FORT LAUDERDALE, FL / ACCESSWIRE / November 22, 2024 / 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 a new generic prescription drug.

The newly launched drug is Ursodiol, a generic version of URSO DS. Ursodiol, also known as ursodeoxycholic acid (UDCA), is indicated for the management of cholestatic liver diseases, including primary biliary cirrhosis (PBC). Ursodiol is also used to (i) dissolve gallstones in people who do not want surgery or cannot have surgery to remove gallstones, or (ii) prevent the formation of gallstones in overweight people engaged in a rapid weight loss program. Nora Pharma's Ursodiol is available for the Canadian market in 250 mg and 500 mg tablets.

The market size of Ursodiol in Canada is part of the broader global Ursodiol market, which is projected to grow significantly. The global Ursodiol market was valued at approximately $457.9 million in 2022 and is expected to reach around $933.9 million by 2029, with a compound annual growth rate (CAGR) of 10.7%.

"This is the third new product we have introduced this year. We continue to grow through the addition of new products to strengthen our presence in the Canadian generic drugs market which was estimated to be $9.7 billion in 2023 and is projected to grow to $19.2 billion by 2032," said Dr. Steve Slilaty, CEO of Sunshine Biopharma.

About Sunshine Biopharma Inc.

Sunshine Biopharma currently has 63 generic prescription drugs on the market in Canada and 31 additional drugs scheduled to be launched in the remainder of 2024 and 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: .

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SOURCE: Sunshine Biopharma, Inc.