CHICAGO, IL / ACCESSWIRE / July 20, 2022 / Cosmos Holdings, Inc. (“the Firm”) (NASDAQ:COSM), a global pharmaceutical firm with a proprietary line of nutraceuticals and distributor of branded and generic prescription drugs, nutraceuticals, OTC drugs and medical units, at present introduced that it has entered right into a binding letter of intent to accumulate Pharmaceutical Laboratories CANA S.A., (“Cana”)a Greek pharmaceutical firm that manufactures, sells, distributes, and markets unique branded merchandise researched and developed by main world pharmaceutical and healthcare corporations.
Based in 1928, Cana has manufactured and distributed a broad vary of proprietary pharmaceutical and well being associated merchandise. Moreover, it has operated as a trusted associate of multinational pharmaceutical corporations equivalent to AstraZeneca, Janssen, Merck and Viatris in addition to a number of the largest Quick Transferring Client Items (FMCG) corporations equivalent to Nestle, Unilever and P&G. Within the final decade, Cana Laboratories’ actions additionally ventured into medical units, representing main medical expertise corporations equivalent to Medtronic, Stryker and others within the Greek market.
Cana’s 54,000 sq. ft owned manufacturing facility situated in Athens, Greece, is licensed below European Good Manufacturing Practices (GMP) and authorized by EMA to fabricate prescription drugs, meals dietary supplements, cosmetics, biocides and medical units. It has a wide range of manufacturing traces that may produce solids, orals, semi solids and liquids. The corporate is ISO 9001:2015 licensed. Cana’s diversified buyer base contains public & non-public hospitals, pharmacies, supermarkets, wholesalers, and so on. Moreover, its proprietary product portfolio contains prescription drugs, dermocosmetics, antiseptics, and meals dietary supplements, in addition to an toddler care natural product line, Biobebe.
Kosta Kanaroglou, CEO of Cana Laboratories, acknowledged, “We’re happy to be becoming a member of the Cosmos crew as they share our dedication to well being and wellness, in addition to our top quality product requirements. Cana is a 4th technology household enterprise with the imaginative and prescient to serve the neighborhood by growing, manufacturing and distributing merchandise that provide revolutionary options to sufferers, whereas adhering to the best requirements of enterprise ethics. This acquisition ought to enable Cana to develop its contract manufacturing buyer base, reposition its present product portfolio and spend money on new proprietary merchandise. We stay up for being a part of the Cosmos household and aiding within the improvement and launching of revolutionary pharmaceutical merchandise collectively.”
Greg Siokas, Chief Government Officer of Cosmos Holdings, commented, “We welcome Cana to our group, an acquisition that delivers on our dedication to develop by way of strategic M&As. We imagine this acquisition not solely will enable us to appreciate quite a few synergies however can even be a transformative for Cosmos by strengthening our vertical integration and increasing our product portfolio. Cana’s in depth business expertise and diversified buyer base can even show to be invaluable as we execute on relaunching and increasing a number of manufacturers. We stay up for working with Kosta Kanaroglou and his crew to construct upon Cosmos’ success.”
Further particulars on the transaction shall be out there within the Firm’s Kind 8-Okay to be filed with the U.S. Securities and Change Fee.
About Pharmaceutical Laboratories CANA S.A.
Pharmaceutical Laboratories CANA S.A. is a Greek firm based in 1928, that manufactures and distributes a variety of pharmaceutical and well being associated merchandise, each proprietary in addition to in partnership with multinational corporations. Extra details about Cana could be discovered at www.cana.gr.
About Cosmos Holdings, Inc.
Cosmos Holdings Inc. (Nasdaq: COSM) is a global healthcare group that was integrated in 2009 and is headquartered in Chicago, Illinois. The group in engaged within the nutraceuticals sector by its personal proprietary traces of merchandise “Sky Premium Life” and “Mediterranation”. Cosmos Holdings Inc. is working within the pharmaceutical sector as properly, by the availability of a broad line of branded generics and OTC drugs. As well as, the group is concerned within the healthcare distribution sector by its subsidiaries in Greece and UK serving retail pharmacies and wholesale distributors. Cosmos Holdings Inc. is strategically specializing in the R&D of novel patented nutraceuticals (IP) and specialised root extracts in addition to on the R&D of proprietary complicated generics and revolutionary OTC merchandise. Cosmos has developed a worldwide distribution platform and is presently increasing all through Europe, Asia and North America. Cosmos Holdings has workplaces and distribution facilities in Thessaloniki and Athens, Greece and Harlow, UK. Extra info is obtainable at www.cosmosholdingsinc.com and www.skypremiumlife.com.
Apart from the historic info contained on this information launch, the issues described herein, could include forward-looking statements inside the which means of Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Change Act of 1934, as amended. Statements preceded by, adopted by, or that in any other case, embrace the phrases “believes,” “expects,” “anticipates,” “intends,” “tasks,” “estimates,” “plans” and related expressions or future or conditional verbs equivalent to “will,” “ought to,” “would,” “could” and “might”, are usually forward-looking in nature and never historic details, though not all forward-looking statements embrace the foregoing. These statements, contain unknown dangers and uncertainties that will individually or materially impression the issues mentioned, herein for a wide range of causes which can be outdoors the management of the Firm, together with, however not restricted to, the Firm’s capability to boost adequate financing to implement its marketing strategy, the impression of the COVID-19 pandemic and the warfare in Ukraine, on the Firm’s enterprise, operations and the financial system on the whole, and the Firm’s capability to efficiently develop and commercialize its proprietary merchandise and applied sciences. Readers are cautioned to not place undue reliance on these forward- trying statements, as precise outcomes might differ materially from these described within the forward-looking statements contained herein. Readers are urged to learn the danger components set forth within the Firm’s filings with the SEC, which can be found on the SEC’s web site (www.sec.gov). The Firm disclaims any intention or obligation to replace, or revise any forward-looking statements, whether or not because of new info, future occasions or in any other case.
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SOURCE: Cosmos Holdings, Inc.
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