Cosmos Health Holds EU Distribution Rights for Virax Biolabs’ Mpox (formerly Monkeypox) Virus Real-Time PCR Detection Kits
Cosmos Health (NASDAQ:COSM) has announced its continued distribution rights for mpox virus real-time PCR detection kits from Virax Biolabs. The company holds exclusive distribution rights in Greece and Cyprus, and non-exclusive rights across Europe. This announcement comes in light of recent developments, including the WHO's declaration of mpox as a public health emergency in the Democratic Republic of the Congo and other African countries, as well as Sweden confirming the first case of a new mpox strain outside Africa. Cosmos Health's CEO, Greg Siokas, emphasized the company's readiness to support EU/EEA governments and public health authorities in enhancing preparedness and response to the mpox threat.
Cosmos Health (NASDAQ:COSM) ha annunciato il proseguimento dei diritti di distribuzione per i kit di rilevazione PCR in tempo reale del virus mpox da Virax Biolabs. L'azienda detiene diritti di distribuzione esclusivi in Grecia e Cipro, e diritti non esclusivi in tutta Europa. Questa notizia arriva alla luce degli sviluppi recenti, tra cui la dichiarazione dell'OMS sul mpox come emergenza sanitaria pubblica nella Repubblica Democratica del Congo e in altri paesi africani, oltre alla conferma da parte della Svezia del primo caso di un nuovo ceppo di mpox al di fuori dell'Africa. Il CEO di Cosmos Health, Greg Siokas, ha sottolineato la prontezza dell'azienda nel supportare i governi e le autorità sanitarie pubbliche dell'UE/EEA nel migliorare la preparazione e la risposta alla minaccia del mpox.
Cosmos Health (NASDAQ:COSM) ha anunciado la continuación de sus derechos de distribución para los kits de detección de PCR en tiempo real del virus mpox de Virax Biolabs. La empresa posee derechos de distribución exclusivos en Grecia y Chipre, y derechos no exclusivos en toda Europa. Este anuncio se produce a raíz de los desarrollos recientes, incluida la declaración de la OMS del mpox como emergencia de salud pública en la República Democrática del Congo y otros países africanos, así como la confirmación de Suecia del primer caso de una nueva cepa de mpox fuera de África. El CEO de Cosmos Health, Greg Siokas, enfatizó la disposición de la empresa para apoyar a los gobiernos de la UE/EEE y a las autoridades de salud pública en la mejora de la preparación y respuesta ante la amenaza del mpox.
코스모스 헬스(NASDAQ:COSM)는 Virax Biolabs로부터 mpox 바이러스 실시간 PCR 검출 키트에 대한 지속적인 배급 권한을 발표했습니다. 이 회사는 그리스와 키프로스에서 독점 배급 권한을 보유하고 있으며, 유럽 전역에서 비독점 권한을 가지고 있습니다. 이 발표는 콩고 민주 공화국 및 기타 아프리카 국가에서 mpox를 공공 보건 비상 사태로 선언한 WHO의 발표 및 스웨덴이 아프리카 외부에서 새로운 mpox 변종의 첫 사례를 확인한 것과 같은 최근의 발전을 염두에 두고 이루어졌습니다. 코스모스 헬스의 CEO인 그렉 시오카스는 mpox 위협에 대한 준비 및 대응 강화를 위해 EU/EEA 정부와 공공 보건 당국을 지원할 준비가 되어 있음을 강조했습니다.
Cosmos Health (NASDAQ:COSM) a annoncé la poursuite de ses droits de distribution pour les kits de détection PCR en temps réel du virus mpox de Virax Biolabs. L'entreprise détient des droits de distribution exclusifs en Grèce et à Chypre, et des droits non exclusifs dans toute l'Europe. Cet annonce intervient à la lumière des récents développements, y compris la déclaration de l'OMS concernant le mpox comme urgence de santé publique en République Démocratique du Congo et dans d'autres pays africains, ainsi que la confirmation par la Suède du premier cas d'un nouveau variant de mpox en dehors de l'Afrique. Le PDG de Cosmos Health, Greg Siokas, a souligné la volonté de l'entreprise d'aider les gouvernements et les autorités de santé publique de l'UE/EEE à améliorer leur préparation et leur réponse face à la menace mpox.
