Sunshine Biopharma in strategic deal for new generic antibiotics in Canada

Sunshine Biopharma (SBFM) announces that it has entered a strategic agreement to market two new generic antibiotics in Canada. The company plans to launch these products through its subsidiary, Nora Pharma, subject to regulatory approval, within the next six to nine months. According to InvestingPro data, SBFM has demonstrated strong revenue growth of 62% in the last twelve months, though analysts note the company is currently burning through cash reserves. The agreement could strengthen Sunshine Biopharma’s position in the Canadian market, where it already has a portfolio of 70 generic prescription drugs. The global antibiotics market, which was valued at $53.9 billion in 2024, is projected to grow to $85.8 billion by 2033, with North America and Europe currently holding about 45% of the market share. The Canadian segment represents approximately $1.2 billion, or 2.2%, of this global market. InvestingPro analysis suggests the stock is currently undervalued, with a healthy current ratio of 5.74 indicating strong short-term financial stability.