SOHM (OTC: SHMN), a pharmaceutical, nutraceutical, and cosmeceutical company that manufactures and markets generic drugs covering numerous treatment categories, recently announced the launch of new products to the company’s catalog and expansion into a new CDMO GMP manufacturing facility in Carlsbad, California.
SOHM is set to enter the global vitamin gummies market by launching 13 new SOHM Nutrients Brand Chewables. The global vitamins market, valued at $6.84 billion in 2022, is expected to reach $18.76 billion by 2031, driven by increased consumer spending on healthcare and self-care products, health benefits, appealing flavors, convenience, and easy accessibility (https://ibn.fm/96fvb).
The suite of SOHM Nutrients’ Brand Chewables offers a range of health benefits, individually wrapped single servings for convenience, a chewable format that requires no water, and delicious flavors like mango, strawberry, pineapple, and toffee (https://ibn.fm/58luQ). These products are vegan-friendly and free from nuts, gluten, gelatin, and soy. Dr. David Aguilar, COO of SOHM, emphasized its commitment to expanding its preventive care product portfolio and announced plans for additional product launches in 2024.
The new chewables will be available for retail purchase on Amazon.com and the company’s Direct-to-Consumer website, priced competitively with top-selling gummies. SOHM also plans to showcase these products at industry conferences in 2024, with conference schedules pending finalization.
SOHM has unveiled plans to address increasing product demand by establishing a new facility in Carlsbad, California (https://ibn.fm/1VB5C). This strategic move is driven by the need to meet existing and anticipated orders while the company’s primary facility in downtown San Diego undergoes renovations to optimize operations. SOHM is on track to complete the engineering batches produced at the San Diego facility by Q1 2024, aligning with its mission to enhance production capacity and efficiency.
The new Carlsbad facility provides ample space to accommodate the manufacturing of topical products and SOHM’s overall operations, with an additional 2,500 square feet allocated for storing finished products. Initial operations at the Carlsbad facility will have a daily capacity of 500 gallons (1,892 liters) and focus on topical products. However, plans are in place to expand its capabilities to include soft-gel suppositories by the end of Q1 2024 or the beginning of Q2 2024.
The Carlsbad facility is nearing completion, expecting to achieve full cGMP manufacturing capacity by December 2023. This expansion comes at an opportune time as the bio and pharma Contract Development and Manufacturing Organization (“CDMO”) market has reached a value of $223 billion in 2023 and is projected to grow to $309 billion by 2028, reflecting a 6.74% Compound Annual Growth Rate (“CAGR”) between 2018 and 2028 (https://ibn.fm/352dR).
The company’s management anticipates sharing further updates on the Carlsbad facility in its year-end 2023 report and expresses gratitude for its stakeholders’ continued support and trust. This expansion signifies SOHM’s commitment to meeting market demands and facilitating growth in the pharmaceutical manufacturing sector.
For more information, visit the company’s website at www.SOHM.com.
NOTE TO INVESTORS: The latest news and updates relating to SHMN are available in the company’s newsroom at https://ibn.fm/SHMN
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