Proactive Investors - Run By Investors For Investors

Cosmos Holdings pays off all its convertible debt

CEO Gregory Siokas said that with the acquisition of Athens-based Cosmofarm and the note repayment, the company is ‘well-positioned' for growth in 2019
Pills spilling out from a vial
Cosmos Holdings specializes in acquiring, developing, and commercializing medicines and has offices and distribution centers in Thessaloniki, Greece and in the UK

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 [email protected]

Follow her on Twitter@UttaraProactive 

View full COSM profile View Profile

Cosmos Holdings Inc Timeline

Related Articles

cancerous cells
March 08 2019
A series of trials underway at major cancer research hospitals are evaluating the company's flagship cancer drug Ampligen
scientist at petrie dish
May 15 2019
Here we take a closer look at Midatech Pharma PLC (LON:MTPH)
Enzymes under a microscope
April 28 2019
The Florida company applies its proprietary C1 gene expression platform to speed up the development of biologic vaccines, drugs at flexible commercial scales
Copyright ©, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use