Business
Sunshine Biopharma Launches Generic Lurasidone for Schizophrenia in the Canadian Sector of the Global $1.2 Billion Market
FORT LAUDERDALE, F / ACCESS Newswire / May 6, 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 ...
About this update from Sunshine Biopharma Inc.
[{"type":"text","content":"FORT LAUDERDALE, F / ACCESS Newswire / May 6, 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 Lurasidone, a new generic prescription drug in the therapeutic class of antipsychotics.","length":435,"tagName":"p"},{"type":"text","content":"Lurasidone is a generic version of Latuda®. Lurasidone is indicated for the management of schizophrenia and bipolar depression. Nora Pharma's Lurasidone is available in strengths of 20 mg, 40 mg, 60 mg, and 80 mg and comes in bottles of 30 tablets.","length":252,"tagName":"p"},{"type":"text","content":"According to Verified Market Reports, the global market size of Lurasidone was valued at approximately $1.2 billion in 2024 and is projected to grow to $2.5 billion by 2033, with a compound annual growth rate (CAGR) of approximately 8.01%. The growth in market size for Lurasidone is driven by increasing awareness of mental health disorders and the demand for effective treatments.","length":382,"tagName":"p"},{"type":"text","content":"Canada represents approximately 2.2% of the global pharmaceutical market (Made in CA). 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.","length":371,"tagName":"p"},{"type":"text","content":""We are committed to strengthening our position in Canada's $9.4 billion generic drugs market, which is projected to reach $19.2 billion by 2032," said Dr. Steve Slilaty, CEO of Sunshine Biopharma. "As we launch additional, much needed products in 2025, we aim to enhance accessibility to affordable, high-quality medications, improving the lives of patients nationwide."","length":395,"tagName":"p"},{"type":"text","content":"About Sunshine Biopharma Inc.","length":29,"tagName":"p"},{"type":"text","content":"Sunshine Biopharma currently has 70 generic prescription drugs on the market in Canada and more than 15 additional drugs scheduled to be launched in the remainder of 2025....