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Sunshine Biopharma Expands Its Product Line to 69 Generic Prescription Drugs by Launching Olanzapine and Olanzapine ODT
FORT LAUDERDALE, FL / ACCESS Newswire / January 21, 2025 / Sunshine Biopharma Inc. (NASDAQ:SBFM) (the "Company"), a pharmaceutical company offering and
About this update from Sunshine Biopharma Inc.
[{"type":"text","content":"FORT LAUDERDALE, FL / ACCESS Newswire / January 21, 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 two new generic prescription drugs.The newly launched drugs are Olanzapine and Olanzapine ODT. Olanzapine is a generic version of Zyprexa®. Olanzapine is indicated for the acute and maintenance treatment of schizophrenia and related psychotic disorders. Olanzapine is also indicated for the acute treatment of manic or mixed episodes of bipolar I disorder. Nora Pharma's Olanzapine is available in bottles of 100 tablets for the Canadian market in strengths of 2.5mg, 5mg, 7.5mg, 10mg, 15mg and 20mg. Nora Pharma's Olanzapine ODT (Orally Disintegrating Tablets) is available for the Canadian market in strengths of 5mg, 10mg, 15mg and 20mg in blisters of 30 tablets.In addition to its use as a monotherapy, Olanzapine is used in combination with Lithium or Valproate for treatment of depressive episodes of bipolar I disorder and in combination with Fluoxetine for treatment-resistant depression.The olanzapine market is expected to see steady growth in the coming years. The projected increase in emotional illness and mental health issues is set to drive the expansion. In 2023, a report from the Substance Abuse and Mental Health Services Administration (an agency within the U.S. Department of Health and Human Services) revealed a staggering statistic of 5.5% or approximately 14 million adult individuals reporting serious mental illness in 2021. The escalating prevalence of emotional illness, increased awareness of mental health issues, advancements in psychiatric treatments, and a growing aging population are factors that underscore the growth trajectory of the olanzapine market.\"We continue to strengthen our presence in the Canadian generic drugs market, currently estimated to be at $9.4 billion and projected to grow to $19.2 billion by 2032,\" said Dr. Steve Slilaty, CEO of Sunshine Biopharma. \"We eagerly anticipate launching more products in 2025,\" he added.About Sunshine Biopharma Inc.Sunshine Biopharma currently has 69 generic prescription drugs on the market in Canada and 20 additional drugs sc...