Cosmos Health Inc. has repurchased an additional 274,000 shares of its common stock in the open market at an average price of approximately $0.2554 per share. The company has now repurchased a total of 5,112,000 shares for approximately $1.11 million under its previously announced share repurchase program of up to $5 million. This capital allocation strategy underscores the company's belief that its shares remain undervalued relative to the strength and potential of its business.

Greg Siokas, CEO of Cosmos Health, stated that reaching over five million shares repurchased highlights the company's continued commitment to the program. The company intends to continue making open market repurchases, subject to market conditions, under the program, which expires on December 31, 2026, and may be renewed at the company’s sole discretion. The program allows for acquisitions through open market purchases, privately negotiated transactions, or other permitted means, in accordance with SEC Rules 10b5-1 and 10b-18.

Share Repurchase Program Details

Cosmos Health Inc., incorporated in 2009 in Nevada, operates as a diversified, vertically integrated global healthcare group. The company owns a portfolio of proprietary pharmaceutical and nutraceutical brands, including Sky Premium Life, Mediterranation, and bio-bebe. Through its subsidiary Cana Laboratories S.A., licensed under European Good Manufacturing Practices (GMP) and certified by the European Medicines Agency (EMA), it manufactures pharmaceuticals, food supplements, cosmetics, biocides, and medical devices within the European Union.

Cosmos Health Inc. has entered a five-year agreement with Libytec Pharmaceutical S.A. to commercialize its type-2 diabetes medication, DIABIT-IS X, in the Greek market. The partnership aims to leverage Libytec's established sales network to distribute the prescription drug, potentially broadening its reach through Greece's national health insurance system. This move is expected to contribute meaningfully to Cosmos Health's revenue and cash flow visibility.

Under the terms of the agreement, Cosmos Health, through its subsidiary Cana Laboratories S.A., will supply DIABIT-IS X. Libytec will handle distribution, medical information, and promotion to physicians, pharmacies, and hospitals across Greece. The collaboration pairs Cosmos Health's product with Libytec's commercial infrastructure to support the drug's rollout.

DIABIT-IS X contains the active substance sitagliptin and is available in 50 mg and 100 mg film-coated tablets. It serves as a generic alternative to Merck's Januvia®. The branded drug, along with its sister product Janumet®, generated approximately $4.5 billion in combined global sales in 2022, highlighting the significant market potential for sitagliptin-based treatments.

As a prescription medicine within a publicly reimbursed therapeutic class, DIABIT-IS X is expected to be accessible to patients through Greece's national health insurance system (EOPYY). This access is anticipated to expand the drug's potential reach across the Greek market. The agreement also positions Cosmos Health to enter additional European markets in the future.

Greg Siokas, CEO of Cosmos Health, stated that the partnership reflects the company's strategy of building long-term relationships to expand the commercial footprint of its medicines. He emphasized that the agreement allows the company to maximize the value of its product portfolio and generate revenue from proprietary products.

Key Details of the Agreement