BUENA PARK, CA--(Marketwire - May 27, 2010) - SOHM, Inc. (PINKSHEETS: SHMN), a generic pharmaceutical manufacturer that produces and markets generic drugs covering all major treatment categories, announced today that the Company has received a $750,000 purchase order for various generic pharmaceuticals for distribution to the Philippines market. The order contains primarily metformin, an oral anti-diabetic drug, and first-line drug of choice for the treatment of type 2 diabetes and sildenafil citrate, used to treat erectile dysfunction and pulmonary arterial hypertension. The generic drugs will be produced and packaged by SOHM’s India-based manufacturing facility and shipped to the Philippines beginning in the third quarter of this year.
Forecasts for the Philippines pharmaceutical market are expected to top $4 billion USD in 2012, up from an estimated $2.6 billion USD in 2007. Double-digit year-on-year growth has occurred due to more and more of the population’s ability to afford medical care. The cost of medicines in the Philippines is the second highest in Asia next to Japan. The World Health Organization has documented that medicines are sold in the Philippines at 4 to 18 times higher than international comparator prices. There is a significant opportunity for SOHM to offer affordable medications and generic lifestyle drugs to the Philippines.
“We envision the Philippines and Southeast Asia to be a very important contributor to our future growth. We will be adding staff to accommodate growth in both of our manufacturing facilities as we process current orders and anticipate new orders,” stated Shailesh Shah, Vice President for Corporate Strategy at SOHM, Inc.
About SOHM, Inc.
SOHM, Inc. is a generic pharmaceutical manufacturer that produces and markets generic drugs covering all major treatment categories. Global headquarters are located in North America with manufacturing sites in India. Generic pharmaceuticals are exported globally with a focus on distribution in emerging markets in Africa, Latin America, and Southeast Asia. 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.
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SOHM, Inc.
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