SOHM Launches SohMed(TM) Range of Branded OTC Medicines in U.S. Market SohMed(TM) Line of Branded Generic Products Caters to Growing Population of OTC Medication Users
BUENA PARK, CA -- (Marketwired) -- 11/12/13 --
SOHM, Inc. (PINKSHEETS: SHMN), a manufacturer of generic pharmaceutical, nutraceutical and cosmeceutical drug products, today announces the U.S. launch of its umbrella brand, "SohMed," positioning the company with a firm position in the generic over-the-counter (OTC) medicines segment for indications of pain, fever, cold, antacid and alertness.
Shailesh Shah, president and CEO of SOHM, stated, "SOHM believes in providing low-cost quality medicines to its customers. The SohMed range of generic medicines will be made available in the United States through a nationwide network of distributors, warehouse stores, convenience stores and more. Additionally, we are also in the active process of collaborating with large retail and pharmacy chain stores to further extend our reach in the huge North American market."
It is estimated that 35 percent of American adults use OTC medication. Use of these medications is increasing and is expected to continue to rise as more drugs move from prescription to OTC status. Retail sales of OTC medicines in the U.S. totaled more than $17 billion in 2010, unchanged from the preceding year, but showing a more than $3 billion increase over a 10-year period, according to the American College of Preventative Medicines. The global market for OTC drugs is also on the rise, and is expected to surpass $70 billion by 2015.
SOHM expects the growing market to strengthen demand for the SohMed line of OTC products and create significant revenue growth for the company.
"SOHM team is also working aggressively to supply these products under white label agreement," concluded Shah. "With the launch of SohMed range of products and some of the other products like Salic-2® Gel, I-Prolec and Fohm® by Sohm®, we anticipate a big jump in revenue during 2013 and beyond. During the first six months of 2013, SOHM has already surpassed the revenue achieved in the full 12 months of 2012. Our third-quarter product launches will continue to drive company value and help SOHM achieve 100 percent revenue growth in 2013."
ABOUT SOHM, Inc.
SOHM, Inc. is a generic pharmaceutical manufacturer that produces and markets generic drugs covering all major treatment categories. Besides generic drugs, SOHM also has manufacturing facilities for food supplements and cosmetics. The Company has global headquarters located in California, U.S., with manufacturing facilities in India. SOHM exports generic pharmaceuticals worldwide, placing a heavy focus on distribution in emerging markets in Africa, Latin America, and Southeast Asia. For more information visit the company's website at: www.sohm.com
SAFE HARBOR STATEMENT
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of SOHM, Inc., and members of their management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
Source: SOHM, Inc.