Proactiveinvestors USA & Canada Cosmos Holdings Inc https://www.proactiveinvestors.com Proactiveinvestors USA & Canada Cosmos Holdings Inc RSS feed en Sat, 23 Mar 2019 01:41:57 -0400 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Cosmos Holdings names agribusiness exec Vassos Efthymiadis to advisory board ]]> https://www.proactiveinvestors.com/companies/news/214987/cosmos-holdings-names-agribusiness-exec-vassos-efthymiadis-to-advisory-board-214987.html Cosmos Holdings Inc (OTCQB:COSM) has added executive Vassos Efthymiadis to its advisory board.

Efthymiadis boasts considerable experience in the agribusiness sector and joins the board of the international pharmaceutical company, having served as Managing Director of K&N Efthymiadis SA and the vice-president of the Redestos Agrotechnology Group, two agribusiness companies in Greece.

READ: Cosmos Holdings pays off all its convertible debt

Efthymiadis is also president of the Hellenic Crop Protection Association and a board member of the Hellenic Association of Chemical Industries.

Grigorios Siokas, CEO of Cosmos, is bullish on Efthymiadis’s appointment, citing his expertise in European exports. “His experience with exports to various countries of Southeastern Europe will provide valuable insight as we expand. We are excited to welcome him to the Cosmos team,” Siokas said in a statement.

READ: Cosmos Holdings focuses on Europe as it expands its global wholesale pharmaceutical business

Efthymiadis is keen to start at Cosmos. “Coming from a not so dissimilar business segment, I feel confident my experience can contribute to the vision Greg and his great team are shaping regarding the future of the company and the best way to ensure its long-term growth,” he said in a statement.

Cosmos Holdings is a pharmaceutical wholesaler with offices and warehouses in Thessaloniki and Athens, Greece as well as the UK.

Cosmos shares traded 1.7% higher to hit $3.50 on Wednesday morning.

Contact Ellen Kelleher at ellen@proactiveinvestors.com

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Wed, 20 Feb 2019 12:01:00 -0500 https://www.proactiveinvestors.com/companies/news/214987/cosmos-holdings-names-agribusiness-exec-vassos-efthymiadis-to-advisory-board-214987.html
<![CDATA[News - Cosmos Holdings pays off all its convertible debt ]]> https://www.proactiveinvestors.com/companies/news/214108/cosmos-holdings-pays-off-all-its-convertible-debt-214108.html Cosmos Holdings Inc (OTCQB:COSM) announced Wednesday that the international pharmaceutical company has paid off the remaining balance of its convertible notes.

The aggregate initial principal amounts of the notes totaled $5,583,333.

"We are excited to announce the repayment of all our convertible debt,” said Cosmos Holdings CEO Gregory Siokas. “With the acquisition of Cosmofarm that closed in December of last year, and this note repayment, we believe are well-positioned for growth in 2019." 

READ: Cosmos posts 3Q profit and strong profit margins on booming drug sales and bolstered balance sheet

Established in 1994, Cosmofarm is a pharmaceutical wholesale company in Athens, which provides a comprehensive range of products. Its core business focuses on sourcing and distributing branded and generic medicines, over-the-counter pharmaceuticals, food supplements and medical devices to more than 1,130 pharmacies.

Cosmofarm conducts business with as many as 250 pharmaceutical manufacturers and wholesalers and reported sales of about $14 million for the 2017 fiscal year.

Cosmos Holdings specializes in acquiring, developing, and commercializing medicines. Cosmos Holdings has offices and distribution centers in Thessaloniki, Greece and in the UK.

Shares in Cosmos Holdings traded flat at $2.89.

Contact Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive 

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Wed, 06 Feb 2019 10:18:00 -0500 https://www.proactiveinvestors.com/companies/news/214108/cosmos-holdings-pays-off-all-its-convertible-debt-214108.html
<![CDATA[News - Cosmos Holdings appoints top portfolio manager to advisory board ]]> https://www.proactiveinvestors.com/companies/news/212421/cosmos-holdings-appoints-top-portfolio-manager-to-advisory-board-212421.html Cosmos Holdings Inc (OTCQB:COSM) announced Friday that portfolio manager Tom Kolefas has been tapped to serve on its advisory board.

Kolefas joins the international pharmaceutical company after more than 25 years spent on Wall Street’s buyside where he managed both mutual funds and institutional equities at TIAA Investments, Jennison Associates, Loomis Sayles, Mackay-Shields and Bank of New York.

READ: Cosmos Holdings acquires Cosmofarm in Greece

Kolefas also boasts considerable industry experience as a chemical engineer and corporate development officer at Engelhard/BASF.

“Tom Kolefas brings a wealth of expertise to our company,” said Grigorios Siokas, CEO of Cosmos in a statement. “He has a track record for success in identifying value within the mid-cap space. We look forward to his contribution as we position ourselves for continued growth.”

