Cosmos Health Inc. (COSM), an integrated healthcare company, on Wednesday announced entering a five-year contract manufacturing agreement with Pharmex S.A. via its wholly owned subsidiary Cana Laboratories.
The company has agreed to manufacture three pharmaceutical products at Cana's EU-GMP-licensed, EMA-certified facility. The combined output over the five-year term is estimated to be 2.86 million units. The individual products and quantities are as follows:
i) BETAFUSIN - a pharmaceutical cream of betamethasone and fusidic acid. The company is slated to manufacture 450,000 units a year, or 2,250,000 units over five years.
ii) BOTAFEX- a cutaneous solution of Minoxidil. The company expects to manufacture 65,000 units a year, or 325,000 units over five years
iii) BUDESODERM- A cream/cutaneous solution of budesonide. 57,000 units a year are scheduled for production, or 285,000 units over five years.
The company anticipates that the deal will improve manufacturing capabilities and utilization of the EU manufacturing facility.
COSM is currently trading at $0.27, up 7.72%.
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