SOHM Announces That It Has Entered Into Definitive Agreement With Dermatology Products Company Acquisition
02 August 2011 - 10:30PM
Marketwired
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
entered into a definitive agreement with Novatrend Medicament Pvt.
Ltd. to acquire all its products on a cash basis per the previously
signed letter of intent with the company.
Mr. Shailesh Shah, President and CEO, is pleased to announce
that forwarding its agenda of organic growth, SOHM goes beyond
generics to applied innovations in dermatology by taking over
Novatrend products. SOHM acquires unique cutting edge in
dermatology as it also acquires unique and innovative pipe line
derma products. These products are not only premium priced and
innovative; but they are conceptualized with the unique motto of
developing alternatives for unmet needs.
Further, Mr. Shailesh Shah is delighted to state that this
strategic acquisition is the first step towards the long-term goal
of backward integration and conceptualizing unique innovation in
the applied formulation range. SOHM will also leverage Novatrend's
in-depth knowledge of new drug delivery systems, be it transdermal
innovation or transmucosal route therapies.
Mr. Shailesh Shah reiterates that the Company projects these 17
new product offerings will contribute in excess of USD $1,000,000
in yearly revenue, with significant profit margins. The Company
expects this acquisition to be accretive to earnings and cash flow
within the first year, allowing the Company to report its first
profitable year of operations since inception.
Mr. Shailesh Shah concluded that of the 17 products acquired,
more than five are first-time in India and some of them first-time
in the world. These milestones also create an imperative need for
more protective regime in IPR and trademark protection for SOHM
group.
About SOHM, Inc. SOHM, Inc. is a generic
pharmaceutical manufacturer that produces and markets generic drugs
covering all major treatment categories. Global headquarters is
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.
For more information, please contact: SOHM, Inc. Investor
Relations (714) 522-6700
SOHM (PK) (USOTC:SHMN)
Historical Stock Chart
From Apr 2024 to May 2024
SOHM (PK) (USOTC:SHMN)
Historical Stock Chart
From May 2023 to May 2024