For his part, Kolefas is eager to come on board at Cosmos and advance its business efforts.

READ: Cosmos Holdings focuses on Europe as it expands its global wholesale pharmaceutical business

“Cosmos has a well-thought out, balanced strategy of organic growth, market share gains, new product introductions and acquisitions to capitalize on the growth in the drug, nutraceutical, vitamin and Europe-only cannabis end-markets in Europe, the U.S. and ultimately, the rest of the world," Kolefas said in a statement.

Cosmos Holdings Inc. is an international pharmaceutical company that specializes in acquiring, developing, and commercializing medicines. Cosmos Holdings has offices and distribution centers in Thessaloniki, Greece and in the UK.

Cosmos shares closed up 8.3% to hit $3.00 on Thursday.

Contact Ellen Kelleher at ellen@proactiveinvestors.com

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Fri, 11 Jan 2019 09:25:00 -0500 https://www.proactiveinvestors.com/companies/news/212421/cosmos-holdings-appoints-top-portfolio-manager-to-advisory-board-212421.html
<![CDATA[News - Cosmos Holdings acquires Cosmofarm in Greece ]]> https://www.proactiveinvestors.com/companies/news/211675/cosmos-holdings-acquires-cosmofarm-in-greece-211675.html Cosmos Holdings Inc (OTCQB:COSM) has closed its acquisition of Cosmofarm Ltd, a privately held pharmaceutical company based in Greece.

Established in 1994, Cosmofarm is a pharmaceutical wholesale company in Athens, which provides a comprehensive range of pharmaceutical products. Its core business focuses on sourcing and distributing branded and generic medicines, over-the-counter pharmaceuticals, food supplements and medical devices to more than 1,130 pharmacies.

READ: Cosmos posts 3Q profit and strong profit margins on booming drug sales and bolstered balance sheet

Cosmofarm conducts business with as many as 250 pharmaceutical manufacturers and wholesalers and reported sales of about $14 million for the 2017 fiscal year.

The financial details of the Cosmofarm acquisition haven’t been disclosed.

Cosmos Holdings CEO Gregory Siokas is bullish about the takeover and so are investors who sent Cosmos shares up by 9.4% to $3.50 in Friday’s morning trading session.

READ: Cosmos Holdings focuses on Europe as it expands its global wholesale pharmaceutical business

“We are excited to announce the closing of this acquisition and to have Cosmofarm’s talented team become part of Cosmos Holdings,” Siokas said. “Cosmofarm will play a key role in increasing sales of our SkyPremium Life product line to pharmacies."

Cosmofarm is in the process of relocating to a new 32,000 square foot facility that features a robotic fulfillment center and offers 20 times the capacity of its old warehouse, according to Siokas.

Cosmos Holdings Inc. is a pharmaceutical wholesaler with offices and warehouses in Thessaloniki, Greece and in Harlow, UK.  The Chicago-based company conducts business in Germany, the United Kingdom, Ireland, the United Arab Emirates, Denmark, Italy, France, Singapore, Spain, Lebanon, Jordan, Sweden, Poland, the Netherlands, and Greece. 

 

Contact Ellen Kelleher at ellen@proactiveinvestors.com 

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Fri, 21 Dec 2018 09:43:00 -0500 https://www.proactiveinvestors.com/companies/news/211675/cosmos-holdings-acquires-cosmofarm-in-greece-211675.html
<![CDATA[News - Cosmos Holdings welcomes prominent oncologist to advisory board ]]> https://www.proactiveinvestors.com/companies/news/210143/cosmos-holdings-welcomes-prominent-oncologist-to-advisory-board-210143.html Cosmos Holdings Inc (OTCQB:COSM) is bolstering its advisory board with the appointment of Dr. Ioannis Dedes, a prominent radiologist and oncologist.

Dr. Dedes is a founding member of the Society of Interventional Oncology and a director of the Endovascular Interventional Radiology department at the Interbalkan European Medical Center in Thessaloniki, Greece.

READ: Cosmos Holdings focuses on Europe as it expands its global wholesale pharmaceutical business

Cosmos CEO Grigorios Siokas is keen on Dedes’ elevation to the board, citing his healthcare expertise.

“Dr. Ioannis Dedes brings a wealth of experience to our group,” noted Siokas in a statement. “Dr. Dedes’s addition to our board will provide strategic and tactical support to our enterprise healthcare process, as well as our business development.”

Dedes’ appointment follows the recent addition of Anastasios Tzikas, the former CEO of Singular Northern Greece SA, one of Greece’s largest software vendors, to the Cosmos board.

Cosmos is an international pharmaceutical company with offices and distribution centers in Greece and the United Kingdom.

