CHICAGO, Ill., March 10, 2026 (GLOBE NEWSWIRE) -- Cosmos Health Inc. ("Cosmos Health" or the "Company") (NASDAQ:COSM), a diversified, vertically integrated global healthcare group, today announced that it has entered into a Letter of Intent ("LOI"), through its wholly owned subsidiary CosmoFarm S.A. ("CosmoFarm"), with respect to the acquisition of an extensive pharmacy distribution network from an established pharmaceutical company serving the Greek market for almost 40 years. The term of the LOI is ninety (90) days from March 6, 2026.
The network currently generates approximately €10 million (approximately $11.5 million based on the prevailing EUR/USD exchange rate) in annual gross revenue and serves a broad base of pharmacy customers, supplying both pharmaceutical and para-pharmaceutical products.
The acquisition is expected to expand CosmoFarm's commercial reach and strengthen its distribution footprint. Once integrated into CosmoFarm's automated logistics platform, which utilizes advanced robotic technologies for procurement, inventory management, and order execution, the network is expected to benefit from improved operating efficiencies and enhanced service levels for pharmacies.
This transaction, which remains subject to the execution of the acquisition agreement containing the customary closing conditions, forms part of the Company's broader strategy to reach the revenue target for 2027 outlined in its previously announced guidance of $155.8 million. Cosmos Health intends to achieve this objective through a combination of organic growth across its core operating segments and a disciplined acquisition strategy designed to expand its distribution footprint, enhance operating scale, and drive profitability.
Greg Siokas, CEO of Cosmos Health, stated: "This proposed bolt-on acquisition aligns directly with our strategy of strengthening our core pharmaceutical distribution platform. By expanding our pharmacy network and leveraging our automated infrastructure, we expect to increase scale, improve operating efficiencies, and support continued revenue growth and profitability. We remain focused on disciplined execution and pursuing accretive transactions that create long-term shareholder value. We are actively evaluating additional opportunities and remain confident in our ability to reach the revenue targets set for 2027 under our previously announced guidance."
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®, C-Sept® and C-Scrub®. 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, www.cloudscreen.gr, 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. Words such as "believes," "expects," "anticipates," "intends," "projects," "estimates," "plans," and similar expressions, or future or conditional verbs such as "will," "should," "would," "may," and "could," generally identify forward-looking statements, although not all forward-looking statements contain these words. These statements involve risks and uncertainties that may individually or materially affect the matters discussed herein for a variety of reasons outside the Company's control, including, but not limited to: the Company's ability to raise sufficient financing to implement its business plan; the effectiveness of its digital asset strategies, including accumulation and yield-generating activities; the impact of 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 anticipated. Readers are encouraged to review 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 obligation to update or revise forward-looking statements, whether as a result of any new information, future events, or otherwise.
Investor Relations Contact:
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