Core Insights - Cosmos Health Inc. has announced the completion of upgrades to its subsidiary Cana Laboratories' manufacturing capabilities and secured a five-year contract with Pharmex S.A. for the production of 300,000 bottles of the antiseptic drug AMBITASOL annually, totaling 1,500,000 units over the contract duration [1][3]. Company Overview - Cosmos Health Inc. is a diversified, vertically integrated global healthcare group that owns proprietary pharmaceutical and nutraceutical brands and operates a telehealth platform [4]. - The company completed the acquisition of Cana Laboratories in July 2023 and has since invested in upgrading its Athens facility, which is licensed under European Good Manufacturing Practices (GMP) and certified by the European Medicines Agency (EMA) [3]. Manufacturing and Growth Strategy - Cana Laboratories is ramping up revenue generation from manufacturing its own products and those of third parties, with capabilities to produce a wide range of pharmaceuticals including tablets, capsules, syrups, and antiseptics [3]. - The contract with Pharmex is part of Cosmos Health's strategy to scale its high-margin contract manufacturing business and aims to secure additional agreements to expand its client base and strengthen cash flows [4]. Market Position and Distribution - Cosmos Health distributes a broad line of pharmaceuticals and parapharmaceuticals, including branded generics and OTC medications, through subsidiaries in Greece and the UK [4]. - The company is expanding its global distribution platform throughout Europe, Asia, and North America, with offices and distribution centers in Greece and the UK [4].
Cosmos Health Further Expands Facility Upgrades Program at Cana Laboratories and Signs 5-Year Contract Manufacturing Agreement with Pharmex for 1.5 Million Bottles of the Antiseptic Drug AMBITASOL 1L