Cosmos shares slipped slightly to close at $6.99 on Tuesday.

Contact Ellen Kelleher at ellen@proactiveinvestors.com

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Wed, 28 Nov 2018 09:32:00 -0500 https://www.proactiveinvestors.com/companies/news/210143/cosmos-holdings-welcomes-prominent-oncologist-to-advisory-board-210143.html
<![CDATA[News - Cosmos Holdings welcomes Anastasios Tzikas to the board as it looks to expand internationally ]]> https://www.proactiveinvestors.com/companies/news/209707/cosmos-holdings-welcomes-anastasios-tzikas-to-the-board-as-it-looks-to-expand-internationally-209707.html Cosmos Holdings Inc (OTCQB:COSM) welcomed a new member to its advisory board as it looks to drive international growth.

Anastasios Tzikas was formerly the CEO of Singular Northern Greece SA, one of Greece’s largest software vendors.

BIG PICTURE: Cosmos Holdings focuses on Europe as it expands its global wholesale pharmaceutical business

CEO Grigorios Siokas said Tzikas has a lot of experience to bring to the table.

“His tenure as former CEO of a listed multinational company and as president of well-recognized organizations makes him a great addition to our advisory board,” said Siokas in the company’s press release.

Tzikas serves as the president of several tech-focused organizations, including Thessaloniki International Fair HELEXPO SA, Federation of Hellenic Information Technology & Communications and Technopolis Thessaloniki ICT Business Park.

Cosmos is an international pharmaceutical company with offices and distribution centers in Greece and the United Kingdom.

Shares of Cosmos were down more than 5% to $7 in Wednesday afternoon training.

 

Contact Lenore Fedow at lenore@proactiveinvestors.com

Follow her on Twitter: @LenoreMariee

 

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Wed, 21 Nov 2018 14:32:00 -0500 https://www.proactiveinvestors.com/companies/news/209707/cosmos-holdings-welcomes-anastasios-tzikas-to-the-board-as-it-looks-to-expand-internationally-209707.html
<![CDATA[News - Cosmos posts 3Q profit and strong profit margins on booming drug sales and bolstered balance sheet ]]> https://www.proactiveinvestors.com/companies/news/209201/cosmos-posts-3q-profit-and-strong-profit-margins-on-booming-drug-sales-and-bolstered-balance-sheet-209201.html The international pharmaceutical company Cosmos Holdings (OTCQB:COSM) swung to a profit in the third quarter and boosted its profit margins as it strengthened its balance sheet and worked towards its goal of uplisting to the Nasdaq.

For the three months ended September 30, its net profit jumped to $3.2 million, or $0.24 per share, up from a loss of $198,000, or $0.02 per share, for the corresponding period last year. Over the same period, its gross profit margin also rose to 9.3% from 8.1% for the year-ago period.

Operating revenues came to $29.3 million for the nine months ended September 30, up from $19.8 million for the same period last year.

The company also kept a lid on its costs, with its total operating expenses falling to $2.3 million for the nine months ended September 30, from $4.4 million for the same period last year.

In a statement, CEO Grigorios Siokas was bullish on Cosmos’s outlook and said future acquisitions were next.

BIG PICTURE: Cosmos Holdings focuses on Europe as it expands its global wholesale pharmaceutical business

“We maintain our strong focus on organic growth and strategic acquisitions, starting with the pending closing of Cosmofarm LLC and continuing to look towards acquisition targets in Central Europe and North America,” Siokas said.

“I am delighted to announce that the company delivered record quarterly net profit and increased gross profit margins. In addition, during this quarter, the company has strengthened its balance sheet and improved stockholders’ equity. We continue to work towards uplisting onto a national securities exchange,” he added.

Last June, Cosmos raised its profile by formally submitting an application to uplist its common stock to the Nasdaq Composite stock exchange from the OTCQB Venture market.

The move underlines the strides Cosmos has made in strengthening its corporate governance and positioning itself for growth and profitability.

READ: Cosmos Holdings applies to list on the Nasdaq

Cosmos is an international pharmaceutical company with offices and distribution centers in Thessaloniki, Greece and in Harlow in the United Kingdom.

Cosmos shares closed up 13.4% to hit $4.99 on Tuesday.

Contact Ellen Kelleher at ellen@proactiveinvestors.com

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Wed, 14 Nov 2018 09:24:00 -0500 https://www.proactiveinvestors.com/companies/news/209201/cosmos-posts-3q-profit-and-strong-profit-margins-on-booming-drug-sales-and-bolstered-balance-sheet-209201.html
<![CDATA[News - Cosmos Holdings reports strong 2Q results thanks to booming pharmaceutical sales ]]> https://www.proactiveinvestors.com/companies/news/203077/cosmos-holdings-reports-strong-2q-results-thanks-to-booming-pharmaceutical-sales-203077.html Cosmos Holdings Inc (OTCQB:COSM), the Chicago-based international pharmaceutical company, announced Thursday that its revenue and profit catapulted higher in the second-quarter thanks to booming sales of its repetoire of pharmaceutical products.