Cosmos Health (NASDAQ:COSM) hat die Fortsetzung seiner Vertriebsrechte für mpox-Virus-Real-Time-PCR-Nachweiskits von Virax Biolabs angekündigt. Das Unternehmen hält exklusive Vertriebsrechte in Griechenland und Zypern sowie nicht-exklusive Rechte in ganz Europa. Diese Ankündigung erfolgt im Hinblick auf aktuelle Entwicklungen, darunter die Erklärung der WHO, mpox als öffentliche Gesundheitsnotlage in der Demokratischen Republik Kongo und anderen afrikanischen Ländern einzustufen, sowie die Bestätigung Schwedens für den ersten Fall eines neuen mpox-Stammes außerhalb Afrikas. Der CEO von Cosmos Health, Greg Siokas, betonte die Bereitschaft des Unternehmens, die Regierungen der EU/EEA und die Gesundheitsbehörden bei der Verbesserung der Vorbereitung und Reaktion auf die mpox-Bedrohung zu unterstützen.
- Exclusive distribution rights for mpox detection kits in Greece and Cyprus
- Non-exclusive distribution rights across Europe
- Strategic positioning to support EU/EEA governments in mpox detection and response
- None.
Insights
The resurgence of mpox, particularly with a new strain identified in Sweden, underscores the critical importance of reliable diagnostic tools. Cosmos Health's distribution rights for Virax Biolabs' PCR detection kits position the company strategically in the European healthcare market. These kits are essential for early detection and containment efforts, which are important in managing potential outbreaks.
The WHO's declaration of a public health emergency amplifies the urgency and demand for such diagnostic tools. This could lead to
Cosmos Health's strategic positioning with distribution rights for mpox detection kits presents a significant market opportunity. The company's exclusive rights in Greece and Cyprus, coupled with non-exclusive rights across Europe, provide a competitive advantage in a potentially expanding market. The recent WHO declaration and the identification of a new strain in Sweden could catalyze demand for these kits.
However, investors should consider that the market dynamics for diagnostic tests can be volatile and dependent on public health policies. The revenue potential may fluctuate based on the severity and duration of the outbreak. Additionally, competition in non-exclusive territories could impact profit margins. Cosmos Health's success will largely depend on its distribution efficiency and ability to secure contracts with healthcare providers and government agencies across Europe.
CHICAGO, IL / ACCESSWIRE / August 21, 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, pursuant to its agreement with Virax Biolabs (NASDAQ: VRAX), that it continues to hold the rights to distribute mpox virus real-time PCR detection kits, with exclusive distribution rights in Greece and Cyprus, and non-exclusive distribution rights across Europe.
On August 14, 2024, World Health Organization (WHO) Director-General Dr. Tedros Adhanom Ghebreyesus determined that the upsurge of mpox in the Democratic Republic of the Congo and a growing number of countries in Africa constitutes a public health emergency of international concern under the International Health Regulations. On August 15, 2024, the WHO confirmed that Sweden became the first country outside the African continent to confirm the new mpox strain.
Greg Siokas, CEO of Cosmos Health, stated: "In these challenging times, as mpox emerges in Europe, Cosmos is well-positioned to support governments and public health authorities in the EU/EEA by enhancing preparedness, planning, and awareness efforts to ensure rapid detection and effective response."
About Virax Biolabs
Virax Biolabs, founded in 2013, is a UK based diagnostics company focused on the prevention, detection and diagnosis of viral diseases, with a particular interest in the field of immunology. The test is intended to aid in the rapid diagnosis of mpox virus in human serum and lesion exudate specimens, providing a preliminary test result. Clinical correlation with patient history and other diagnostic information is necessary to determine patient infection status.
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® and C-Sept®. 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, 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 Company's ability to regain compliance with Nasdaq listing requirements, 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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FAQ
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