On Thursday, shares of generic Pharmaceutical, Nutraceutical, and Cosmeceutical company that manufactures and markets generic drugs covering numerous treatment categories SOHM Inc (OTCPK: SHMN) closed up 17.86 percent at $0.0066, ranging in price between $0.0085 and $0.0053 during the day. Over the last month, SHMN stock surged over 37.50%, with the average volume for the month exceeding 14.51M shares.
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SHMN stock gained over 65.0% over the past three months, while its average daily volume was 8.17 million. In the past 12 months, SHMN stock has gained over 857.14%, reaching a high of $0.0147 with a $10.39M market capitalization. In the wake of the company entering into a definitive agreement for an acquisition, SHMN stock rocketed.
What has SHMN acquired?
“Globalè Prospero” is the vision of SOHM, the generic pharmaceutical marketing, and manufacturing company that strives to build continuous growth. Manufacturers and marketers of SHMN products target segments such as nutraceuticals and cosmetics as well as other major therapeutic categories. With a North American headquarters and manufacturing alliances in India, SHMN also has strategic alliances with facilities in the United States. SHMN continues to focus on supplying generic pharmaceuticals to emerging markets in Africa, South America, and Southeast Asia, despite having already exported to the USA in early 2013.
SOHM announced yesterday it had signed a definitive agreement pertaining to its long-awaited acquisition of a leading pharmaceutical company based in Southern California.
As a result of the acquisition, SHMN is on track to achieve sustainable stability and growth in the medium and long-term. SHMN will acquire the company on a CASH-BASE basis, and it has established its production hub in the USA as well.
This acquisition will help SHMN realize its global vision of “Globale Prospero”. The companies had already agreed on a road map for the acquisition. SHMN looks forward to more developments in the coming weeks.
Because of business and compliance safeguards, this acquisition would be phased in. As soon as the details are revealed, the company will manufacture prescription, OTC, nutraceuticals, cosmetics, and a variety of other segments through its FDA-licensed facility.
A repeat order also goes to SHMN:
A repeat order for prescription skincare topical products was received by SOHM Inc (SHMN) this week as part of its B2B strategy. These orders appeared to be generated by a private label customer of SHMN and distributed to chain pharmacies throughout the country. The repeat order thus increases SHMN’s revenue in the year 2021, while also strengthening the distribution network and revenues of the company.