For the three months ended June 30, Cosmos’s net profit came in at US$782,000 compared with a net loss of US$839,000 in the year-ago quarter.

Revenue, meanwhile, climbed to US$8.8mln, which was 45% higher than the US$6.1mln in revenue recorded in the same period last year.

Big Picture: Cosmos Holdings focuses on Europe as it expands its global wholesale pharmaceutical business

“I am pleased to announce the first half of this year was filled with opportunities for us due to the aggressive sales and marketing efforts we implemented in 2017,” said CEO Grigorios Siokas in a statement. “We are excited about our growth prospects for the future."

Based in Chicago, Cosmos Holdings is a pharmaceutical company with offices and warehouses in Thessaloniki, Greece and Harlow, UK. The company has a trans-European network of over 160 clients and vendors and conducts business in Germany, the United Kingdom, Ireland, the United Arab Emirates, Denmark, Italy, France, Singapore, Spain, Lebanon, Skopje, Jordan, Sweden, Poland, Netherlands, and Greece.

Cosmos made several advances in the quarter. In June, the company raised its profile by formally submitting an application to uplist its common stock to the Nasdaq Composite stock exchange from the OTCQB Venture market. The move underlines the strides Cosmos has made in positioning itself for growth and profitability.

Read: Cosmos Holdings applies to list on the Nasdaq

Cosmos also recently moved to acquire Cosmofarm Ltd, a privately-held wholesale pharmaceutical group based in Athens, Greece. The main line of work for Cosmofarm, which has been conducting business in Athens since 1983, is the purchase, sale and distribution of branded and generic medicines.

For the six months ended June 30, Cosmos’s revenues swung to US$20.8mln, which was more than double the US$10.2mln the company recorded for the same period in the prior year.

Its gross profit, meanwhile, came to US$1.3mln for the six months until the end of the second quarter, up from US$843,000 in the prior year.

Cosmos shares rose 1.5% to finish trading at US$7 Wednesday.

Contact Ellen Kelleher at ellen@proactiveinvestors.com

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Thu, 16 Aug 2018 08:49:00 -0400 https://www.proactiveinvestors.com/companies/news/203077/cosmos-holdings-reports-strong-2q-results-thanks-to-booming-pharmaceutical-sales-203077.html
<![CDATA[News - Cosmos Holdings transfers its interest in Marathon Global to a cannabis investment firm ]]> https://www.proactiveinvestors.com/companies/news/201471/cosmos-holdings-transfers-its-interest-in-marathon-global-to-a-cannabis-investment-firm-201471.html Pharmaceutical wholesaler Cosmos Holdings Inc (OTCQB:COSM) announced Tuesday that it has transferred its interest in the medical cannabis group Marathon Global to the investment firm Kaneh Bosm BioTechnology Inc (CSE:KBB).

Under the terms of the share exchange agreement, Cosmos has swapped its undisclosed stake in Marathon Global for 10 million shares of Kaneh Bosm, a Canadian-listed investment firm that specializes in the acquisition of marijuana projects and cannabis-related companies.

Cosmos will control about 7% of the 141,219,108 shares of stock that Kaneh Bosm issued.

As part of the deal, Cosmos will still distribute Marathon Global’s line of medical cannabis products as well as its cannabis derivatives to its clients in countries where medical cannabis is approved for sale.

BIG PICTURE: Cosmos Holdings focuses on Europe as it expands its global wholesale pharmaceutical business

“I am pleased to announce this agreement will provide Cosmos with additional product lines, all of which we anticipate will increase revenues and profitability on a global scale,” said Cosmos CEO Gregory Siokas in a statement.

Based in Chicago, Cosmos Holdings is a pharmaceutical wholesaler with offices and warehouses in Thessaloniki, Greece and Harlow, UK. The company has a trans-European network of over 160 clients and vendors and conducts business in Germany, the United Kingdom, Ireland, the United Arab Emirates, Denmark, Italy, France, Singapore, Spain, Lebanon, Skopje, Jordan, Sweden, Poland, Netherlands, and Greece.

Kaneh Bosm specializes in the acquisition of marijuana projects and cannabis-related companies while Marathon Global is a private Canadian company specializing in the supply of cannabis.

The use of cannabis for medical purposes is slowly being accepted by governments, with countries such as the Netherlands, Italy and Germany taking the lead with early adoption of regulations. Canada recently legalized the recreational use of marijuana.

Cosmos Holdings shares held steady at US$6.70 in morning trade.

