Cosmos Health Inc. - COSM STOCK NEWS

Cosmos Health (NASDAQ:COSM) has announced a non-binding letter of intent to acquire ZipDoctor Inc., a telemedicine platform, from American International Holdings Corp (AMIH). ZipDoctor, which offers 24/7 access to healthcare professionals via a subscription model, will continue to be managed by AMIH. The telehealth market is projected to grow from $23.8 billion in 2021 to $309.9 billion by 2030, driven by a shortage of healthcare professionals. Cosmos aims to enhance ZipDoctor's services, capitalizing on the significant growth potential in the telehealth sector.

Cosmos Holdings (NASDAQ: COSM) has signed an exclusive agreement with Virax Biolabs to distribute Monkeypox Virus Real-Time PCR Detection Kits in Greece and Cyprus, with potential for broader distribution in Europe. The deal aims to meet the increasing demand for efficient Monkeypox testing, as highlighted by the CDC's report of over 61,282 confirmed cases globally. CEO Greg Siokas expressed optimism about the partnership enhancing market access for these crucial diagnostic tools.

Virax Biolabs Group Limited (Nasdaq: VRAX) has entered an exclusive distribution agreement with Cosmos Holdings Inc. (Nasdaq: COSM) to market Monkeypox Virus Real-Time PCR Detection Kits in Greece and Cyprus, with non-exclusive distribution rights across Europe. This partnership aims to enhance rapid diagnosis and containment of the Monkeypox virus, a growing global health concern with over 61,000 confirmed cases reported in 104 countries as of September 16, 2022. Financial terms of the deal remain undisclosed.

Cosmos Health (Nasdaq: COSM) is expanding its Sky Premium Life nutraceutical line by launching products in Germany and Austria through an exclusive agreement with Mediprovita GbR. Starting in the Fourth Quarter, 20 SKUs will be available via platforms like Amazon and eBay. Cosmos aims to increase its offering to 70 SKUs and is leveraging Mediprovita's distribution expertise. This move is strategic as Germany holds the largest nutraceutical market in Europe, expected to grow significantly by 2027.

Cosmos Health (NASDAQ:COSM) announced the launch of its Sky Premium Life (SPL) products on Amazon in the U.S. The initiative is part of a broader strategy to have all 85 SKUs listed by year-end, following similar launches in the U.K. and Singapore. CEO Greg Siokas highlighted the company's aim to expand globally, leveraging logistic capabilities amid a growing nutraceutical market projected to reach $138 billion by 2027. Cosmos Health focuses on R&D of novel nutraceuticals and pharmaceuticals, aiming to enhance its international customer base.

Cosmos Health reported a business update and financial results for Q2 and the first half of 2022, highlighting a significant increase in profitability. The gross profit margin rose to 14.2% from 11.5% in 2021, leading to a $0.2 million income from operations compared to a loss of $3.1 million last year. The company launched a new line of nutritional supplements, Mediterranation, and expanded its distribution on Amazon. Operating expenses were reduced by 43.7% for Q2. Despite revenue declines, adjusted EBITDA turned positive with $1.07 million for the first half.

Cosmos Holdings (NASDAQ:COSM) announced a name change to Cosmos Health, aiming to better represent its transformation into a global healthcare group focused on improving lives. This rebranding aligns with the company's strategy to enhance its R&D partnerships, including CloudPharm, and a proposed acquisition of a GMP medical manufacturing facility. Cosmos Health emphasizes an innovative approach in developing pharmaceutical and nutraceutical products, leveraging advanced technologies. The formal name change will be completed after the upcoming annual shareholders meeting.

Cosmos Holdings (NASDAQ:COSM) has appointed Dr. Manfred Ziegler to its Advisory Board, enhancing its leadership team. Dr. Ziegler, with over 30 years of experience in finance and operations, previously served as CEO of CC Pharma and played a crucial role in its acquisition by Aphria in 2019. His expertise in mergers and acquisitions is expected to support Cosmos's growth strategy through international expansion and innovative product development. CEO Greg Siokas expressed optimism about Dr. Ziegler's contributions, recognizing his strong track record.

Cosmos Holdings (NASDAQ:COSM) announced a binding letter of intent to acquire Pharmaceutical Laboratories CANA S.A., a Greek pharmaceutical company. Founded in 1928, Cana is known for its manufacturing and distribution of diverse health products and has partnerships with major global companies such as AstraZeneca and Merck. This acquisition aims to enhance Cosmos's vertical integration and expand its product portfolio. The move is expected to strengthen its competitive position in the pharmaceutical market, leveraging Cana's established customer base and operational capabilities.