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First commercial launch of the Company's nutraceutical products in the U.S. follows successful launches on Amazon in other key markets
CHICAGO, IL / ACCESSWIRE / June 2 , 2022 / Cosmos Holdings, Inc. ("the Company") (NASDAQ:COSM), an international pharmaceutical company with a proprietary line of nutraceuticals and distributor of branded and generic pharmaceuticals, nutraceuticals, OTC medications and medical devices, today announced that the Company's subsidiary, SkyPharm S.A., a pharmaceutical wholesaler and distributor, is launching Sky Premium Life products on Amazon in the United States. Cosmos expects to introduce fifteen Sky Premium Life SKUs in the third quarter of 2022, and targets having all 85 SKUs listed on Amazon by year end.
According to Business Market Insights, the US nutraceutical market is expected to grow at a 7.1% CAGR and reach $138.0 billion by 2027. The rapid market expansion in the US is attributed to growth in health-conscious consumers. Moreover, Coherent Market Insights reports that more consumers are shifting focus from the treatment of diseases to daily preventive measures to reduce the onset of chronic and lifestyle-related disease.
"We are excited to announce the commercial launch of Sky Premium Life on Amazon in the United States," stated Greg Siokas, Chief Executive Officer of Cosmos Holdings. "This is an important milestone as we accelerate our global roll-out strategy. Importantly, this launch follows the recent introduction of our Sky Premium Life products on Amazon in Canada, the U.K. and Singapore earlier this year. Based on our initial success in these markets, we are confident in the U.S. market potential. With health and wellness playing an increasingly important role in consumers' lives, we believe there is significant pent-up demand for high-quality nutraceutical supplements in the U.S. We look forward to launching our first products on the Amazon store in the third quarter of 2022 with the balance available by year end. International growth is a key objective of our overall strategy, as we continue to leverage our robust global logistics and distribution capabilities, while expanding our customer base worldwide."
About Cosmos Holdings, Inc.
Cosmos Holdings Inc. (Nasdaq:COSM) is an international pharmaceutical company, with a proprietary line of nutraceuticals and distributor of branded and generic pharmaceuticals, nutraceuticals, OTC medications and medical devices through an extensive, established EU distribution network. The Company identifies, acquires, develops and commercializes products that improve patients' lives and outcomes. Cosmos has developed a global distribution platform and is currently expanding throughout Europe, Asia and North America. Cosmos Holdings has offices and distribution centers in Thessaloniki, Greece, Athens, Greece and Harlow, UK. More information is available at www.cosmosholdingsinc.com and www.skypremiumlife.com.
With the exception of the historical information contained in this news release, the matters described herein, may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements preceded by, followed by, or that otherwise, include the words "believes," "expects," "anticipates," "intends," "projects," "estimates," "plans" and similar expressions or future or conditional verbs such as "will," "should," "would," "may" and "could", are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. These statements, involve unknown risks and uncertainties that may individually or materially impact the matters discussed, herein for a variety of reasons that are outside the control of the Company, including, but not limited to, the Company's ability to raise sufficient financing to implement its business plan, the impact of the COVID-19 pandemic and the war in Ukraine, on the Company's business, operations and the economy in general, and the Company's ability to successfully develop and commercialize its proprietary products and technologies. Readers are cautioned not to place undue reliance on these forward- looking statements, as actual results could differ materially from those described in the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the Company's filings with the SEC, which are available at the SEC's website (www.sec.gov). The Company disclaims any intention or obligation to update, or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE: Cosmos Holdings, Inc.
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