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CHICAGO - Cosmos Health Inc. (NASDAQ:COSM), a global healthcare group, has announced its entry into the Albanian market with the launch of its Sky Premium Life food supplements brand. The company has partnered with Pharma Cell, a leading distributor in Albania, to facilitate the distribution of its products. Despite challenging market conditions reflected in its 8.1% gross profit margin, Cosmos Health has maintained revenue growth of 13% over the last twelve months, according to InvestingPro data.
Cosmos Health has secured an initial annual order from Pharma Cell valued at $300,000, with expectations to expand this collaboration over time. Pharma Cell, headquartered in Tirana and founded in 2021 by CEO Elvis Punmira, specializes in importing and exporting high-quality food supplements and has quickly grown its operations across Albania.
Greg Siokas, CEO of Cosmos Health, expressed enthusiasm about the partnership, stating that Sky Premium Life is experiencing strong international growth and that the company looks forward to establishing the brand's presence in the Albanian market.
Cosmos Health, incorporated in Nevada in 2009, is known for its vertically integrated structure and ownership of proprietary pharmaceutical and nutraceutical brands. With a current market capitalization of $7.25 million and annual revenue of $56 million, the company manufactures a range of healthcare products through its subsidiary Cana Laboratories S.A., which is licensed under European GMP and certified by the EMA. Its portfolio includes brands such as Mediterranation®, bio-bebe®, C-Sept®, and C-Scrub®.
In addition to manufacturing, Cosmos Health distributes pharmaceuticals and parapharmaceuticals to retail pharmacies and wholesale distributors in Greece and the UK. The company has also ventured into the telehealth space with the acquisition of ZipDoctor, Inc. For detailed financial analysis and growth prospects, investors can access comprehensive metrics and expert insights through InvestingPro.
Cosmos Health's global distribution platform is expanding across Europe, Asia, and North America, with offices and distribution centers located in Greece and the UK. The company's R&D partnerships focus on major health disorders and the development of patented nutraceuticals and innovative over-the-counter products.
This news release is based on a press release statement and contains forward-looking statements regarding Cosmos Health's business plans and the potential impact of its products and partnerships. These statements are not guarantees of future performance and involve risks and uncertainties. Investors are advised to read the risk factors detailed in the company's SEC filings.
In other recent news, Cosmos Health Inc. has announced a delay in its planned securities offering as the company prepares to file its Annual Report for the fiscal year ending December 31, 2024. The decision to postpone the offering aligns with Cosmos Health's strategy to synchronize financial reporting with business objectives. Additionally, Cosmos Health is advancing its weight management product, CCX0722, to clinical trials, with expectations for completion between late 2025 and early 2026, and a market launch in the first half of 2026. The company is actively working with Contract Research Organizations to finalize the technical dossier for regulatory submission.
Furthermore, Cosmos Health has filed new patent applications for treatments targeting glioma and hematologic malignancies, showcasing its collaboration with Cloudpharm and the National Hellenic Research Foundation. The company has also secured a 10-year contract manufacturing agreement with Provident Pharmaceuticals through its subsidiary Cana Laboratories, which includes the production of four pharmaceutical products. In another development, Cosmos Health has filed a patent application for a treatment aimed at allergic inflammation, leveraging its AI-powered drug repurposing platform. These recent developments highlight Cosmos Health's ongoing efforts in expanding its intellectual property and securing long-term revenue streams.
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