CHICAGO, IL/ACCESSWIRE/July 20, 2022/ Cosmos Holdings, Inc. (“the company”) (NASDAQ: COSM), an international pharmaceutical company with an exclusive line of nutraceuticals and distributor of branded and generic pharmaceuticals, nutraceuticals, over-the-counter drugs and medical devices, announced today that it has entered into a binding letter of intent to to acquire Pharmaceutical Laboratories CANA SA(“Cana”) a Greek pharmaceutical company that manufactures, sells, distributes and markets original branded products researched and developed by leading global pharmaceutical and healthcare companies.

Founded in 1928, Cana has manufactured and distributed a wide range of proprietary pharmaceutical and healthcare products. Additionally, he has operated as a trusted partner of multinational pharmaceutical companies such as AstraZeneca, Janssen, Merck and Viatris as well as some of the largest Fast Moving Consumer Goods (FMCG) companies such as Nestlé, Unilever and P&G. Over the past decade, Cana Laboratories’ business has also ventured into medical devices, representing major medical technology companies such as Medtronic, Stryker and others in the Greek market.

Cana’s 54,000 square foot production facility in Athens, Greece is European Good Manufacturing Practices (GMP) approved and EMA certified to manufacture pharmaceuticals, dietary supplements, cosmetics, biocides and medical devices. It has a variety of production lines that can produce solids, orals, semi-solids and liquids. The company is ISO 9001:2015 certified. Cana’s diverse customer base includes public and private hospitals, pharmacies, supermarkets, wholesalers, etc. In addition, its portfolio of exclusive products includes pharmaceuticals, dermocosmetics, antiseptics and food supplements, as well as a range of biological products for babies, Biobebe.

Kosta Kanaroglou, CEO of Cana Laboratories, said, “We are thrilled to join the Cosmos team as they share our dedication to health and wellness, as well as our high quality product standards. Cana is a 4th generation family business with a vision to serve the community by developing, manufacturing and distributing products that deliver innovative solutions to patients, while adhering to the highest standards of business ethics. This acquisition is expected to enable Cana to grow its contract manufacturing customer base, reposition its existing product portfolio and invest in new ones. We look forward to becoming part of the Cosmos family and contributing together to the development and launch of innovative pharmaceutical products. »

Greg Siokas, Chairman and CEO of Cosmos Holdings, said, “We welcome Cana to our group, an acquisition that delivers on our commitment to grow through strategic mergers and acquisitions. We believe that this acquisition will not only allow us to achieve many synergies, but will also be a transformation for Cosmos by strengthening our vertical integration and expanding our product portfolio. Cana’s extensive business experience and diverse customer base will also prove invaluable as we execute the relaunch and expansion of multiple brands. We look forward to working with Kosta Kanaroglou and his team to build on the success of Cosmos.”

Additional details of the transaction will be available in the company’s Form 8-K filing with the United States Securities and Exchange Commission.

About CANA SA Pharmaceutical Laboratories

Pharmaceutical Laboratories CANA SA is a Greek company founded in 1928, which manufactures and distributes a wide range of pharmaceutical and health-related products, both proprietary and in partnership with multinational companies. More information about Cana can be found at www.cana.gr.

About Cosmos Holdings, Inc.

Cosmos Holdings Inc. (Nasdaq: COSM) is an international healthcare group incorporated in 2009 and headquartered in Chicago, Illinois. The group is committed to the nutraceutical sector through its own lines of proprietary products “Sky Premium Life” and “Mediterranation”. Cosmos Holdings Inc. also operates in the pharmaceutical sector, providing a wide range of branded generics and over-the-counter drugs. In addition, the group is present in the healthcare distribution sector through its subsidiaries in Greece and the United Kingdom serving retail pharmacies and wholesale distributors. Cosmos Holdings Inc. is strategically focused on the R&D of novel patented (PI) nutraceuticals and specialty root extracts as well as the R&D of proprietary complex generics and innovative OTC products. Cosmos has developed a global distribution platform and is currently expanding across Europe, Asia and North America. Cosmos Holdings has offices and distribution centers in Thessaloniki and Athens, Greece, and Harlow, UK. More information is available at www.cosmosholdingsinc.com and www.skypremiumlife.com.

Forward-looking statements

Except for historical information contained in this press release, 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, followed or otherwise include the words “believes”, “expects”, “anticipates”, “intends”, “projects”, “estimates”, “plans” and similar expressions or future or conditional verbs such as “shall”, “should”, “should”, “may” and “could”, are generally forward-looking in nature and not historical fact, although not all forward-looking statements include this who is before. These statements involve unknown risks and uncertainties that may individually or materially affect the matters discussed herein for a variety of reasons beyond the Company’s control, including, but not limited to, the Company’s ability to raise sufficient funding to implement its business plans, the impact of the COVID-19 pandemic and the war in Ukraine, on the Company’s business, operations and economy generally, and the ability to the Company to successfully develop and market 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 on 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.

Contact with Investor Relations:

Crescendo Communications, LLC
Tel: 212-671-1020
Email: [email protected]

THE SOURCE: Cosmos Holdings, Inc.

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