CHICAGO, IL / ACCESSWIRE / March 18, 2024 / 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 it has received regulatory approval to sell its Sky Premium Life® vitamins and food supplements in the United Arab Emirates (UAE) market, and has obtained its inaugural purchase orders.
Cosmos Health has obtained Consumer Product Registration Certificates ("Registration Certificates") from the Public Health & Safety Department of the Government of Dubai. Registration Certificates of this type are valid for 5 years from the date of issue, are renewable, and allow the free distribution of products in the UAE market.
Additionally, the Company is in advanced discussions with leading local entities and anticipates securing an exclusive distribution agreement based on the most favorable offer.
According to Insights10, by 2030, the nutrition and supplements market in the UAE is projected to reach $3.94 billion, up from $1.91 billion in 2022, growing at a Compound Annual Growth Rate (CAGR) of 9.5% during the period 2022-2030. This growth is driven by factors such as increasing health awareness among individuals and the proliferation of gyms and wellness centers in the region.
Greg Siokas, Chief Executive Officer of Cosmos Health, stated: "I am very pleased with the progress we have made over the past few months in penetrating new markets and increasing brand awareness. Our aspirations for Sky Premium Life, as well as our other proprietary brands, are ambitious. We aim to turn them into leading global brands, and the expansion into the affluent UAE market is another important step in this journey. We have successfully secured the crucial regulatory approval for the entire UAE region, including Dubai and Abu Dhabi, in addition to obtaining our first purchase orders. Additionally, we are in advanced discussions with leading local entities for an exclusivity agreement that is anticipated to significantly increase our revenue."
About Cosmos Health Inc.
Cosmos Health Inc. (Nasdaq:COSM), incorporated in 2009 in Chicago, Illinois, 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® and C-Sept®. Through its subsidiary Cana Laboratories S.A., licensed under European Good Manufacturing Practices (GMP) and certified by the European Medicines Agency, 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, 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, and www.zipdoctor.co, 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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