CHICAGO, IL / ACCESS Newswire / February 7, 2025 / Cosmos Health Inc. ("Cosmos Health" or the "Company'') (NASDAQ:COSM), a diversified, vertically integrated global healthcare group engaged in innovative R&D, owner of proprietary pharmaceutical and nutraceutical brands, manufacturer and distributor of healthcare products, and operator of a telehealth platform, announced today that its wholly owned subsidiary, Cana Laboratories ("Cana"), has entered into a new long-term ten-year contract manufacturing agreement with Provident Pharmaceuticals ("Provident"), a specialty pharmaceutical company, to produce four pharmaceutical products. These include Miorelique®, BE Union F.C., and two variations of Certorun, with a total production volume of 800,000 packs per year, or 8,000,000 packs over the ten-year period.
Details of the Agreement
The agreement covers the production of Miorelique®, an oral solution containing the active ingredient Baclofen, with an annual production volume of 200,000 packs. This product follows Lioresal as the reference drug, a well-established muscle relaxant used to treat spasticity.
It also includes the production of BE Union F.C. tablets, formulated with Thiamine, Pyridoxine, and Cyanocobalamin, with an annual production volume of 400,000 packs. These tablets are developed with Neurobion as the reference drug, a vitamin B-complex supplement commonly used for neuropathy and nerve health support.
Additionally, the agreement covers the production of Certorun capsules, available in 50 mg and 100 mg formulations, containing the active ingredient Sertraline, with a combined annual production volume of 200,000 packs. This product follows Zoloft as the reference drug, an antidepressant widely prescribed for mood and anxiety disorders.
Greg Siokas, CEO of Cosmos Health, stated: "We are very pleased to expand our already successful collaboration with Provident, further accelerating the growth of our contract manufacturing business at Cana's state-of-the-art facilities. These additional orders from Provident underscore our capabilities, and we remain well-positioned to accommodate further contract manufacturing opportunities that contribute to stable, long-term, high-margin cash flows for Cosmos. Cana is currently operating with two shifts and has the ability to expand to three shifts, enabling the Company to operate around the clock to meet increased demand."
About Provident Pharmaceuticals
Provident, established in 2012, is a privately held specialty pharmaceutical company focused on commercializing and marketing niche and legacy pharmaceutical products and medical devices. Operating in both private and public sectors in Greece, it ensures high-quality, therapeutically valuable products, adhering to European standards. Provident offers comprehensive services, including sales, marketing, regulatory support, market access, and distribution. As market leaders in muscle spasticity and strong performers in HA for joints, oncology, and alimentary tract/metabolism, its mission is to provide innovative, high-quality medicines. The product portfolio spans cardiovascular, central nervous system, oncology, vitamins, medical devices, and veterinary products.
About Cosmos Health Inc.
Cosmos Health Inc. (Nasdaq:COSM), incorporated in 2009 in Nevada, is a diversified, vertically integrated global healthcare group. The Company owns a portfolio of proprietary pharmaceutical and nutraceutical brands, including Sky Premium Life®, Mediterranation®, bio-bebe®, C-Sept® and C-Scrub®. Through its subsidiary Cana Laboratories S.A., licensed under European Good Manufacturing Practices (GMP) and certified by the European Medicines Agency (EMA), it manufactures pharmaceuticals, food supplements, cosmetics, biocides, and medical devices within the European Union. Cosmos Health also distributes a broad line of pharmaceuticals and parapharmaceuticals, including branded generics and OTC medications, to retail pharmacies and wholesale distributors through its subsidiaries in Greece and the UK. Furthermore, the Company has established R&D partnerships targeting major health disorders such as obesity, diabetes, and cancer, enhanced by artificial intelligence drug repurposing technologies, and focuses on the R&D of novel patented nutraceuticals, specialized root extracts, proprietary complex generics, and innovative OTC products. Cosmos Health has also entered the telehealth space through the acquisition of ZipDoctor, Inc., based in Texas, USA. With a global distribution platform, the Company is currently expanding throughout Europe, Asia, and North America, and has offices and distribution centers in Thessaloniki and Athens, Greece, and in Harlow, UK. More information is available at www.cosmoshealthinc.com, www.skypremiumlife.com, www.cana.gr, www.zipdoctor.co, www.cloudscreen.gr, as well as LinkedIn and X.
Forward-Looking Statements
With the exception of the historical information contained in this news release, the matters described herein, may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements preceded by, followed by, or that otherwise, include the words "believes," "expects," "anticipates," "intends," "projects," "estimates," "plans" and similar expressions or future or conditional verbs such as "will," "should," "would," "may" and "could", are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. These statements, involve unknown risks and uncertainties that may individually or materially impact the matters discussed, herein for a variety of reasons that are outside the control of the Company, including, but not limited to, the Company's ability to raise sufficient financing to implement its business plan, the impact of the COVID-19 pandemic and the war in Ukraine, on the Company's business, operations and the economy in general, and the Company's ability to successfully develop and commercialize its proprietary products and technologies. Readers are cautioned not to place undue reliance on these forward-looking statements, as actual results could differ materially from those described in the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the Company's filings with the SEC, which are available at the SEC's website (www.sec.gov). The Company disclaims any intention or obligation to update, or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Relations Contact:
BDG Communications
cosm@bdgcommunications.com
+44 207 0971 653
SOURCE: Cosmos Health Inc.
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