SOHM India Penetrates $2.5 Billion West African Pharmaceutical Market With Bulk Purchase Order And Delivery Of First 2 Million Tablets Of Generic Drug Sildenafil Citrate
BUENA PARK, CA, October 27, 2010 – SOHM, Inc. (Pink Sheets: SHMN), a generic pharmaceutical manufacturer that produces and markets generic drugs covering all major treatment categories announced today that SOHM India has successfully executed a bulk purchase order and delivered the first 2 million tablets of the generic drug Sildenafil citrate-100 mg in West Africa. The pharmaceutical order is expected to drive revenue in 2010 and 2011 as future orders are delivered. The purchase order marks a significant step in obtaining market share in West Africa’s $2.5 billion pharmaceutical market.
Comprising almost a third of the whole continent, West Africa is a region with a population of approximately 250 million. Imports of finished products account for over 60% of the African pharmaceutical industry. According to IMS forecast, Nigeria’s Pharmaceutical business is worth $2.5 billion serving 150 million Nigerians. The pharmaceutical market in West Africa has been growing 5% – 7% annually.
“The potential for continued revenue growth in West Africa is very significant,” 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 and also serve populations in dire need of affordable medications. There is also a growing demand for lifestyle drugs such as Sildenafil citrate which we will capitalize on with the SOHM brand. We will continue to explore other collaborations within Africa that will drive sales of our products across the continent.”
About SOHM, Inc.
SOHM, Inc. is a generic pharmaceutical manufacturer that produces and markets generic drugs covering all major treatment categories. Global headquarters is located in North America with manufacturing sites in India. Generic pharmaceuticals are exported globally with a focus on distribution in emerging markets in Africa, Latin America, and Southeast Asia. www.sohm.com
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