SOHM, Inc. (PINKSHEETS: SHMN), a generic pharmaceutical manufacturer that produces and markets generic drugs covering all major treatment categories, has announced that the Company has received a purchase order for protein-based nutraceutical products in India. The initial order is valued at $350,000 and includes 50,000 bottles of protein powder as well as various other nutraceutical formulations. All of the nutraceutical products will be produced by SOHM's India-Based Manufacturing Facility with shipments expected to begin the third quarter of this year.
The market for nutraceuticals in India is estimated to be $1 billion USD. While the global market is growing at a CAGR of seven percent, the Indian market has been growing much faster at a CAGR of 18 percent for the last three years. The latent market in India is two to four times the current market size and is between $2 billion to $4 billion USD with almost 148 million potential customers, states the Ernst & Young study titled 'Nutraceuticals - Critical supplement for building a healthy India.'
Nutraceuticals and food supplements are in their infancy in India and other emerging markets. Many developed countries have defined this market segment only in the last 15 years. With more than forty percent of deaths in developing countries attributable to risk factors linked to nutrition; nutraceuticals and food supplements are gaining momentum and credibility with vast numbers of new consumers.
"The trend towards preventive healthcare in India made diversifying into the production of nutraceuticals such as food supplements, multi-vitamins and antioxidants a high priority," stated Shailesh Shah, Vice President for Corporate Strategy at SOHM, Inc. "We have already begun the process of expanding our manufacturing facility to handle the additional order flow and will announce the details regarding the new facilities and additional staff shortly."
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
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