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Tue, 24 Jul 2018 11:02:00 -0400 https://www.proactiveinvestors.com/companies/news/201471/cosmos-holdings-transfers-its-interest-in-marathon-global-to-a-cannabis-investment-firm-201471.html
<![CDATA[News - Cosmos Holdings buys Cosmofarm Ltd ]]> https://www.proactiveinvestors.com/companies/news/199976/cosmos-holdings-buys-cosmofarm-ltd-199976.html Cosmos Holdings Inc (OTCQB:COSM), the Chicago-based wholesale pharmaceutical company, is on the acquisition trail again as it is acquiring Cosmofarm Ltd, a wholesale pharmaceutical group based in Athens, Greece.

The main line of work for Cosmofarm, which has been conducting business in Athens since 1983, is the purchase, sale and distribution of branded and generic medicines.

Under the deal’s terms, 100% of the shares of the privately-held Cosmofarm will be acquired by Cosmos.

“The acquisition of Cosmofarm allows us to expand our network and vertically integrate our operations for maximum sales opportunities, while benefitting from lowering our costs from an operational standpoint,” said Cosmos CEO Gregory Siokas.

Cosmos is a pharmaceutical wholesaler and exporter with offices and warehouses in Thessaloniki, Greece, and in Harlow, the UK.  The company conducts business in 16 countries including Germany, the United Kingdom, Ireland, Denmark, Italy, France, Spain, Sweden, Poland, Netherlands, and Greece.

The company recently raised its profile, with the formal submission of an application to uplist its common stock to the Nasdaq Composite stock exchange from the OTCQB Venture market.

Read: Cosmos Holdings applies to list on the Nasdaq

The uplisting, which is still subject to Nasdaq approval, would increase the liquidity of  Cosmos stock and draw a wider audience of investors.

The closing of the Cosmosfarm acquisition is set to take place during the third quarter of this year. Financial details for the deal aren't being disclosed at this time.

Cosmofarm has a client network of more than 320 pharmacies and clinics, and over 250 vendors of pharmaceutical and wholesale companies.

Cosmos shares jumped 5.3% to US$6.75 on the news.

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Mon, 02 Jul 2018 10:50:00 -0400 https://www.proactiveinvestors.com/companies/news/199976/cosmos-holdings-buys-cosmofarm-ltd-199976.html
<![CDATA[News - Cosmos Holdings focuses on Europe as it expands its global wholesale pharmaceutical business ]]> https://www.proactiveinvestors.com/companies/news/197138/cosmos-holdings-focuses-on-europe-as-it-expands-its-global-wholesale-pharmaceutical-business-197138.html It seems fitting that Cosmos Holdings Inc.(OTCMKTS:COSM), a Chicago-based pharmaceutical holding company, would have a subsidiary in Greece, which is one of the largest exporters in the European pharmaceutical parallel trade.

Cosmos is a modern company, but the trade routes it relies on are ancient, and in a way that the ancient Greeks might approve of it is building an empire in the pharma sector that extends from the Byzantine port city of Thessaloniki all the way through to Scandinavia.

The way Cosmos operates in the parallel trade market – which allows for the free movement of goods across Europe from lower value to higher value markets – is by arbitraging and profiting from price differences in brand-name drugs, which might cost less in Greece than they do in, say, Germany.

“We purchase as much in the way of excess-branded pharmaceuticals products as we can,” says Konstantinos Vassilopoulos, the U.S. finance manager of Cosmos, who is based in Chicago. “And we export those products to wholesalers throughout Europe.”

When considering Cosmos, one must glance first at its meteoric growth. When Cosmos began trading in the European parallel pharmaceutical market in the fourth quarter of 2015, it reported just US$533,000 in annual revenue and was only doing business in Germany, the UK, Greece and Poland. By last year, its yearly revenue figure was more than 56 times higher at US$30mln and the company was engaged in the wholesale pharma trade across Sweden, Jordan, the Netherlands, the United Arab Emirates and 12 other countries, and showing a gross profit of US$1.96mln.

It's also recently raised its profile by formally submitting an application to uplist its common stock to the Nasdaq Composite stock exchange from the OTCQB Venture market.

Building a European-wide network

Cosmos’s first stop on its trading route is northern Europe. Keen to ramp up its presence in Germany, Cosmos’s management team is in discussions to acquire a German-based wholesaler that specializes in re-importing pharmaceuticals from other European Union countries. The motivation behind this proposed takeover is that Germany is the European country where drugs are most in demand since it is Europe’s largest economy and the country’s legislation favors the parallel importation of pharmaceutical products.

“Germany absorbs approximately 50% of the excess branded pharmaceuticals in the European pharmaceutical market. It’s the largest pharmaceutical parallel importer of products,” explains Vassilopoulos. “Quite a few synergies will come out of this German acquisition. We hope to have news concerning the acquisition within the next few months. We’re still in negotiations.”

