Sunshine Biopharma Inc., through its Canadian subsidiary Nora Pharma Inc., has announced the launch of Niopeg, its first biosimilar drug to hit the market. Niopeg is a biosimilar to Neulasta (Pegfilgrastim), a long-acting, pegylated form of recombinant human granulocyte colony-stimulating factor (filgrastim), used to reduce infection risk in cancer patients undergoing chemotherapy.

Available in a 6mg/0.6mL prefilled syringe, Niopeg enters a growing global biosimilar market. As of 2024, the market for Neulasta and its biosimilars is valued at $4.5 billion and is projected to reach $9.2 billion by 2033, growing at a CAGR of 8.5%, according to Verified Market Reports. This growth is fueled by rising cancer prevalence and chemotherapy usage worldwide.

Canada, while representing a smaller share of the global market, remains a high-value target due to significant biologics spending. Biologic drug sales in Canada totaled $10 billion in 2020, accounting for nearly one-third of all pharmaceutical expenditures. Canadian provincial policies that encourage switching to biosimilars for cost-efficiency are further boosting biosimilar adoption.

“The launch of Niopeg as a biosimilar to Neulasta represents a strategic milestone in our growth trajectory,” said Dr. Steve Slilaty, CEO of Sunshine Biopharma. “It strengthens our portfolio, expands our market reach, and provides cost-effective, clinically equivalent options for patients.”

Sunshine Biopharma currently markets 72 generic prescription drugs in Canada, with plans to introduce more than 12 additional products by the end of 2025. The company is also advancing proprietary R&D, including K1.1 mRNA (targeted for liver cancer) and PLpro, a small molecule aimed at treating SARS Coronavirus infections.

The Niopeg launch marks Sunshine Biopharma’s formal entry into the high-value biosimilars market, reinforcing its commitment to affordable, innovative healthcare solutions.