Cosmos Health Signs Distribution Agreement with ProMed Trading for Its Sky Premium Life Food Supplements in Qatar
Cosmos Health (NASDAQ:COSM) has signed a distribution agreement with ProMed Trading Company for its Sky Premium Life food supplement products in Qatar. ProMed, a leading healthcare company in Doha, will handle key functions including regulatory compliance, product registration, distribution, promotion, marketing, logistics, and sales in pharmacies and shops across Qatar.
The Middle East and Southeast Asia dietary supplements market is projected to grow from $17.04 billion in 2023 to $30.72 billion by 2031, with a CAGR of 7.6%. This growth is driven by rising health awareness, availability of various supplement formats, and increasing disposable income.
CEO Greg Siokas expressed enthusiasm about the partnership, highlighting it as a testament to the high quality of their products and the strong global demand for the Sky Premium Life brand.
Cosmos Health (NASDAQ:COSM) ha firmato un accordo di distribuzione con ProMed Trading Company per i suoi prodotti di integratori alimentari Sky Premium Life in Qatar. ProMed, una delle principali aziende sanitarie a Doha, si occuperà di funzioni chiave tra cui conformità normativa, registrazione dei prodotti, distribuzione, promozione, marketing, logistica e vendite in farmacie e negozi in tutto il Qatar.
Il mercato degli integratori alimentari del Medio Oriente e del Sud-est asiatico è previsto crescere da 17,04 miliardi di dollari nel 2023 a 30,72 miliardi di dollari entro il 2031, con un CAGR del 7,6%. Questa crescita è guidata da una crescente consapevolezza della salute, disponibilità di vari formati di integratori e un aumento del reddito disponibile.
Il CEO Greg Siokas ha espresso entusiasmo per la partnership, sottolineando che rappresenta una testimonianza dell'alta qualità dei loro prodotti e della forte domanda globale per il marchio Sky Premium Life.
Cosmos Health (NASDAQ:COSM) ha firmado un acuerdo de distribución con ProMed Trading Company para sus productos de suplementos alimenticios Sky Premium Life en Qatar. ProMed, una de las principales empresas de salud en Doha, se encargará de funciones clave que incluyen cumplimiento normativo, registro de productos, distribución, promoción, marketing, logística y ventas en farmacias y tiendas en todo Qatar.
Se proyecta que el mercado de suplementos dietéticos en el Medio Oriente y el Sudeste Asiático crezca de 17.04 mil millones de dólares en 2023 a 30.72 mil millones de dólares para 2031, con un CAGR del 7.6%. Este crecimiento está impulsado por una mayor conciencia sobre la salud, la disponibilidad de diversos formatos de suplementos y un aumento en los ingresos disponibles.
El CEO Greg Siokas expresó su entusiasmo por la asociación, destacando que es un testimonio de la alta calidad de sus productos y de la fuerte demanda global de la marca Sky Premium Life.
코스모스 헬스(COSMOS Health, NASDAQ:COSM)는 카타르의 Sky Premium Life 건강 보조 식품에 대해 ProMed Trading Company와 유통 계약을 체결했습니다. 도하에 위치한 주요 헬스케어 회사인 ProMed는 규제 준수, 제품 등록, 유통, 홍보, 마케팅, 물류 및 카타르 전역의 약국 및 상점에서의 판매 등 주요 기능을 담당할 것입니다.
중동과 동남아시아의 건강 보조 식품 시장은 2023년 170억 4천만 달러에서 2031년에는 307억 2천만 달러로 성장할 것으로 예상되며, 연평균 성장률(CAGR) 7.6%를 기록할 것으로 보입니다. 이 성장은 건강에 대한 인식 증가, 다양한 보조 식품 형식의 가용성 및 가처분 소득 증가에 의해 촉진되고 있습니다.
CEO Greg Siokas는 이 파트너십에 대한 열정을 표명하며, 이 것이 그들의 제품의 높은 품질과 Sky Premium Life 브랜드에 대한 강력한 글로벌 수요를 입증하는 것이라고 강조했습니다.
Cosmos Health (NASDAQ:COSM) a signé un accord de distribution avec ProMed Trading Company pour ses produits de compléments alimentaires Sky Premium Life au Qatar. ProMed, une entreprise de santé de premier plan à Doha, sera responsable de fonctions clés telles que la conformité réglementaire, l'enregistrement des produits, la distribution, la promotion, le marketing, la logistique et les ventes dans les pharmacies et les magasins à travers le Qatar.
Le marché des compléments alimentaires au Moyen-Orient et en Asie du Sud-Est devrait passer de 17,04 milliards de dollars en 2023 à 30,72 milliards de dollars d'ici 2031, avec un CAGR de 7,6%. Cette croissance est tirée par une prise de conscience accrue de la santé, la disponibilité de divers formats de compléments et l'augmentation des revenus disponibles.
