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 completed the latest upgrades to its manufacturing capabilities and capacity, and has secured a long-term, five-year contract manufacturing agreement with Pharmex S.A. (“Pharmex”) for the annual production of 300,000 bottles of the antiseptic drug AMBITASOL 1L, totaling 1,500,000 units over the duration of the agreement.
Pharmex, established in 1981, is a privately held specialty pharmaceutical company focused on the commercialization and marketing of medicinal products, antiseptics, dermocosmetics, and medical devices in targeted therapeutic areas such as dermatology, ophthalmology, and pediatrics.
Cosmos Health completed its acquisition of Cana in July 2023 and has since invested in upgrading Cana’s Athens facility, which is licensed under European Good Manufacturing Practices (GMP) and certified by the European Medicines Agency (EMA), laying the foundation for future growth. As a result, Cana is now ramping up revenue generation from manufacturing its own products as well as those of third parties. Cana’s facilities can accommodate a wide range of pharmaceuticals, including tablets, capsules, syrups, nasal sprays, creams, gels, antiseptics, and biocides. In line with this strategy, the Company has entered into the aforementioned contract manufacturing agreement with Pharmex to support its growth aspirations.
Greg Siokas, CEO of Cosmos Health, stated: “We are pleased to continue scaling our high-margin contract manufacturing business at Cana through our collaboration with Pharmex. We look forward to securing additional agreements that will further expand our client base, strengthen cash flows, and drive sustained profitability.”
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