First commercial launch of nutraceutical products in North American Market
CHICAGO, IL / ACCESSWIRE / May 5, 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 Canada. Cosmos expects to have 22 Sky Premium Life SKUs launched in the second quarter of 2022, and targets having all 85 SKUs listed on Amazon Canada by year end.
According to Market Data Forecast, the North American nutraceutical market was valued at $88.3 billion in 2021 and is expected to reach $118.73 billion by 2026. The market growth in North America is attributed to increasing consumer awareness regarding health and food habits. Additionally, the COVID-19 pandemic has led to a surge in demand for a variety of supplements in the North American market. Within the dietary supplement market, herbal remedies, vitamins, and minerals are all expected to experience strong growth.
"The launch of Sky Premium Life on Amazon Canada marks a key step in the roll-out of our North American e-commerce and online distribution strategy," stated Greg Siokas, Chief Executive Officer of Cosmos Holdings. "The North American market represents a significant and untapped growth opportunity, providing an entirely new audience for our proprietary Sky Premium Life brand, which has been well received across Europe. Our goal is to launch all 85 SKUs of our proprietary Sky Premium Life Brand on Amazon Canada by the end of the year. At the same time, we look forward to launching our high-quality nutraceutical products into other new international markets this year, by leveraging our robust global logistics and distribution capabilities."
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 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.