Sunshine Biopharma Inc. (NASDAQ: SBFM) is a pharmaceutical company that sells generic prescription drugs and over-the-counter health products in Canada through its wholly owned subsidiary, Nora Pharma. Revenue comes primarily from the distribution and sale of generic pharmaceuticals, where Nora Pharma holds 200 Drug Identification Numbers (DINs) issued by Health Canada and acts as distributor for international manufacturers, receiving a percentage of sales. The company also manufactures and sells four OTC products under its own Natural Product Numbers (NPNs), including Essential•9, Calcium-Vitamin D, L-Citrulline, and Taurine. Nora Pharma generated $36.3 million in revenue for fiscal year ended December 31, 2025, up from $34.9 million in FY2024, with sales active in Quebec, Ontario, Alberta, and British Columbia. Cost of sales was $24.1 million, or 66.2% of revenue, in FY2025. The company is headquartered in Fort Lauderdale, Florida, with Dr. Steve N. Slilaty serving as a key officer and director as of April 2, 2026.

Revenue model

Nora Pharma earns revenue through two channels: acting as a distributor for international generic drug manufacturers under distribution agreements, receiving a percentage of sales, and selling in-house OTC products under Health Canada NPNs. Total revenue was $36.3 million in FY2025 and $34.9 million in FY2024.

Products and services

Generic prescription drugs sold under 200 Health Canada DINs; OTC products including Essential•9 (NPN 80089663), Calcium-Vitamin D (NPN 80093432), L-Citrulline (NPN 80125047), and Taurine (NPN 80127436).

Customers and end markets

Canadian prescription drug and OTC health product markets. Sales are conducted across Quebec, Ontario, Alberta, and British Columbia. End customers are pharmacy and wholesale channels; specific customer concentration data is not disclosed in the filing.

Value-chain role

Nora Pharma operates as a distributor and licensor of generic pharmaceuticals, sourcing products from international manufacturers via in-licenses, cross-licenses, and distribution agreements. It does not manufacture generic prescription drugs but does manufacture select OTC products.

Geographic exposure

Canada, with commercial operations in Quebec, Ontario, Alberta, and British Columbia as of FY2025. Corporate headquarters in Fort Lauderdale, Florida.

Source: SEC 10-K, filed 2026-04-03

Industry: Pharmaceutical Preparations Peers: Liminal BioSciences Inc. Xenon Pharmaceuticals Inc