Cosmos Health Signs Distribution Agreement with ProMed Trading for Its Sky Premium Life Food Supplements in Qatar

Rhea-AI Summary

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.

Positive

• 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

Negative

• None.

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 $17.04 billion in 2023, is projected to reach $30.72 billion by 2031, with a CAGR of 7.6%. This growth is driven by rising health awareness, the availability of various supplement formats in retail stores, and increasing disposable income.

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.

View the original press release on accesswire.com

FAQ

What is the new distribution agreement Cosmos Health (COSM) signed for its Sky Premium Life products?

Cosmos Health (COSM) signed a distribution agreement with ProMed Trading Company for its Sky Premium Life food supplement products in Qatar on July 25, 2024.

What will ProMed Trading Company handle for Cosmos Health (COSM) in Qatar?

ProMed will handle regulatory compliance, product registration, distribution, promotion, marketing, logistics, and sales of Sky Premium Life products in pharmacies and shops across Qatar.

What is the projected growth of the Middle East and Southeast Asia dietary supplements market?

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%.

How does this agreement align with Cosmos Health's (COSM) recent expansion efforts?

This agreement follows Cosmos Health's recent momentum with distribution agreements in the UAE and Eastern Europe, further expanding the global reach of their Sky Premium Life brand.