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CHICAGO - Cosmos Health Inc. (NASDAQ:COSM), a global healthcare group with a current market capitalization of $6.98 million, has announced a significant contract manufacturing agreement through its subsidiary Cana Laboratories. The deal, struck with specialty pharmaceutical company Pharmex S.A., involves the production of 300,000 bottles per year of the antiseptic drug AMBITASOL 1L over a five-year period, totaling 1.5 million units. According to InvestingPro data, the company has maintained revenue growth of 13.01% over the last twelve months, despite operating with tight gross margins of 8.1%.
Cana Laboratories, acquired by Cosmos Health in July 2023, has recently upgraded its Athens facility, which adheres to European Good Manufacturing Practices (GMP) and is certified by the European Medicines Agency (EMA). These improvements have laid the groundwork for increased manufacturing of both proprietary and third-party products, signaling a strategic move to boost revenue generation.
The CEO of Cosmos Health, Greg Siokas, expressed optimism about the new partnership with Pharmex, stating, "We are pleased to continue scaling our high-margin contract manufacturing business at Cana through our collaboration with Pharmex."
Cosmos Health, which operates a vertically integrated model, owns a range of pharmaceutical and nutraceutical brands and distributes various healthcare products. It also has a presence in the telehealth sector through the acquisition of ZipDoctor, Inc. The corporation has been expanding its global footprint, with offices and distribution centers in Greece, the UK, and plans to grow further in Europe, Asia, and North America.
The contract with Pharmex is part of Cosmos Health's broader growth strategy, which includes expanding its client base, strengthening cash flows, and enhancing sustained profitability. Trading at $0.36 per share, near its 52-week low, InvestingPro analysis suggests the stock is currently undervalued. This agreement is expected to contribute to the company's growth aspirations by leveraging the upgraded capabilities of Cana's manufacturing facilities. For deeper insights into Cosmos Health's financial health and growth potential, including 15 additional ProTips and comprehensive valuation metrics, investors can explore InvestingPro's detailed analysis tools.
The information for this article is based on a press release statement from Cosmos Health Inc.
In other recent news, Cosmos Health Inc. has announced its entry into the Albanian market with the launch of its Sky Premium Life food supplements brand, partnering with Pharma Cell for distribution. The initial annual order from Pharma Cell is valued at $300,000. Additionally, Cosmos Health has postponed its planned securities offering, initially intended under its Registration Statement on Form S-1, as the company aligns its financial reporting with its business objectives. The company is also advancing its weight management product, CCX0722, to clinical trials, with a market launch expected in the first half of 2026. In a strategic move, Cosmos Health has filed two new patent applications for cancer treatments, focusing on glioma and hematologic malignancies, showcasing its collaboration with Cloudpharm and the National Hellenic Research Foundation. Furthermore, Cosmos Health has secured a 10-year contract with Provident Pharmaceuticals through its subsidiary Cana Laboratories, involving the production of 800,000 packs annually of various pharmaceutical products. These recent developments highlight Cosmos Health's strategic initiatives and ongoing expansion in the global healthcare market.
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