Deal with Canadian marijuana company Marathon Global

The German acquisition is not Cosmos’s only recent advance in Europe. The group also revealed this year that it would do a deal to distribute the Canadian cannabis supplier Marathon Global Inc.’s line of medical marijuana products across the EU, and acquired Cosmofarm Ltd, a wholesale pharmaceutical group, which has operated in Athens since 1983.

The deal with the German wholesaler is still being ironed out and Europe’s medical marijuana market is still taking shape, but that is not much of a worry for Cosmos as it already boasts a wide network of clients looking to buy and sell pharmaceuticals across Europe.

The engine behind Cosmos Holdings

Indeed, Cosmos controls two businesses that are intertwined to support its growth. The first is Sky Pharm, a Thessaloniki-based company, which trades the excess amounts of as many as 500 medicines across Europe.

The second is Decahedron Ltd, a UK-based pharmaceutical wholesaler, which is also involved in the importing and exporting of drugs and medical devices across much of northern Europe as well as in the United Arab Emirates and Singapore.

Grigorios Siokas, Cosmos’s chief executive also owns Doc Pharma, a maker of food and vitamin supplements, which is headquartered in Thessaloniki. “Grigorios owns Doc Pharma and is leveraging its capabilities to help Cosmos enter into the Nutraceutical sector, he hopes to roll up his company into Cosmos when the time is right,” explains Vassilopoulos.

Push into dietary and natural food supplements

By selling Doc Pharma contract-manufactured dietary and natural food supplements, Cosmos is also taking steps to widen its repertoire beyond pharmaceuticals. With dietary supplements offering very attractive gross margins, management is bullish on rolling out of their own product line of supplements.

“Wholesale branded pharmaceutical products are the key revenue generators for the company,” says Vassilopoulos. “We will begin to add food supplements and other products to our distribution network in the coming quarters.”

Looking to the United States

Attention is now being focused on Europe, but the hope is that Cosmos’s reach will at some point extend to the U.S. This is why its management chooses to keep its headquarters in Chicago, despite Chief Executive Grigorios Siokas living in and conducting most of Cosmos’s business from Greece.

Going forward, the plan is for Cosmos’s management team to find acquisition targets that will enable it to get its wholesale business off to an explosive start in the US. The company will also look to sell its own nutritional supplements directly to US stores and expects to have a toe-hold in the US by early next year.

“We are keeping our eyes open for acquisitions in the US,” concludes Vassilopoulus. “We expect to enter the U.S. market in the near future.”

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Mon, 25 Jun 2018 09:30:00 -0400 https://www.proactiveinvestors.com/companies/news/197138/cosmos-holdings-focuses-on-europe-as-it-expands-its-global-wholesale-pharmaceutical-business-197138.html
<![CDATA[News - Cosmos Holdings applies to list on the Nasdaq ]]> https://www.proactiveinvestors.com/companies/news/199505/cosmos-holdings-applies-to-list-on-the-nasdaq-199505.html Cosmos Holdings Inc (OTCQB:COSM), the wholesale Chicago-based pharmaceutical company, is raising its profile by formally submitting an application to uplist its common stock to the Nasdaq Composite stock exchange from the OTCQB Venture market.

The move underlines the strides Cosmos has made in strengthening its corporate governance and positioning itself for growth and profitability.

Cosmos is a pharmaceutical wholesaler with offices and warehouses in Thessaloniki, Greece, and in Harlow, the UK.  The company conducts business in 16 countries including Germany, the United Kingdom, Ireland, Denmark, Italy, France, Spain, Sweden, Poland, Netherlands, and Greece.

BIG PICTURE: Cosmos Holdings focuses on Europe as it expands its global wholesale pharmaceutical business

In a statement, CEO Gregory Siokas, said the uplisting, which is still subject to Nasdaq approval, would increase the liquidity of Cosmos stock and draw a wider audience of investors.

“We believe up-listing to Nasdaq will increase awareness of Cosmos Holdings in the financial community,” Siokas said. “In addition to liquidity for our shareholders, we expect this listing to provide greater awareness of our unique approach in the international pharmaceutical market, and enable us to attract a broader audience in the investment community.”

Cosmos said it intends to satisfy all of Nasdaq's listing requirements, but pointed out that its application is subject to approval by Nasdaq. During the review process, the company’s common stock will continue to trade on the OTCQB under its current symbol "COSM".

Cosmos shares closed up 8.9% last Friday to US$6.15.

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Mon, 25 Jun 2018 08:53:00 -0400 https://www.proactiveinvestors.com/companies/news/199505/cosmos-holdings-applies-to-list-on-the-nasdaq-199505.html
<![CDATA[News - Cosmos Holdings shares soar after 1Q earnings show strong revenue stream ]]> https://www.proactiveinvestors.com/companies/news/197947/cosmos-holdings-shares-soar-after-1q-earnings-show-strong-revenue-stream-197947.html Shares of Cosmos Holdings Inc (OTCQB:COSM) soared Wednesday after the Chicago-based wholesale pharmaceutical company posted first-quarter earnings that showed a surge in revenue.

