Cosmos Health Inc. (COSM), an integrated healthcare company, on Thursday announced second quarter revenues and provided business updates for CosmoFarm S.A., a wholly owned subsidiary of the company.
The company reported that CosmoFarm earned over $15 million in revenue for the second quarter. This brings the annualized run rate to over $60 million.
The company marked an expansion of 80 new pharmacies across Athens, making CosmoFarm one of the largest pharmaceutical wholesalers in the region.
To complement these developments, Cosmo is increasing capital expenditure investments in CosmoFarm, including for robotic automation and artificial intelligence to increase efficiency and customer satisfaction.
These investments build on CosmoFarm's existing automated infrastructure, including ROWA and SSI SCHÄFER A-frame robotic systems.
COSM closed Thursday at $0.21, down 11.92%. In the pre-market, shares are trading at $0.20, down 3.32%.
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