CHINO HILLS, Calif., Nov. 21, 2023 (GLOBE NEWSWIRE) — via IBN — SOHM, Inc. (OTC PINK: SHMN), a pharmaceutical, nutraceutical and cosmeceutical company that manufactures and markets generic drugs covering numerous treatment categories, announced today its new manufacturing facility at Carlsbad.
SOHM Announces New CDMO GMP Manufacturing Facility in Carlsbad, California.
The company is excited to announce the opening of a new facility in Carlsbad to meet the growing demand for its products. This facility will handle the orders that SOHM has received and expects to receive in the near future, while its main facility in downtown San Diego undergoes renovation to become fully operational. SOHM aims to complete the engineering batches produced in the San Diego facility by Q1 2024. This expansion is part of the company’s strategic plan to enhance its production capacity and efficiency.
The new Carlsbad, California, facility will feature adequate space to manufacture topical products and SOHM’s operations, and 2,500 square feet allocated to storage of finished products. (CDMO: Contract Development and Manufacturing Organization.)
This facility will have an initial daily capacity of 500 gallons (1,892 liters) with initial manufactured products of topicals but will be expected to add soft-gel suppositories to its capacity by end of Q1 2024 /beginning of Q2 2024.
As of this press release, the facility is near-final. Full cGMP manufacturing capacity is expected to be completed by December 2023.
The bio and pharma contract development and manufacturing (“CDMO”) market is $223 billion as of 2023 and is expected to grow to $309 billion by 2028, implying a 6.74% CAGR between 2018 – 2028 (compounded annual growth rate). The largest CDMO market is North America with the largest production market being Asia, according to Mordor Intelligence.
Source: Link to Mordor Intelligence.com (industry report 2023).
ABBIE is SOHM’s non-viral gene-editing bio-kits. Large-scale commercial manufacturing of ABBIE gene editing kits will be supported in SOHM’s Southern California manufacturing facilities.
“I am very proud to launch this facility with our SOHM team members. This Carlsbad facility is conveniently located right at the mid-way between two importing commercial hubs: Los Angeles and San Diego. Our location on major land shipping routes will play an important role in maintaining our competitive pricing edge in material sourcing and final products to our clients. Many people do not know this, but Carlsbad is also the home to many biotech and pharma companies who routinely rely on CDMO operators like SOHM for their bio-manufacturing needs,” says Dr. David Aguilar, COO.
Dr. Aguilar continues, “In 12 months, our Carlsbad facility will be expecting to manufacture 70% Rx and 30% OTC (over-the-counter) products. This facility will be able to meet all of our short-term SOHM brand Rx topical and OTC product manufacturing with 100% allocated to manufacture for CDMO clients whose orders are now arriving for year-end-2023.”
Key Milestone:
— Engineering batch of topical branded generic completed within this financial year/2023
— Initial released batch to client by 1Q 2024
SOHM management looks forward to announcing more updates on this facility in the upcoming year-end-2023 report and thanks you for your continued support and trust in the company.
About SOHM, Inc.
SOHM, Inc. is a growing generic pharmaceutical manufacturing and marketing company with a vision of “Globalè Prospèro” that aims to build continuous growth. SOHM manufacturing and marketing targets rapidly growing healthcare segments such as nutraceuticals, cosmeceuticals and other major therapeutic segments. SOHM is headquartered in North America with manufacturing alliances in India and strategic alliances with U.S. manufacturing facilities. Although SOHM’s generic pharmaceuticals are exported globally and were introduced to the USA in early 2013, SOHM continues its focus on distribution to emerging markets in Africa, Latin America and Southeast Asia.
To learn more about SOHM, Inc., visit www.SOHM.com
Safe Harbor Statement:
This news release contains “forward-looking statements,” which are statements that are not purely historical and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development-stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report for the most recent fiscal year and our quarterly reports uploaded from time to time on OTCMarkets.com.
For more information, please contact:
SOHM, Inc.
+1 (714) 522-6700
Corporate Communications:
InvestorBrandNetwork (IBN)
Los Angeles, California
www.InvestorBrandNetwork.com
+1 310.299.1717 Office
Editor@InvestorBrandNetwork.com
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