Investors, in turn, sent shares of Cosmos Holdings up more than 4% to US$7.50.

For the quarter ended March 31, revenue nearly tripled to US$11.9mln from US$4.1mln.

“We are very excited at our continued growth which has resulted in the expansion of our revenue in the first quarter of 2018,” Konstantinos Vassilopoulos, the US finance manager of Cosmos, told Proactive Investors.

BIG PICTURE: Cosmos Holdings focuses on Europe as it expands its global wholesale pharmaceutical business

Cosmos continued to expand its sales network which now consists of over 160 customers and vendors in 16 different countries.

Going forward, the plan is for Cosmos’s management team to find acquisition targets that will enable it to get its wholesale business off to an explosive start in the US. The company will also look to sell its own nutritional supplements directly to US stores and expects to have a toe-hold in the US by early next year.

“We are keeping our eyes open for acquisitions in the US,” said Vassilopoulos in an earlier interview. “We expect to enter the US market in the near future.”

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Wed, 30 May 2018 10:59:00 -0400 https://www.proactiveinvestors.com/companies/news/197947/cosmos-holdings-shares-soar-after-1q-earnings-show-strong-revenue-stream-197947.html
<![CDATA[News - Cosmos Holding unveils a new line of nutritional supplements ]]> https://www.proactiveinvestors.com/companies/news/196151/cosmos-holding-unveils-a-new-line-of-nutritional-supplements-196151.html Cosmos Holdings Inc (OTCQB:COSM), the Chicago-based wholesale pharmaceutical company, is shaking up its business with the introduction of a new line of its own dietary and nutritional supplements.

The supplements will be rolled out and sold across Europe in coming months. The array of new products soon to be on offer range from herbal syrups with natural ingredients from Greece to hair supplements for stronger and shinier hair to DNA repair supplements and Turmeric.

“This marks the completion of yet another milestone for Cosmos Holdings,” said Chief Executive Gregory Siokas. “We are gearing up and are excited to release our product line to the European market in the coming months. The excitement is also shared by our wholesale partners as we get ready to ramp up production.”

The way Cosmos operates in the pharmaceutical parallel trade market — which allows for the free movement of drugs across Europe from lower value to higher value markets — is by arbitraging and profiting from price differences in brand-name drugs, which might cost less in Greece than they do in, say, Germany.

The company recently reported stellar full-year results for 2017, helped by its recent acquisition of Decahedron Ltd, a UK-based wholesaler of pharmaceutical products.

READ: Cosmos Holdings reports impressive full-year 2017 results helped by Decahedron acquisition

Last year, Cosmos’s revenue increased more than fourfold to US$30mln, up from US$6.7mln in 2016, as the group took in more customers and secured roughly US$10.2mln in additional capital.

Its acquisition of Decahedron widened its reach to another eight countries. Cosmos now conducts business across Germany, the UK, France, Italy, Singapore, Jordan and 10 other countries.

Gross profit for 2017 more than tripled to US$1.96mln from US$601,040 in 2016.

The shares were flat at US$5.50 in midday trading.

--Updated to reflect latest share price

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Tue, 01 May 2018 08:38:00 -0400 https://www.proactiveinvestors.com/companies/news/196151/cosmos-holding-unveils-a-new-line-of-nutritional-supplements-196151.html
<![CDATA[News - Cosmos Holdings amends loan facility for its SkyPharm subsidiary ]]> https://www.proactiveinvestors.com/companies/news/195703/cosmos-holdings-amends-loan-facility-for-its-skypharm-subsidiary-195703.html Wholesale pharmaceutical group Cosmos Holdings Inc’s (OTCQB:COSM) subsidiary SkyPharm SA has amended and restated its loan facility agreement, with CEO Grigorios Siokas as its guarantor and Synthesis Management’s Peer-to-Peer Income fund as the lender.

As of last December, the outstanding balance of the principal under the loan facility was US$3.2mln, excluding interest, of which US$136,800 has since been paid. The previous interest rate of 10% per year was restated as of last January to 4% plus quarterly Libor payments and a 2% default interest rate to be tacked on for unpaid amounts in addition to the standard interest rate of 4%.

The final repayment date has been extended to Dec. 31, 2021 from August 31, 2018.

This month, SkyPharm entered into a 10-year advisory agreement with Synthesis Management, which has been retained to assist SkyPharm in securing corporate finance capital. Synthesis will be paid €104,000 (US$127,231.94) per year during the 10-year term, all of which has been pre-paid by SkyPharm for its future financing services.

