SBFM | Market Cap: $4.1M (07/13/26)
Industry:
Pharma & Biotech

DESCRIPTION

Sunshine Biopharma is primarily a Canadian generic pharmaceutical company, operating through its subsidiary Nora Pharma. Nora Pharma markets and distributes 71 generic prescription drugs to pharmacies across Canada, primarily in Quebec, with a smaller presence in Ontario, Alberta, and British Columbia. The portfolio spans therapeutic areas including cardiovascular, central nervous system, oncology, diabetes, and urology. Nora Pharma does not manufacture drugs — it acquires rights to sell generics either by licensing from international manufacturers and obtaining Health Canada approval, or by acting as a distributor for already-approved products. Roughly 75% of the portfolio is sourced from three overseas suppliers. Since Canadian generic drug pricing is set by the pan-Canadian Pharmaceutical Alliance and pegged to a percentage of the brand-name reference price, Nora Pharma has limited pricing power and grows revenue primarily by expanding its drug portfolio and increasing pharmacy volume. Nora Pharma has 22 additional generics in the pipeline, with 12 targeted for launch in the remainder of 2026. A secondary business, Sunshine Biopharma Canada, sells OTC nutritional supplements on Amazon.ca, though this is a minor contributor. Beyond the commercial operations, Sunshine Biopharma runs two early-stage proprietary drug development programs — an mRNA-based liver cancer treatment and a small-molecule antiviral targeting SARS coronavirus protease — both in animal testing with no approved products or regulatory filings to date.

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