SOHM, Inc., signs a Mutual Letter of Intent for an Acquisition of Southern California based Pharmaceutical Company
SOHM, Inc. takes a step forward in establishing its manufacturing base and network in the USA
CHINO HILLS, CA / ACCESSWIRE / April 27, 2021 / SOHM, Inc. (OTC PINK:SHMN), a generic Pharmaceutical, Nutraceutical, and Cosmeceutical company that manufactures and markets generic drugs covering numerous treatment categories, announced today that the company has signed a Letter of Intent for Acquisition of a leading Southern California based Pharmaceutical company.
Mr. Baron Night, President and CEO of SOHM Inc. said, "We are very pleased to announce that after establishing the strategic manufacturing and marketing of generic Pharmaceutical, Cosmeceuticals, Personal care and Nutraceutical products range within USA, for SOHM it is a logical expansion to establish its brand name in the ever-growing generic prescription pharmaceutical and OTC market in USA. With this possible acquisition, after due diligence, SOHM would have an established distribution network in the various states"
Mr. Night added that the proposed target of pharmaceutical manufacturing company is in manufacturing and supply to third party and private label manufacturing for last 20 years. The company has more than 300+ formulation ranging from OTC to prescription to skincare to cosmeceuticals as well as veterinary segments. The company has license to manufacture, prescription, OTC and cosmeceutical products.
Besides this SOHM would also have the opportunity to manufacture in house its products in the US brands in its manufacturing facility at Southern California thus increasing the profitability. If this proposed acquisition goes through, it is in line with the Company's strategy for its growth and stability and bring synergies between the two companies.
Mr. Night went on to say that this will be one of the organic takeovers and is subject to appropriate Due diligence and it is going to be on cash basis, subject to procuring the financing needs by institutional loan or capital raise. Together with SOHM management bandwidth the all its segments will witness more applied innovation in time to come.
The company anticipates announcing its definitive agreement after proper due diligence and procuring confirmed financing methods within 2nd qtr. 2021 or early 3rd qtr.
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SOURCE: Sohm, Inc.
04/27/2021 EQS Newswire / EQS Group AG