FORT LAUDERDALE, FL / ACCESS Newswire / June 11, 2025 / 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 Gabapentin, a new generic prescription drug in the therapeutic class of anticonvulsants.
Gabapentin is a generic version of Neurontin®. Gabapentin is an anticonvulsant medication used to treat neuropathic pain and epilepsy. It is also used for the treatment of pain caused by diabetic neuropathy, central pain, and postherpetic neuralgia (a painful condition that can occur after a shingles outbreak). Nora Pharma's Gabapentin is available in strengths of 100 mg, 300 mg, and 400 mg and comes in bottles of 500 capsules. Nora Pharma elected to supply its Gabapentin in capsule format which is the market leader owing to their ease of administration, including in children and the elderly.
Gabapentin acts by decreasing the activity of the voltage-dependent calcium channel protein, alpha-2/delta-1. By binding to alpha-2/delta-1, Gabapentin lowers the release of excitatory neurotransmitters and as a result, reduces excess excitation of the neuronal networks in the brain and spinal cord.
According to GlobeNewswire, the global Gabapentin market was valued at $1.92 billion in 2024 and is projected to reach $3.07 billion by 2030. The growth in market size for Gabapentin is driven by (i) increasing prevalence of neurological disorders, (ii) expanding applications beyond neuropathic pain and epilepsy, (iii) shift away from the use of opioids for pain management, and (iv) aging population where individuals are more prone to having chronic pain and neurological disorders.
Canada represents approximately 1.2% of the global pharmaceutical market for Gabapentin. Despite its relatively small share, Canada is ranked as the eighth-largest pharmaceutical market in the world (Statista). Factors contributing to Canada's prominence in this sector include innovative pharmaceutical sector, aging population, and increasing healthcare expenditures.
"At Sunshine Biopharma, we are unwavering in our commitment to fortifying our presence in Canada's dynamic $9.4 billion generic drugs market, which is forecasted to nearly double to $19.2 billion by 2032," said Dr. Steve Slilaty, CEO of the Company. "By steadily expanding our product offerings, investing in research, and maintaining the highest standards of quality, we aim to make a meaningful difference in the lives of patients as we continue to shape the future of affordable medicine."
About Sunshine Biopharma Inc.
Sunshine Biopharma currently has 71 generic prescription drugs on the market in Canada and more than 12 additional drugs planned to be launched in the remainder of 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: www.sunshinebiopharma.com.
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Safe Harbor Forward-Looking Statements
This press release contains forward-looking statements which are based on current expectations, forecasts, and assumptions of Sunshine Biopharma Inc. (the "Company") that involve risks as well as uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected. These statements appear in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, including statements related to the Company's drug development activities, financial performance, and future growth. These risks and uncertainties are further described in filings and reports by the Company with the U.S. Securities and Exchange Commission (SEC). Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors detailed from time to time in the Company's filings with the SEC. Reference is hereby made to cautionary statements and risk factors set forth in the Company's most recent SEC filings.
For more information, please contact:
Camille Sebaaly, CFO
Direct Line: 514-814-0464
camille.sebaaly@sunshinebiopharma.com
SOURCE: Sunshine Biopharma Inc.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/healthcare-and-pharmaceutical/sunshine-biopharma-launches-generic-gabapentin-for-neuropathic-pain-i-1038140
