Cosmos Health Inc. announced on June 10, 2026, that its wholly-owned subsidiary Cana Laboratories has secured a three-year contract manufacturing agreement with Verisfield S.A. to produce 3.9 million units of VASCLOR GEST (progesterone) 400mg vaginal pessaries. This partnership marks a strategic expansion for Cana Laboratories into the women's health and reproductive medicine sectors, diversifying its order book across additional customers and therapeutic areas. The agreement entails an annual manufacturing volume of 1.3 million units, with production taking place at Cana's European GMP-certified facilities.

Under the terms of the agreement, Cana will manufacture the product indicated for luteal phase support and as part of assisted reproduction treatment. The pessaries are supplied at a dosage of 400mg per unit, packaged in boxes of 15 pessaries within PVC-PE strips. Verisfield, a specialty pharmaceutical company established in 2000, markets a portfolio of over 60 pharmaceutical products across seven therapeutic categories in Greece and internationally through strategic partners.

Greg Siokas, CEO of Cosmos Health, stated that the agreement represents a further expansion of the company's high-margin contract manufacturing division. He emphasized that the deal diversifies the order book across additional customers and therapeutic areas. Siokas noted that the company is well-positioned to secure new contracts and accelerate growth by continuing to upgrade its European GMP-certified infrastructure and capacity.

Agreement Details

The following table outlines the key specifications of the manufacturing agreement:

Strategic Implications

This agreement broadens Cana's contract manufacturing customer base and enhances its presence in the European pharmaceutical market. By leveraging its European Good Manufacturing Practices (GMP) licensed facilities and European Medicines Agency (EMA) certification, Cosmos Health aims to capitalize on the growing demand for specialized generic and differentiated pharmaceutical products. The company continues to focus on expanding its distribution platform throughout Europe, Asia, and North America.

Cosmos Health Inc. has announced a financial trajectory targeting $200.6 million in revenue by 2029, following a record FY2025 performance. Chief Executive Officer Greg Siokas outlined the company's strategic progress in a letter to shareholders, highlighting record revenue, a strengthening balance sheet, and active expansion into the United States. The company reported FY2025 revenue of $65.3 million, a 20% increase year-over-year, with Q1 2026 revenue reaching $17.9 million, up 31% year-over-year.

Financial Performance and Guidance

The company's financial results indicate a shift toward higher-margin proprietary products. Gross profit surged 83% to $7.9 million in FY2025, with gross margin expanding 418 basis points to 12.1%. Cosmos Health projects this margin will expand to 35.5% by FY2029 as the business mix transforms. The company has issued multi-year guidance through FY2029, expecting to achieve $44.2 million in Adjusted EBITDA and $92.3 million in stockholders' equity by the end of the period.

Strategic Pillars and U.S. Expansion

Cosmos Health is executing on four strategic pillars: a higher-margin proprietary portfolio, AI and automation, a global integrated healthcare platform, and financial discipline. The company's U.S. market entry is active and generating revenue, with local manufacturing capabilities supporting the launch of the 18 Series platform. Management projects annualized U.S. revenue exceeding $20 million at approximately 75% gross margins within the next 12 to 18 months.

Balance Sheet and Financing

The balance sheet strengthened in Q1 2026, with total liabilities decreasing by $4.5 million, or 9.6%, and stockholders' equity increasing by $1.4 million to $19.8 million. The liabilities-to-assets ratio improved to 68.2%. The company has identified approximately $20 million in non-core assets, including real estate valued at roughly $15 million, which it may monetize to unlock value. Additionally, subsidiary Cana Laboratories is pursuing a financing program of up to €25 million with the European Investment Bank to support R&D initiatives.

R&D and Innovation

Research and development efforts are advancing across weight management, oncology, and neurology. The proprietary weight-management product CCX0722 is in the final development phase, targeting a global market projected to reach approximately $299 billion by 2030. The company's AI-driven Cloudscreen platform and new nanotechnology investments underpin its pipeline, which includes exclusive worldwide licences for two patented anticancer therapies.