FORT LAUDERDALE, FL / ACCESS Newswire / July 2, 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 NIOPEG®, the Company's first Biosimilar drug on the market.
NIOPEG® is a Biosimilar comparable to the reference biologic drug NEULASTA® (Pegfilgrastim). Like NEULASTA®, NIOPEG® is a long-acting, pegylated 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 chemotherapy. NIOPEG® is available in a prefilled syringe of 6mg/0.6mL.
As of 2024, the global market size for NEULASTA® and its biosimilars was estimated at $4.5 billion, with projections suggesting it could reach $9.2 billion by 2033, growing at a compound annual growth rate (CAGR) of 8.5% (Verified Market Reports). The growth is largely driven by rising global cancer incidence and chemotherapy use.
The Canadian market for NEULASTA® and its Biosimilars is smaller but still significant due to high biologics spending. Biologic drug sales in Canada reached $10 billion in 2020, accounting for about one-third of total pharmaceutical spending (www.canada.ca). NEULASTA® is one of the key biologics used in oncology, and its biosimilars have been gaining traction, especially after provincial switching policies were introduced to encourage cost savings.
Although Canada represents a smaller slice of the global market, its per capita biologics spending ranks among the highest in the OECD (Organisation for Economic Co-operation and Development), making it a valuable market for both branded and biosimilar products.
"The launch of NIOPEG® as a biosimilar to NEULASTA® represents a strategic milestone in our growth trajectory," said Dr. Steve Slilaty, CEO of Sunshine Biopharma. By entering the high value-added biologics market with a cost-effective and clinically equivalent alternative, we are strengthening our portfolio, expanding our addressable market, and creating new revenue streams. This reinforces our commitment to delivering sustainable value to patients, the healthcare system, and our shareholders alike."
About Sunshine Biopharma Inc.
Sunshine Biopharma currently has 72 generic prescription drugs on the market in Canada and more than 12 additional drugs planned to be launched in the remainder of 2025. 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.
All registered trademarks are the property of their respective owners.
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-niopegr-into-10-billion-biologics-market-1044995
