| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
|---|
| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
|---|
| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
|---|
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."
Posted In: SBFM
