below are two countries the Company has pursued which have indicated robust growth potential:
(1) India The company’s management expressed its hope that the company will benefit from its manufacturing base in India. The company’s Vice President for Corporate Strategy, Shailesh Shah said, “SOHM's strategy and commitment to offer medicine to all people in India where many are under the poverty line has rewarded us with a loyal customer base and we will continue to build the SOHM brand throughout India.”
(2) Philippines The company has also received $750,000 worth of purchase order for pharma distribution in Philippines. The Philippine drug market is expected to be worth $4 billion by 2012.
(3) Africa SHMN announonced that has signed a sales and marketing agreement to sell its branded generic pharmaceutical products in Africa. Sales will begin in Uganda, Tanzania, and Zambia under the SOHM brand as soon as the necessary measures have been completed in each country. All of the generic drugs will be produced by SOHM’s India-based licensed manufacturing facility.
Stated Shailesh Shah, Vice President for Corporate Strategy at SOHM, Inc. “We made a strong commitment to globalize our branded generic pharmaceutical product line and we are well on our way with our new partner in Africa. We have rapidly expanded our market share in India and feel confident we will be very successful in Africa as well. Africa’s challenges, like high cases of disease and booming populations, are solid market opportunities..."
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Another Announcement SOHM Reports Consecutive Record Quarters With 1,000 Percent Year-Over-Year Revenue Increase for the Second Quarter 2010
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