CHICAGO, IL / ACCESSWIRE / March 19, 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 it is in the final stages of securing regulatory approval to sell its biocide disinfectant hand soap, C-Scrub Wash 4% CHG ("C-Scrub"), in the United Kingdom (UK), and has obtained its inaugural purchase order.
Cosmos Health expects to obtain all necessary registration approvals from the UK's Health Security Agency (HSA), an executive agency of the Department of Health and Social Care. Approval will allow the authorized distribution of C-Scrub across the entire UK market.
Additionally, the Company expects to enter into agreements to supply the National Health Service (NHS), the publicly funded healthcare system of the UK, comprising the National Health Service in England, Scotland, and Wales, and the Health and Social Care in Northern Ireland.
C-Scrub, formulated with 4% chlorhexidine gluconate and supported by extensive clinical experience, is ideal for routine hand disinfection and targets a wide range of microbes, including bacteria, viruses, and fungi. It provides immediate and prolonged antimicrobial action, effective for 6 hours, even in the presence of biological fluids. Particularly suitable for users sensitive to iodine, it does not promote resistance, includes emollients for skin health, and is cosmetically friendly. Produced at the facilities of Cana Laboratories, it is available in sizes ranging from 250ml to 20L, suitable for use in a variety of healthcare environments, including hospitals and outpatient settings such as clinics, surgery rooms, emergency departments, wards, intensive care units, surgery centers, and other medical facilities.
According to Future Market Insights, the global hospital disinfectant products and services market size is estimated to be valued at $36.1 billion in 2023 and is expected to reach $75.6 billion by 2033. This reflects a compound annual growth rate (CAGR) of 7.7% during the forecast period, with the UK market playing a significant role.
Greg Siokas, Chief Executive Officer of Cosmos Health, stated: "We look forward to expanding C-Scrub in the United Kingdom, a very lucrative market for us. We also look forward to entering into a collaboration with the NHS, which is expected to provide an attractive stream of cash flows for Cosmos. Moreover, we are planning to enter several key non-EU markets, eyeing the lucrative global hospital disinfectant market which is expected to surpass $75 billion by 2033."
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, 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, 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, and 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.
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SOURCE: Cosmos Health Inc.