Business
Cosmos Health Secures 10-Year Long-Term Contract Manufacturing Order from Provident Pharmaceuticals for 4 Additional Products, Totaling 8 Million Packs, Significantly Expanding High-Margin Revenue Backlog and Cash Flow Visibility
CHICAGO, IL / ACCESS Newswire / February 7, 2025 / Cosmos Health Inc. ("Cosmos Health" or the "Company'') (NASDAQ:COSM), a diversified, vertically integrated
About this update from Cosmos Health Inc.
[{"type":"text","content":"CHICAGO, IL / ACCESS Newswire / February 7, 2025 / 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 its wholly owned subsidiary, Cana Laboratories (\"Cana\"), has entered into a new long-term ten-year contract manufacturing agreement with Provident Pharmaceuticals (\"Provident\"), a specialty pharmaceutical company, to produce four pharmaceutical products. These include Miorelique®, BE Union F.C., and two variations of Certorun, with a total production volume of 800,000 packs per year, or 8,000,000 packs over the ten-year period.Details of the AgreementThe agreement covers the production of Miorelique®, an oral solution containing the active ingredient Baclofen, with an annual production volume of 200,000 packs. This product follows Lioresal as the reference drug, a well-established muscle relaxant used to treat spasticity.It also includes the production of BE Union F.C. tablets, formulated with Thiamine, Pyridoxine, and Cyanocobalamin, with an annual production volume of 400,000 packs. These tablets are developed with Neurobion as the reference drug, a vitamin B-complex supplement commonly used for neuropathy and nerve health support.Additionally, the agreement covers the production of Certorun capsules, available in 50 mg and 100 mg formulations, containing the active ingredient Sertraline, with a combined annual production volume of 200,000 packs. This product follows Zoloft as the reference drug, an antidepressant widely prescribed for mood and anxiety disorders.Greg Siokas, CEO of Cosmos Health, stated: \"We are very pleased to expand our already successful collaboration with Provident, further accelerating the growth of our contract manufacturing business at Cana's state-of-the-art facilities. These additional orders from Provident underscore our capabilities, and we remain well-positioned to accommodate further contract manufacturing opportunities that contribute to stable, long-term, high-margin cash flows for Cosmos. Cana is currently operating with two shifts and has the ability to expand to three shifts, enabling the Company to operate ...