READ: Cosmos Holdings reports impressive full-year 2017 results helped by Decahedron acquisition

This month, Cosmos reported stellar full-year results for 2017, helped by its recent acquisition of Decahedron Ltd, a UK-based wholesaler of pharmaceutical products.

Last year, Cosmos’s revenue increased more than fourfold to US$30mln, up from US$6.7mln in 2016, as the group took in more customers and secured roughly US$10.2mln in additional capital.

Its acquisition of Decahedron widened its reach to another eight countries. Cosmos now conducts business across Germany, the UK, France, Italy, Singapore, Jordan and 10 other countries.

Gross profit for 2017 more than tripled to US$1.96mln from US$601,040 in 2016.

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Tue, 24 Apr 2018 16:09:00 -0400 https://www.proactiveinvestors.com/companies/news/195703/cosmos-holdings-amends-loan-facility-for-its-skypharm-subsidiary-195703.html
<![CDATA[News - Cosmos Holdings reports impressive full-year 2017 results helped by Decahedron acquisition; shares rise ]]> https://www.proactiveinvestors.com/companies/news/195500/cosmos-holdings-reports-impressive-full-year-2017-results-helped-by-decahedron-acquisition-shares-rise-195500.html Cosmos Holdings Inc (OTCQB:COSM), the wholesale Chicago-based pharmaceutical company, reported stellar full-year results for 2017, helped by its recent acquisition of Decahedron Ltd, a UK-based wholesaler of pharmaceutical products.

Last year, Cosmos’s revenue increased more than fourfold to US$30mln, up from US$6.7mln in 2016, as the group took in more customers and secured roughly US$10.2mln in additional capital.

Its acquisition of Decahedron widened its reach to another eight countries. Cosmos now conducts business across Germany, the UK, France, Italy, Singapore, Jordan and 10 other countries.

Gross profit for 2017 more than tripled to US$1.96mln from US$601,040 in 2016.

“We made significant progress in growing and optimizing our trading business in 2017 which was fueled by our focus in successfully targeting markets where we can build and maintain a strong position,” said Grigorios Siokas, Cosmos’s chief executive.

“Looking to 2018, we are planning to continue to develop and grow our business organically and through the acquisition of carefully targeted companies that will add value to our company and its shareholders.”

READ: Cosmos Holdings partners with Marathon Global to distribute its medical cannabis products

Other achievements last year included entering into an agreement with a contract manufacturer to produce Cosmos’s own brand of nutraceuticals and signing a deal with the cannabis company Marathon Global Inc to market and distribute medical cannabis products through its current distribution network.

The way Cosmos operates in the pharmaceutical parallel trade market—which allows for the free movement of drugs across Europe from lower value to higher value markets—is by arbitraging and profiting from price differences in brand-name drugs, which might cost less in Greece than they do in, say, Germany

Cosmos shares rose 1.3% to US$7.65 in early afternoon trade.

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Fri, 20 Apr 2018 13:08:00 -0400 https://www.proactiveinvestors.com/companies/news/195500/cosmos-holdings-reports-impressive-full-year-2017-results-helped-by-decahedron-acquisition-shares-rise-195500.html
<![CDATA[News - Cosmos Holdings partners with Marathon Global to distribute its medical cannabis products ]]> https://www.proactiveinvestors.com/companies/news/193649/cosmos-holdings-partners-with-marathon-global-to-distribute-its-medical-cannabis-products-193649.html Cosmos Holdings Inc (OTCMKTS:COSM), a Chicago-based pharmaceutical holding company, sealed a deal this week with Marathon Global, a private Canadian company specialising in the supply of cannabis, to distribute Marathon’s medical cannabis products throughout Europe.

The partnership will enable Cosmos, which specialises in the wholesale of pharmaceutical products, to market Marathon Global’s line of cannabis products to Cosmos's network of clients and vendors, including 35,000 pharmacies, across Germany, the UK, the United Arab Emirates, Denmark, Italy, France, Ireland, Sweden, Poland and the Netherlands.

Grigorios Siokas, chief executive of Cosmos, said: “We are pleased to be Marathon’s exclusive partner and look forward to fulfilling the demand in the European medical cannabis space now and in the future.”

Gavin Treanor, chief executive of Marathon Global, meanwhile, views “the underserviced European market as a tremendous opportunity.”

The use of cannabis for medical purposes is slowly being accepted by European governments, with countries such as the Netherlands, Italy and Germany taking the lead with early adoption of regulations.

Cosmos shares were up slightly to US$8.95 in midday trading.

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Thu, 22 Mar 2018 11:18:00 -0400 https://www.proactiveinvestors.com/companies/news/193649/cosmos-holdings-partners-with-marathon-global-to-distribute-its-medical-cannabis-products-193649.html