SOHM, Inc. (SHMN) forecasts strong growth in Asian markets

Posted on: February 17th, 2011
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Shares of generic drug maker, SOHM, Inc. (Pink Sheets: SHMN) have been up as much as 45 percent this week, from Friday’s close, touching on a high of 5.3 cents, after the Company announced it expected strong revenue growth in eastern markets. Average share volume has quadrupled in the past ten days, reaching nearly 900,000, compared to a three-month daily average of 205,656.

The Buena Park-based company produces and markets generic drugs covering all major treatment categories, and has begun large scale distribution of its pharmaceutical product line in Southeast Asia.

Furthermore, through the Company’s manufacturing site in India, SHMN has broadened its international sales channels in the third quarter of fiscal 2010 by signing an exclusive distribution agreement for the marketing and distribution of its private label generic pharmaceutical products in Sri Lanka.

In a recent news release, Shailesh Shah, President and CEO of SOHM, Inc. stated: “The Sri Lankan market is very accessible for our India based manufacturing operations. This close proximity allows us to supply our pharmaceutical products at very affordable and competitive price points in the region. Sri Lanka is considered a gateway to Southeast Asia and one of the fastest growing pharmaceutical markets in the world. We are positioning SOHM to be a major distributor of generic pharmaceuticals in this region.”

SOHM’s direct manufacturing of generic pharmaceuticals allows pricing advantages and distribution of quality drugs to consumers who are underserved or have limited access to medicine in this region.

Southeast Asia is the fourth-largest, and fastest-growing pharmaceutical market, with market expansion being driven by economic growth, a broadening middle class, growing and aging population, increasing economic liberalization, and an expanded government and private-sector role in improving healthcare.

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