SOHM, Inc., signs a Mutual Letter of Intent for an Acquisition of Southern California based Pharmaceutical Company
SOHM, Inc. takes a step forward in establishing its manufacturing base and network in the USA
CHINO HILLS, CA / ACCESSWIRE / April 27, 2021 / SOHM Inc. (OTC PINK:SHMN), a generic Pharmaceutical, Nutraceutical, and Cosmeceutical company that manufactures and markets generic drugs covering numerous treatment categories, announced today that the company has signed a Letter of Intent for Acquisition of a leading Southern California based Pharmaceutical company.
Mr. Baron Night, President and CEO of SOHM Inc. said, "We are very pleased to announce that after establishing the strategic manufacturing and marketing of generic Pharmaceutical, Cosmeceuticals, Personal care and Nutraceutical products range within USA, for SOHM it is a logical expansion to establish its brand name in the ever-growing generic prescription pharmaceutical and OTC market in USA. With this possible acquisition, after due diligence, SOHM would have an established distribution network in the various states"
Mr. Night added that the proposed target of pharmaceutical manufacturing company is in manufacturing and supply to third party and private label manufacturing for last 20 years. The company has more than 300+ formulation ranging from OTC to prescription to skincare to cosmeceuticals as well as veterinary segments. The company has license to manufacture, prescription, OTC and cosmeceutical products.
Besides this SOHM would also have the opportunity to manufacture in house its products in the US brands in its manufacturing facility at Southern California thus increasing the profitability. If this proposed acquisition goes through, it is in line with the Company's strategy for its growth and stability and bring synergies between the two companies.
Mr. Night went on to say that this will be one of the organic takeovers and is subject to appropriate Due diligence and it is going to be on cash basis, subject to procuring the financing needs by institutional loan or capital raise. Together with SOHM management bandwidth the all its segments will witness more applied innovation in time to come.
The company anticipates announcing its definitive agreement after proper due diligence and procuring confirmed financing methods within 2nd qtr. 2021 or early 3rd qtr.
About SOHM, Inc.
SOHM, Inc., is a growing generic pharmaceutical manufacturing and marketing company with a vision "Globalè Prospèro" that tries to build continuous growth. SOHM manufacturing and marketing targets the rapidly growing healthcare segments such as Nutraceuticals, Cosmeceuticals, and other major therapeutic segments. SOHM is headquartered in North America with manufacturing alliances in India as well as has strategic alliances with US 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 know 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, our quarterly reports uploaded from time-to-time on OTCMarkets.com.
For more information, please contact:
SOURCE: Sohm, Inc.
View source version on accesswire.com: