Cosmos Health Inc. (COSM), a commercial-stage healthcare and pharmaceutical company, announced the signing of a non-binding letter of intent or LOI to acquire a fully licensed GMP pharmaceutical manufacturer, Doc Pharma S.A.
If completed, the company expects the proposition to be accretive and support margin expansion, profitability, and cash flow. This would mark Cosmos Health's strategy to build a fully integrated, end-to-end healthcare platform.
Under the deal, Cosmos will acquire a wide variety of dosage forms that are certified as GMP, ISO, Kosher, and Halal, with site registrations for the UAE, Qatar, Iraq, and Lebanon.
Furthermore, this acquisition will enhance the product portfolio of Cosmos with advanced branded generics and OTC pharmaceutical products.
Greg Siokas, CEO of Cosmos Health, commented that this acquisition with Doc Pharma is a defining step in their vision to build a global and diversified healthcare company to expand their production capacity, strengthen margins, and create lasting value for their shareholders.
COSM shares closed Thursday at $0.206, down 9.69%. In the pre-market the shares are trading at $0.202, down 1.80%.
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