CHINO HILLS, Calif., Dec. 05, 2023 (GLOBE NEWSWIRE) -- via IBN -- SOHM, Inc. (OTC PINK: SHMN) (the “Company”), a pharmaceutical, nutraceutical and cosmeceutical Company that manufactures and markets generic drugs covering numerous treatment categories, announced:
SOHM Announces Business Outlook for 2024 for each of its Business Units.
SOHM, Inc. is organized into the following business units:
-- OTC Self-care (over-the-counter nutraceuticals and cosmeceuticals)
-- CDMO, Contract Development Manufacturing (contract manufacturing services)
-- ABBIE, Gene-editing Bio-kits
For each business unit, the Company will provide a 2024 outlook along with relevant business unit-specific status on: market backgrounds, business strategy, business model, branding strategy, sales channels, and commercial status.
Business Unit: OTC Self-care
Market Background and Overview
OTC Self-care products are sold by brick-and-mortar pharmacies, retail chain stores, C-stores and online. These products are sold without a prescription.
In 2022, the Consumer Healthcare Products Association (“CHPA”) reported that medicinal OTC product sales reached $41 billion with the average household spending $338 annually. (Source: CHPA 2022 Link.)
Business Strategy, Products and Approaches
In Q4-2023, the Company launched a suite of 13 SOHM Nutrients’ chewable. These chewable are vitamin and mineral supplements formulated for everyday health maintenance. The Company intends to expand the product portfolios in Q1-2024 and anticipates deriving 20-25% of its revenues from nutraceutical and OTC cosmeceutical products during the year 2024.
SOHM Nutrients’ Chewable will also be available for retail and bulk purchasing through Amazon.com.
Business Unit: Branded Generics
Market Background and Overview
Pharmaceuticals require a prescription from a doctor for the consumer to buy and use. Each year, several pharmaceutical products come off patents (i.e. patent expired). When a pharmaceutical product's patent expires, manufacturers have the opportunity to utilize the patent and produce the identical product by utilizing the previously patented chemical composition. These products are commonly referred to as generic drugs. Many generic manufacturers go the extra step by branding their generic products, hence the term “branded generics.”
The branded generics market size in the USA is $238 billion and growing, per Global Market Insights. (Source: GMI 2022 Link.)
Business Strategy, Products and Approaches
The Company confirms it has the necessary requisites to become a branded-generic manufacturer, including: scientific personnel, FDA-approved manufacturing facilities, as well as an appropriate marketing and sales strategy.
The Company aims to finish 2024 with a total of 20 branded generics in the market and manufacturing of its branded generic lineup. The Company anticipates deriving 50-55% of its revenues from the branded generic business division during the year 2024.
Business Unit: CDMO Services
Market Background and Overview
CDMO (Contract Development Manufacturing Organization).
SOHM’s CDMO business unit consists of contractors to drug developers who specialize in providing contract development and manufacturing services to the pharmaceutical industry.
The USA CDMO market is reported to be $136 billion in 2022 per Vision Research Reports (Source: VRR 2022 Link) with a CAGR (compounded annual growth rate) of 6.13%.
Outlook 2024: CDMO Services
The Company already has orders for its CDMO services and will launch two units to perform the manufacturing for these CDMO clients by 4Q-2023 and into 2024.
The Company anticipates deriving 20-25% of its revenues from its CDMO business unit during the year 2024.
Business Unit: Biotech Gene-Editing Kit
Market Background and Overview
Gene-editing is a scientific method for inserting genetic materials into the DNA of a cell. One can compare this process to rewriting code in a software application.
Gene-editing companies are valued in the billions, with their gene-editing technologies licensed for billions. Even start-ups in gene-editing are raising capital at $50 million for early research.
The gene-editing market is reported to be worth $5.3 billion in 2023 and projected to reach $10.6 billion by 2028 with a CAGR of 15%. (Source: PR Newswire 2023 Link.)
The global biotechnology kit market is estimated at $593 billion in 2022 with a 10.9% CAGR between 2023 and 2030. (Source: 2023, GrandViewResearch.com.)
The Company acquired a gene-editing technology called ABBIE as previously announced. SOHM intends to develop ABBIE into a gene-editing kit for biotech companies, academic institutions and pre-clinical testing companies, which will allow them to deliver genetic materials to a specific locus on a target cell’s DNA.
In the Business-to-Business model, the ABBIE gene-editing kits can be:
-- Sold as off-the-shelf kits, or
-- Licensed out
Product Development
As of Nov 2023, the Company is expanding on its research and development of ABBIE generated pre- clinical data conducted in isolated human T cells. In Q3-2024, the Company initiated a development collaboration with UACI, a leading science and tech startup incubator that is directly connected to the University of Arizona.
Facilities
The Company will be manufacturing its ABBIE gene-editing kit at its manufacturing facilities in San Diego and Carlsbad.
Interim scientific results from R&D will be available during SOHM’s participation at:
April 2024: American Association of Cancer Research 2024 in San Diego, CA
May 2024: SynbioBeta 2024 in San Jose, CA
Outlook 2024: ABBIE, Gene-editing Bio-kits
The Company is planning to commence its first ABBIE kit manufacturing within 2024.
The Company is expanding its revenue growth in various pharmaceutical and biotech sectors. It has set a 2024 target and is taking steps to achieve it. It wants to excel in cell therapy and gene editing. It expects to earn several million from its business units, including ABBIE. This estimate is based on its internal actions, current opportunities, licensing deals, and kit adoption. This was announced by Mr. Baron Night, CEO and president, and Dr. David Aguilar, COO.
About SOHM, Inc.
SOHM, Inc. is a growing generic pharmaceutical manufacturing and marketing Company with a vision of “Globalè Prospèro” that aims to build continuous growth. SOHM manufacturing and marketing targets rapidly growing healthcare segments such as nutraceuticals, cosmeceuticals and other major therapeutic segments. SOHM is headquartered in North America with manufacturing alliances in India and strategic alliances with U.S. manufacturing facilities. Although SOHM’s generic pharmaceuticals are exported globally and were introduced to the USA in early 2013, SOHM continues its focus on distribution to emerging markets in Africa, Latin America and Southeast Asia.
To learn more about SOHM, Inc., visit www.SOHM.com
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.
