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

Cosmos Health Inc. has launched a subscription-based purchasing model for its proprietary consumer health brands, beginning with NOOR Collagen in the United States. The initiative is designed to drive stronger customer loyalty, greater lifetime value, and more predictable cash-flow visibility. Early performance data indicates a repeat purchase rate above 60% and margins in excess of 50%.

The subscription model is currently live for NOOR Collagen, a proprietary product formulated with premium marine collagen tripeptide. The product is available in capsule form and is designed to support skin and joint health. The company reported that the initial response has been encouraging, with plans to extend the model to a broader range of its consumer health products across its brands and markets globally.

Cosmos Health expects the model to offer several benefits, including converting one-time purchases into recurring revenue, improving forward visibility into demand, and enabling product bundling. Additionally, subscribers will gain access to nutritionists and wellness consultants for personalized guidance. The company intends to provide further details on sales, retention rates, and margins as the model matures.

Key Metrics for NOOR Collagen Subscription Model

Cosmos Health Inc. is a diversified, vertically integrated global healthcare group listed on NASDAQ under the ticker symbol COSM. The company focuses on developing and commercializing pharmaceutical and nutraceutical brands.