Le PDG Greg Siokas a exprimé son enthousiasme pour ce partenariat, soulignant qu'il témoigne de la haute qualité de leurs produits et de la forte demande mondiale pour la marque Sky Premium Life.
Cosmos Health (NASDAQ:COSM) hat einen Vertriebsvertrag mit der ProMed Trading Company für seine Sky Premium Life Nahrungsergänzungsmittel in Katar unterzeichnet. ProMed, ein führendes Unternehmen im Gesundheitswesen in Doha, wird wichtige Funktionen wie die Einhaltung von Vorschriften, die Produktregistrierung, den Vertrieb, die Promotion, das Marketing, die Logistik und den Verkauf in Apotheken und Geschäften in ganz Katar übernehmen.
Der Markt für Nahrungsergänzungsmittel im Nahen Osten und im südostasiatischen Raum wird voraussichtlich von 17,04 Milliarden Dollar im Jahr 2023 auf 30,72 Milliarden Dollar im Jahr 2031 wachsen, mit einer CAGR von 7,6%. Dieses Wachstum wird durch ein steigendes Gesundheitsbewusstsein, die Verfügbarkeit verschiedener Ergänzungsformate und steigende verfügbare Einkommen vorangetrieben.
CEO Greg Siokas zeigte sich begeistert von der Partnerschaft und betonte, dass sie ein Beweis für die hohe Qualität ihrer Produkte und die starke globale Nachfrage nach der Marke Sky Premium Life sei.
- Expansion into the growing Qatar market through a distribution agreement with ProMed Trading
- Entry into the Middle East and Southeast Asia dietary supplements market, projected to reach $30.72 billion by 2031 with a 7.6% CAGR
- Increased global reach for Sky Premium Life brand, following recent distribution agreements in UAE and Eastern Europe
- None.
Insights
The distribution agreement between Cosmos Health and ProMed Trading for Sky Premium Life food supplements in Qatar represents a strategic move into a promising market. The Middle East and Southeast Asia dietary supplements market is projected to grow from
Key factors driving this market growth include:
- Rising health awareness in the region
- Increased availability of supplement formats in retail stores
- Growing disposable income among consumers
ProMed's established presence in Qatar and its comprehensive service offering - including regulatory compliance, product registration, distribution and marketing - could potentially accelerate Cosmos Health's market penetration. However, it's important to note that success will depend on how well Sky Premium Life products resonate with local consumers and compete against existing brands.
While this agreement signifies positive momentum for Cosmos Health, following recent expansions in the UAE and Eastern Europe, investors should be cautious. The impact on the company's financials remains to be seen and success in Qatar doesn't guarantee similar outcomes in other markets. It's advisable to monitor future financial reports for tangible evidence of revenue growth from this expansion.
This distribution agreement marks Cosmos Health's entry into Qatar's dietary supplement market, but its financial impact remains uncertain. Several factors warrant consideration:
Potential upsides:
- Market size: Qatar, while small, is part of a rapidly growing regional market
- Full-service partnership: ProMed's comprehensive role could reduce Cosmos Health's direct costs and risks
- Brand expansion: Successful entry could pave the way for further Middle Eastern market penetration
Potential challenges:
- Market saturation: The agreement doesn't specify exclusivity, suggesting potential competition
- Revenue impact: The deal's financial terms and projected sales volumes are not disclosed
- Regulatory hurdles: Success depends on smooth product registration and compliance processes
Investors should view this as a long-term strategic move rather than an immediate revenue driver. The agreement's true value lies in its potential to establish Sky Premium Life as a recognized brand in a new, growing market. However, without specific financial projections or terms, it's premature to quantify the impact on Cosmos Health's bottom line. Future quarterly reports should be closely monitored for signs of revenue growth attributable to this expansion.
CHICAGO, IL / ACCESSWIRE / July 25, 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 signed a distribution agreement (the "Agreement") with ProMed Trading Company ("ProMed") for its Sky Premium Life food supplement products in Qatar.
ProMed, based in Doha, is a leading healthcare company in Qatar offering a diverse range of medical supplies and equipment, including medical and analytical devices, research and scientific instruments, beauty and health products, disposable and hospital consumables, general medical equipment, infection control products, and dental items.
As part of the Agreement, ProMed will handle all key functions, including regulatory compliance, product registration, distribution, promotion, marketing, logistics, and the sale of Sky Premium Life products in pharmacies and shops across Qatar.
According to Business Market Insights, the Middle East and Southeast Asia dietary supplements market, valued at
Greg Siokas, CEO of Cosmos Health, stated: "We are delighted to announce our distribution agreement with ProMed, enabling us to dynamically launch Sky Premium Life in the growing market of Qatar. This important partnership is another testament to the high-quality nature of our products and the strong global demand for our brand, following our recent momentum with distribution agreements in the UAE and Eastern Europe."
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 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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